Leeward Investments LLC MA lowered its position in shares of Independent Bank Corp. (NASDAQ:INDB – Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,541 shares of the bank’s stock after selling 10,327 shares during the period. Leeward Investments LLC MA’s holdings in Independent Bank were worth $16,488,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Covestor Ltd grew its position in Independent Bank by 13.5% during the third quarter. Covestor Ltd now owns 2,598 shares of the bank’s stock worth $128,000 after buying an additional 310 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Independent Bank during the third quarter worth approximately $217,000. AlphaMark Advisors LLC acquired a new stake in Independent Bank during the third quarter worth approximately $218,000. M&T Bank Corp acquired a new stake in Independent Bank during the third quarter worth approximately $237,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Independent Bank during the third quarter worth approximately $242,000. Institutional investors and hedge funds own 83.40% of the company’s stock.
Independent Bank Trading Up 0.7 %
NASDAQ INDB opened at $52.73 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36. Independent Bank Corp. has a twelve month low of $43.28 and a twelve month high of $68.75. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 10.18 and a beta of 0.83. The business’s fifty day moving average is $50.85 and its 200 day moving average is $54.97.
Independent Bank Increases Dividend
Analyst Upgrades and Downgrades
INDB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Independent Bank from $64.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday, April 22nd. TheStreet downgraded Independent Bank from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.
View Our Latest Stock Analysis on INDB
Insider Activity at Independent Bank
In related news, Director Donna L. Abelli sold 800 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.83, for a total transaction of $42,264.00. Following the completion of the transaction, the director now directly owns 11,640 shares of the company’s stock, valued at approximately $614,941.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.
About Independent Bank
Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.
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