SG Americas Securities LLC Has $485,000 Holdings in Independent Bank Corp. (NASDAQ:INDB)

SG Americas Securities LLC trimmed its position in Independent Bank Corp. (NASDAQ:INDBGet Rating) by 64.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,940 shares of the bank’s stock after selling 10,645 shares during the quarter. SG Americas Securities LLC’s holdings in Independent Bank were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INDB. Dimensional Fund Advisors LP lifted its stake in Independent Bank by 69.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,725,085 shares of the bank’s stock worth $140,646,000 after purchasing an additional 709,679 shares during the period. State Street Corp boosted its stake in Independent Bank by 25.6% in the 4th quarter. State Street Corp now owns 2,271,077 shares of the bank’s stock valued at $186,258,000 after buying an additional 462,932 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Independent Bank by 344.9% in the 4th quarter. Renaissance Technologies LLC now owns 404,181 shares of the bank’s stock valued at $32,953,000 after buying an additional 313,324 shares in the last quarter. Impax Asset Management Group plc bought a new stake in Independent Bank in the fourth quarter valued at $22,421,000. Finally, GW&K Investment Management LLC raised its stake in Independent Bank by 22,531.9% during the fourth quarter. GW&K Investment Management LLC now owns 275,883 shares of the bank’s stock worth $22,492,000 after acquiring an additional 274,664 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Independent Bank Stock Performance

NASDAQ:INDB opened at $84.34 on Friday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 22.86 and a beta of 0.82. Independent Bank Corp. has a 1 year low of $68.93 and a 1 year high of $93.52. The firm has a 50 day moving average of $81.25 and a 200-day moving average of $81.64. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.05.

Independent Bank (NASDAQ:INDBGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $172.76 million during the quarter, compared to the consensus estimate of $168.60 million. Independent Bank had a return on equity of 8.56% and a net margin of 25.36%. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts anticipate that Independent Bank Corp. will post 5.27 EPS for the current fiscal year.

Independent Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, June 24th. Independent Bank’s dividend payout ratio is presently 55.28%.

Analyst Ratings Changes

Separately, Compass Point upped their target price on shares of Independent Bank to $107.00 in a report on Monday, July 25th.

Insiders Place Their Bets

In related news, CEO Christopher Oddleifson sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $80.86, for a total value of $242,580.00. Following the completion of the sale, the chief executive officer now owns 99,917 shares of the company’s stock, valued at $8,079,288.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Eileen C. Miskell sold 1,123 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $81.04, for a total value of $91,007.92. Following the transaction, the director now owns 13,435 shares of the company’s stock, valued at approximately $1,088,772.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Oddleifson sold 3,000 shares of Independent Bank stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $80.86, for a total transaction of $242,580.00. Following the sale, the chief executive officer now owns 99,917 shares of the company’s stock, valued at approximately $8,079,288.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,873 shares of company stock valued at $395,913. Insiders own 1.02% of the company’s stock.

About Independent Bank

(Get Rating)

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 primarily in Massachusetts. The company accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.

Further Reading

Want to see what other hedge funds are holding INDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independent Bank Corp. (NASDAQ:INDBGet Rating).

Institutional Ownership by Quarter for Independent Bank (NASDAQ:INDB)

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