Leeward Investments LLC MA Lowers Position in Independent Bank Corp. (NASDAQ:INDB)

Leeward Investments LLC MA cut its stake in Independent Bank Corp. (NASDAQ:INDB) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,541 shares of the bank’s stock after selling 10,327 shares during the period. Leeward Investments LLC MA owned 0.57% of Independent Bank worth $16,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. raised its position in Independent Bank by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,907,345 shares of the bank’s stock worth $93,632,000 after buying an additional 25,094 shares during the last quarter. Nuance Investments LLC lifted its position in Independent Bank by 80.6% during the third quarter. Nuance Investments LLC now owns 1,661,215 shares of the bank’s stock valued at $81,549,000 after purchasing an additional 741,609 shares during the period. Northern Trust Corp increased its holdings in Independent Bank by 0.5% during the third quarter. Northern Trust Corp now owns 677,367 shares of the bank’s stock valued at $33,252,000 after buying an additional 3,359 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Independent Bank by 22.1% during the fourth quarter. Boston Trust Walden Corp now owns 518,119 shares of the bank’s stock valued at $34,097,000 after buying an additional 93,901 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Independent Bank by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,760 shares of the bank’s stock worth $21,588,000 after purchasing an additional 24,561 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Trading Up 0.7 %

Shares of INDB opened at $52.73 on Friday. Independent Bank Corp. has a 1-year low of $43.28 and a 1-year high of $68.75. The company has a 50-day moving average of $50.85 and a 200 day moving average of $54.97. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96.

Independent Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, April 1st were given a dividend of $0.57 per share. This is an increase from Independent Bank’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.32%. Independent Bank’s dividend payout ratio (DPR) is 44.02%.

Insider Buying and Selling at Independent Bank

In other news, Director Donna L. Abelli sold 800 shares of Independent Bank stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.83, for a total value of $42,264.00. Following the transaction, the director now owns 11,640 shares of the company’s stock, valued at approximately $614,941.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

INDB has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Independent Bank from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, April 22nd. TheStreet lowered shares of Independent Bank from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.

Independent Bank Profile

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.