Cwm LLC Has $660,000 Stock Position in Independent Bank Corp. (NASDAQ:INDB)

Cwm LLC grew its stake in Independent Bank Corp. (NASDAQ:INDB) by 28.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,154 shares of the bank’s stock after purchasing an additional 2,450 shares during the quarter. Cwm LLC’s holdings in Independent Bank were worth $660,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in INDB. Goldman Sachs Group Inc. lifted its stake in shares of Independent Bank by 5.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 509,236 shares of the bank’s stock valued at $33,513,000 after purchasing an additional 25,664 shares during the period. Vanguard Group Inc. increased its position in shares of Independent Bank by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,272,986 shares of the bank’s stock valued at $347,015,000 after buying an additional 69,312 shares in the last quarter. Plimoth Trust Co. LLC increased its position in shares of Independent Bank by 6.0% in the 1st quarter. Plimoth Trust Co. LLC now owns 8,900 shares of the bank’s stock valued at $463,000 after buying an additional 500 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Independent Bank by 19.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 50,777 shares of the bank’s stock valued at $2,641,000 after buying an additional 8,364 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Independent Bank by 89.8% in the 1st quarter. BNP Paribas Financial Markets now owns 23,769 shares of the bank’s stock valued at $1,236,000 after buying an additional 11,244 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INDB shares. StockNews.com cut shares of Independent Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Seaport Res Ptn upgraded shares of Independent Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd.

Independent Bank Price Performance

INDB stock opened at $61.57 on Friday. The stock has a 50-day moving average price of $60.26 and a two-hundred day moving average price of $54.92. The stock has a market cap of $2.61 billion, a PE ratio of 11.89 and a beta of 0.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Independent Bank Corp. has a 1 year low of $44.63 and a 1 year high of $68.75.

Independent Bank (NASDAQ:INDB) last released its earnings results on Thursday, October 17th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $250.07 million during the quarter, compared to analysts’ expectations of $173.24 million. Independent Bank had a return on equity of 7.41% and a net margin of 22.42%. During the same quarter in the prior year, the company earned $1.38 EPS. Equities analysts forecast that Independent Bank Corp. will post 4.49 EPS for the current fiscal year.

Independent Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 30th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Monday, September 30th. Independent Bank’s dividend payout ratio (DPR) is presently 44.02%.

Independent Bank Company 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.