Natixis Advisors L.P. Has $1.11 Million Position in Independent Bank Corp. (NASDAQ:INDB)

Natixis Advisors L.P. trimmed its holdings in Independent Bank Corp. (NASDAQ:INDB) by 49.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,898 shares of the bank’s stock after selling 16,817 shares during the quarter. Natixis Advisors L.P.’s holdings in Independent Bank were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in shares of Independent Bank by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,907,345 shares of the bank’s stock valued at $93,632,000 after purchasing an additional 25,094 shares during the period. Nuance Investments LLC lifted its stake in shares of Independent Bank by 80.6% in the 3rd 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 lifted its stake in shares of Independent Bank by 0.5% in the 3rd quarter. Northern Trust Corp now owns 677,367 shares of the bank’s stock valued at $33,252,000 after purchasing an additional 3,359 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Independent Bank by 22.1% in the 4th quarter. Boston Trust Walden Corp now owns 518,119 shares of the bank’s stock valued at $34,097,000 after purchasing an additional 93,901 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Independent Bank by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,760 shares of the bank’s stock valued at $21,588,000 after purchasing an additional 24,561 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Independent Bank Stock Performance

Shares of Independent Bank stock opened at $52.19 on Thursday. Independent Bank Corp. has a one year low of $43.28 and a one year high of $68.75. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.08 and a beta of 0.84. The business has a 50-day simple moving average of $50.73 and a 200 day simple moving average of $55.36. 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 (NASDAQ:INDB) last issued its earnings results on Thursday, April 18th. The bank reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Independent Bank had a net margin of 23.97% and a return on equity of 7.85%. The firm had revenue of $167.38 million during the quarter, compared to the consensus estimate of $171.80 million. On average, research analysts anticipate that Independent Bank Corp. will post 4.46 earnings per share for the current fiscal year.

Independent Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, April 1st were issued a dividend of $0.57 per share. This is a positive change from Independent Bank’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Thursday, March 28th. Independent Bank’s payout ratio is currently 44.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INDB. Keefe, Bruyette & Woods dropped their price objective on Independent Bank from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, April 22nd. TheStreet lowered Independent Bank from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th.

Insiders Place Their Bets

In other Independent Bank news, Director Donna L. Abelli sold 800 shares of the business’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.