14,689 Shares in Independent Bank Corp. $INDB Acquired by William John Sempolinski

William John Sempolinski bought a new position in Independent Bank Corp. (NASDAQ:INDB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,689 shares of the bank’s stock, valued at approximately $1,230,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INDB. Xponance LLC increased its position in shares of Independent Bank by 3.6% during the 4th quarter. Xponance LLC now owns 3,981 shares of the bank’s stock valued at $291,000 after purchasing an additional 140 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Independent Bank by 26.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 705 shares of the bank’s stock valued at $52,000 after buying an additional 146 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Independent Bank by 2.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,303 shares of the bank’s stock valued at $607,000 after buying an additional 161 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Independent Bank by 23.3% during the second quarter. Osaic Holdings Inc. now owns 1,116 shares of the bank’s stock valued at $70,000 after buying an additional 211 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Independent Bank by 0.6% during the second quarter. California State Teachers Retirement System now owns 39,289 shares of the bank’s stock worth $2,471,000 after acquiring an additional 224 shares during the period. 83.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Gerard Nadeau sold 5,307 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $84.69, for a total transaction of $449,449.83. Following the completion of the sale, the director directly owned 16,907 shares in the company, valued at approximately $1,431,853.83. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas R. Venables sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $83.00, for a total transaction of $311,250.00. Following the transaction, the director directly owned 17,649 shares in the company, valued at $1,464,867. The trade was a 17.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Independent Bank Price Performance

Shares of NASDAQ:INDB opened at $83.90 on Friday. The company’s fifty day moving average is $84.15 and its two-hundred day moving average is $80.59. The company has a market cap of $3.97 billion, a P/E ratio of 15.14 and a beta of 0.76. Independent Bank Corp. has a 12-month low of $63.33 and a 12-month high of $87.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20.

Independent Bank (NASDAQ:INDB) last issued its earnings results on Thursday, July 16th. The bank reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Independent Bank had a return on equity of 9.19% and a net margin of 20.31%.The business had revenue of $253.32 million during the quarter, compared to analyst estimates of $257.50 million. Equities analysts expect that Independent Bank Corp. will post 7.11 earnings per share for the current fiscal year.

Independent Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Monday, June 29th were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 29th. Independent Bank’s dividend payout ratio is 46.21%.

Analysts Set New Price Targets

INDB has been the topic of several research reports. Hovde Group started coverage on shares of Independent Bank in a research report on Friday, May 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Independent Bank from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. Independent Research set a $95.00 target price on shares of Independent Bank in a report on Friday, May 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Independent Bank in a report on Wednesday, August 5th. Finally, Piper Sandler increased their target price on shares of Independent Bank from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.86.

Independent Bank Profile

Independent Bank Group, Inc (NASDAQ:INDB) is a bank holding company headquartered in McKinney, Texas, that provides a range of financial services through its wholly owned subsidiary, Independent Bank. Tracing its roots to the late 19th century, the company has grown from a single community bank into a regional financial institution serving individuals, small businesses and commercial clients. Independent Bank Group became a bank holding company in 1983 and expanded its footprint through organic growth and strategic acquisitions.

The company’s primary business activities encompass retail and commercial banking, including deposit products, consumer and business lending and credit services.