Janus Henderson Group PLC acquired a new position in Independent Bank Corp. (NASDAQ:INDB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 684,065 shares of the bank’s stock, valued at approximately $45,593,000. Janus Henderson Group PLC owned 2.49% of Independent Bank Corp. as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. US Bancorp DE raised its position in shares of Independent Bank Corp. by 2.7% during the 2nd quarter. US Bancorp DE now owns 1,893 shares of the bank’s stock worth $126,000 after purchasing an additional 49 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Independent Bank Corp. by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the bank’s stock worth $740,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in shares of Independent Bank Corp. by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,171 shares of the bank’s stock worth $944,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Independent Bank Corp. by 8.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,566 shares of the bank’s stock worth $104,000 after purchasing an additional 120 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Independent Bank Corp. by 3.6% during the 2nd quarter. Amalgamated Bank now owns 3,640 shares of the bank’s stock worth $243,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.

In other Independent Bank Corp. news, insider Christopher Oddleifson sold 1,750 shares of Independent Bank Corp. stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $72.02, for a total transaction of $126,035.00. Following the completion of the transaction, the insider now owns 92,143 shares in the company, valued at $6,636,138.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerard F. Nadeau sold 5,193 shares of Independent Bank Corp. stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $71.75, for a total transaction of $372,597.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,443 shares of company stock valued at $607,108. 2.67% of the stock is currently owned by company insiders.

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Shares of Independent Bank Corp. (INDB) opened at 73.45 on Friday. The firm has a 50-day moving average of $71.86 and a 200-day moving average of $67.20. Independent Bank Corp. has a 12-month low of $47.50 and a 12-month high of $76.30. The firm has a market cap of $2.02 billion, a P/E ratio of 24.97 and a beta of 1.01.

Independent Bank Corp. (NASDAQ:INDB) last announced its earnings results on Thursday, July 20th. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $85.15 million during the quarter, compared to analysts’ expectations of $85.20 million. Independent Bank Corp. had a net margin of 23.17% and a return on equity of 9.70%. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities analysts forecast that Independent Bank Corp. will post $3.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Monday, September 25th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, September 22nd. Independent Bank Corp.’s payout ratio is currently 43.69%.

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $71.00 price target on shares of Independent Bank Corp. in a research report on Wednesday, June 28th. BidaskClub downgraded shares of Independent Bank Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Wednesday, July 26th. Finally, Compass Point upgraded shares of Independent Bank Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $73.00.

About Independent Bank Corp.

Independent Bank Corp. is a bank holding company. The Company operates through its subsidiary, Rockland Trust Company (the Bank). The Bank is a community-oriented commercial bank. Its community banking business provides a range of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.

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

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