Chicago Equity Partners LLC increased its stake in Independent Bank Corp (NASDAQ:INDB) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,095 shares of the bank’s stock after purchasing an additional 1,045 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.34% of Independent Bank worth $6,686,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Independent Bank by 39.0% during the 2nd quarter. Renaissance Technologies LLC now owns 11,400 shares of the bank’s stock worth $894,000 after purchasing an additional 3,200 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Independent Bank by 17.4% during the 2nd quarter. Bank of America Corp DE now owns 75,665 shares of the bank’s stock worth $5,932,000 after purchasing an additional 11,190 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Independent Bank by 72.1% during the 2nd quarter. California Public Employees Retirement System now owns 50,515 shares of the bank’s stock worth $3,960,000 after purchasing an additional 21,156 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Independent Bank by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 65,537 shares of the bank’s stock worth $5,413,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Moody Aldrich Partners LLC raised its stake in shares of Independent Bank by 21.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 81,210 shares of the bank’s stock worth $6,708,000 after purchasing an additional 14,120 shares in the last quarter. 82.05% of the stock is currently owned by institutional investors.

In related news, Director Kevin J. Jones sold 2,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $80.37, for a total value of $160,740.00. Following the sale, the director now owns 80,536 shares in the company, valued at approximately $6,472,678.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Oddleifson sold 1,050 shares of the stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $79.21, for a total value of $83,170.50. Following the completion of the sale, the chief executive officer now owns 87,567 shares in the company, valued at approximately $6,936,182.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,650 shares of company stock worth $368,816. 2.67% of the stock is owned by company insiders.

INDB opened at $80.32 on Monday. Independent Bank Corp has a 1-year low of $66.12 and a 1-year high of $95.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.26 billion, a P/E ratio of 17.09 and a beta of 1.05.

A number of equities research analysts have recently issued reports on the company. Compass Point cut Independent Bank from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 8th. Zacks Investment Research cut Independent Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Finally, BidaskClub upgraded Independent Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Independent Bank currently has a consensus rating of “Hold” and an average target price of $85.67.

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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 primarily in Massachusetts. The company's products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts.

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

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