<div id="readability-page-1"><p>Panagora Asset Management Inc. lessened its holdings in shares of  Independent Bank Corp. (NASDAQ:INDB - Free Report) by 70.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,714 shares of the bank's stock after selling 79,600 shares during the quarter. Panagora Asset Management Inc. owned 0.07% of Independent Bank worth $2,120,000 as of its most recent SEC filing.</p><div><p><span></span><span>Get <strong>Independent Bank</strong> alerts:</span></p></div><ul><li>3 Volatile Mid-Caps to Trade This Earnings Season</li></ul><p>Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INDB. LPL Financial LLC raised its position in shares of  Independent Bank by 4.7% during the first quarter. LPL Financial LLC now owns 25,252 shares of the bank's stock worth $1,582,000 after purchasing an additional 1,129 shares during the period.  Natixis Advisors LLC increased its stake in  Independent Bank by 26.3% during the 1st quarter. Natixis Advisors LLC now owns 14,211 shares of the bank's stock worth $890,000 after purchasing an additional 2,959 shares in the last quarter.  PNC Financial Services Group Inc. raised its holdings in  Independent Bank by 3.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,616 shares of the bank's stock worth $414,000 after buying an additional 232 shares during the period.  Vanguard Group Inc. raised its holdings in  Independent Bank by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 5,134,903 shares of the bank's stock worth $321,702,000 after buying an additional 116,820 shares during the period.  Finally, Charles Schwab Investment Management Inc. lifted its stake in  Independent Bank by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 549,547 shares of the bank's stock valued at $34,429,000 after buying an additional 4,599 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors. </p><h2>Analyst Upgrades and Downgrades</h2><p>INDB has been the subject of several research reports. Weiss Ratings  reissued a &#34;hold (c+)&#34; rating on shares of Independent Bank in a research report on Wednesday, October 8th. Independent Research  set a $83.00 target price on Independent Bank in a report on Tuesday, October 21st. Zacks Research lowered Independent Bank from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a report on Tuesday, August 19th. Wall Street Zen raised Independent Bank from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research report on Sunday, August 10th. Finally, Keefe, Bruyette &amp; Woods raised Independent Bank from a &#34;market perform&#34; rating to an &#34;outperform&#34; rating and lifted their target price for the company from $80.00 to $83.00 in a research report on Tuesday, October 21st. One equities research analyst  has rated the stock with a Strong Buy rating, one  has assigned  a Buy rating and three have issued  a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of &#34;Moderate Buy&#34; and an average price target of $76.75.</p><p><b>Check Out Our Latest Analysis on INDB</b></p><h2>Independent Bank Price Performance</h2><p>Shares of NASDAQ INDB opened at $73.73 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.94 and a beta of 0.81. The business has a 50-day moving average of $69.30 and a 200-day moving average of $67.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.95 and a quick ratio of 0.94. Independent Bank Corp. has a fifty-two week low of $52.15 and a fifty-two week high of $74.66. </p><p>Independent Bank (NASDAQ:INDB - Get Free Report) last released its earnings results on Wednesday, February 12th. The bank reported $1.01 earnings per share (EPS) for the quarter. The business had revenue of $175.25 million for the quarter. Independent Bank had a return on equity of 7.19% and a net margin of 16.64%. As a group, sell-side analysts predict that  Independent Bank Corp. will post 5.41 earnings per share for the current fiscal year. </p><h2>Independent Bank Announces Dividend</h2><p>The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.36 annualized dividend and a dividend yield of 3.2%. Independent Bank's dividend payout ratio (DPR) is currently 57.42%. </p><h2>Insiders Place Their Bets</h2><p>In other Independent Bank news, Director Ken S. Ansin sold 144,000 shares of the company's stock in a transaction on Monday, November 10th. The shares were sold at an average price of $69.94, for a total transaction of $10,071,360.00. Following the sale, the director directly owned 288,481 shares of the company's stock, valued at approximately $20,176,361.14. This represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerard F. Nadeau sold 3,000 shares of Independent Bank stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $70.00, for a total transaction of $210,000.00. Following the completion of the transaction, the director directly owned 22,395 shares of the company's stock, valued at approximately $1,567,650. This trade represents a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 200,000 shares of company stock worth $13,941,540. 0.81% of the stock is owned by corporate insiders. </p><h2>About Independent Bank</h2> (Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Independent Bank</li><li>High Flyers: 3 Natural Gas Stocks for March 2022</li><li>The Trade Desk: After a 70% Plunge, This Could Be The Time to Buy</li><li>How the NYSE and NASDAQ are Different, Why That Matters to Investors</li><li>Tap Into 2026 AI Infrastructure Gains With This High-Growth ETF</li><li>What is the Dow Jones Industrial Average (DJIA)?</li><li>Strong Quarter, Weak Reaction: Why GitLab Shares Dropped</li></ul><p><strong>Want to see what other hedge funds are holding INDB?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independent Bank Corp. (NASDAQ:INDB - Free Report).</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SU5EQg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SU5EQg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Independent Bank Right Now?</h2><p>Before you consider Independent Bank, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Independent Bank wasn't on the list.</p><p>While Independent Bank currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

INDB

<p>Panagora Asset Management Inc. reduced its stake in Independent Bank Corp. by 70.2% in Q2, now holding $2.12 million worth of shares. Other institutional investors adjusted their positions, and analysts have mixed ratings on the stock. Independent Bank's stock opened at $73.73 with a market cap of $3.66 billion. The company announced a quarterly dividend of $0.59, yielding 3.2% annually.</p>

Panagora Asset Management Inc. Has $2.12 Million Stock Position in Independent Bank Corp. $INDB