<div id="readability-page-1"><p>JPMorgan Chase &amp; Co. cut its holdings in shares of  Independent Bank Corp. (NASDAQ:INDB - Free Report) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,439 shares of the bank's stock after selling 33,026 shares during the quarter. JPMorgan Chase &amp; Co. owned about 0.47% of Independent Bank worth $14,617,000 as of its most recent filing with the Securities and Exchange Commission.</p><ul><li>3 Volatile Mid-Caps to Trade This Earnings Season</li></ul><p>Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in shares of  Independent Bank by 296.8% during the 2nd quarter. Private Trust Co. NA now owns 619 shares of the bank's stock valued at $39,000 after acquiring an additional 463 shares during the last quarter.  Bessemer Group Inc. grew its holdings in  Independent Bank by 95.1% in the second quarter. Bessemer Group Inc. now owns 638 shares of the bank's stock valued at $40,000 after purchasing an additional 311 shares during the period.  LRI Investments LLC acquired a new position in  Independent Bank during the second quarter worth approximately $59,000.  Quarry LP raised its stake in  Independent Bank by 1,328.6% during the first quarter. Quarry LP now owns 1,300 shares of the bank's stock worth $81,000 after purchasing an additional 1,209 shares during the period.  Finally, ST Germain D J Co. Inc. raised its stake in  Independent Bank by 358.4% during the second quarter. ST Germain D J Co. Inc. now owns 2,223 shares of the bank's stock worth $140,000 after purchasing an additional 1,738 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds. </p><div><p><span></span><span>Get <strong>Independent Bank</strong> alerts:</span></p></div><h2>Insiders Place Their Bets</h2><p>In related news, Director Gerard F. Nadeau sold 3,000 shares of Independent Bank stock in a transaction on Friday, November 21st. The shares were sold at an average price of $70.00, for a total transaction of $210,000.00. Following the sale, the director owned 22,395 shares of the company's stock, valued at $1,567,650. The trade was a 11.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ken S. Ansin sold 53,000 shares of the company's stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.06, for a total transaction of $3,660,180.00. Following the completion of the transaction, the director directly owned 53,738 shares of the company's stock, valued at approximately $3,711,146.28. The trade was a 49.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 200,000 shares of company stock valued at $13,941,540. Company insiders own  0.81% of the company's stock. </p><h2>Wall Street Analysts Forecast Growth</h2><p>INDB has been the subject of several research reports. Keefe, Bruyette &amp; Woods raised shares of Independent Bank from a &#34;market perform&#34; rating to an &#34;outperform&#34; rating and boosted their price objective for the company from $80.00 to $83.00 in a research note on Tuesday, October 21st. Zacks Research downgraded Independent Bank from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded Independent Bank from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a report on Sunday, August 10th. Weiss Ratings  reiterated a &#34;hold (c+)&#34; rating on shares of Independent Bank in a report on Wednesday, October 8th. Finally, Independent Research  set a $83.00 target price on shares of Independent Bank in a research report on Tuesday, October 21st. One equities research analyst  has rated the stock with a Strong Buy rating, one  has issued  a Buy rating and three have assigned  a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of &#34;Moderate Buy&#34; and an average price target of $76.75.</p><p><b>View Our Latest Report on INDB</b></p><h2>Independent Bank Price Performance</h2><p>Shares of NASDAQ INDB opened at $73.64 on Friday. 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 1-year low of $52.15 and a 1-year high of $74.66. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 17.92 and a beta of 0.81. The business has a 50-day moving average of $69.36 and a 200-day moving average of $67.33. </p><p>Independent Bank (NASDAQ:INDB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The bank reported $1.01 EPS for the quarter. Independent Bank had a return on equity of 7.19% and a net margin of 16.64%.The firm had revenue of $175.25 million for the quarter.  On average, equities analysts anticipate that  Independent Bank Corp. will post 5.41 EPS 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. Stockholders of record on Monday, September 29th were paid a $0.59 dividend. The ex-dividend date was Monday, September 29th. This represents a $2.36 annualized dividend and a dividend yield of 3.2%. Independent Bank's dividend payout ratio  is 57.42%. </p><h2>Independent Bank Profile</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>Read More</h2><ul><li>Five stocks we like better than Independent Bank</li><li>Stock Ratings and Recommendations: Understanding Analyst Ratings</li><li>Ulta’s Stock May Be Set for a Glow-Up—20% Upside Ahead?</li><li>Do ETFs Pay Dividends? What You Need to Know</li><li>Gates Foundation Sells MSFT Stock—Should Investors Be Worried?</li><li>Transportation Stocks Investing</li><li>MarketBeat Week in Review – 12/1 - 12/5</li></ul><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>JPMorgan Chase & Co. reduced its holdings in Independent Bank Corp. by 12.4% in Q2, owning 232,439 shares worth $14.6 million. Other hedge funds adjusted their stakes, with significant increases by Private Trust Co. NA and ST Germain D J Co. Inc. Insiders sold 200,000 shares valued at $13.9 million. Analysts have mixed ratings, with a moderate buy consensus and a price target of $76.75. INDB shares opened at $73.64, with a market cap of $3.65 billion.</p>

JPMorgan Chase & Co. Lowers Stock Holdings in Independent Bank Corp. $INDB