Universal Beteiligungs und Servicegesellschaft mbH Increases Stock Holdings in Independent Bank Corp. $INDB

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Independent Bank Corp. (NASDAQ:INDB) by 28.9% in the third quarter, Holdings Channel reports. The institutional investor owned 43,235 shares of the bank’s stock after acquiring an additional 9,689 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Independent Bank were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Independent Bank by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 10,705 shares of the bank’s stock valued at $680,000 after purchasing an additional 162 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Independent Bank by 23.3% in the second quarter. Osaic Holdings Inc. now owns 1,116 shares of the bank’s stock valued at $70,000 after purchasing an additional 211 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Independent Bank by 2.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,862 shares of the bank’s stock worth $495,000 after buying an additional 218 shares during the last quarter. California State Teachers Retirement System grew its position in Independent Bank by 0.6% in 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 in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Independent Bank by 5.3% during the 2nd quarter. Tidal Investments LLC now owns 4,979 shares of the bank’s stock valued at $313,000 after purchasing an additional 251 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Independent Bank Stock Performance

Shares of INDB stock opened at $79.55 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $75.17 and its two-hundred day moving average is $70.71. The company has a market capitalization of $3.94 billion, a P/E ratio of 17.88 and a beta of 0.79. Independent Bank Corp. has a 12-month low of $52.15 and a 12-month high of $80.98.

Independent Bank (NASDAQ:INDB) last announced its earnings results on Thursday, January 22nd. The bank reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.05. Independent Bank had a net margin of 17.51% and a return on equity of 7.88%. The business had revenue of $253.93 million for the quarter, compared to analyst estimates of $249.64 million. Analysts expect that Independent Bank Corp. will post 5.41 EPS for the current fiscal year.

Independent Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Monday, December 29th were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 29th. This represents a $2.36 dividend on an annualized basis and a yield of 3.0%. Independent Bank’s payout ratio is presently 53.03%.

Analyst Ratings Changes

INDB has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Independent Bank in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded shares of Independent Bank from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $83.00 in a report on Tuesday, October 21st. Independent Research set a $80.00 price target on shares of Independent Bank in a research report on Wednesday, December 17th. Finally, Barclays began coverage on Independent Bank in a report on Wednesday, December 17th. They set an “equal weight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Independent Bank has a consensus rating of “Hold” and an average target price of $76.50.

Insider Transactions at Independent Bank

In other Independent Bank news, Director Ken S. Ansin sold 144,000 shares of Independent Bank stock in a transaction dated 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 transaction, the director directly owned 288,481 shares of the company’s stock, valued at $20,176,361.14. The trade was a 33.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas R. Venables sold 405 shares of Independent Bank stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $73.93, for a total transaction of $29,941.65. Following the sale, the director directly owned 20,557 shares in the company, valued at approximately $1,519,779.01. The trade was a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 200,405 shares of company stock worth $13,971,482 in the last ninety days. Insiders own 0.81% of the company’s stock.

About Independent Bank

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.