Rep. Gilbert Ray Cisneros, Jr. Purchases Shares of Independent Bank Corp. (NASDAQ:INDB)

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently bought shares of Independent Bank Corp. (NASDAQ:INDB). In a filing disclosed on June 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Independent Bank stock on May 29th. The trade occurred in the Representative’s “150 MAIN STREET TRUST > BANK OF AMERICA” account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of SoftBank Group (OTCMKTS:SFTBF) on 6/2/2026.
• Purchased $1,001 – $15,000 in shares of Ciena (NYSE:CIEN) on 5/29/2026.
• Sold $1,001 – $15,000 in shares of AutoZone (NYSE:AZO) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of Arcutis Biotherapeutics (NASDAQ:ARQT) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of HealthEquity (NASDAQ:HQY) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of Boston Scientific (NYSE:BSX) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of Perella Weinberg Partners (NASDAQ:PWP) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of Cooper Companies (NASDAQ:COO) on 5/29/2026.
• Purchased $1,001 – $15,000 in shares of Ligand Pharmaceuticals (NASDAQ:LGND) on 5/29/2026.
• Sold $15,001 – $50,000 in shares of Workday (NASDAQ:WDAY) on 5/29/2026.

Independent Bank Trading Up 0.9%

Shares of NASDAQ INDB traded up $0.72 during trading hours on Wednesday, hitting $81.33. The company’s stock had a trading volume of 276,746 shares, compared to its average volume of 333,938. The business has a 50-day simple moving average of $78.34 and a 200-day simple moving average of $77.62. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 16.14 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. Independent Bank Corp. has a 12 month low of $57.01 and a 12 month high of $87.00.

Independent Bank (NASDAQ:INDB) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.02). The business had revenue of $252.72 million during the quarter, compared to analysts’ expectations of $251.45 million. Independent Bank had a return on equity of 8.66% and a net margin of 19.14%.During the same quarter last year, the business posted $1.06 EPS. On average, analysts anticipate that Independent Bank Corp. will post 7.33 earnings per share for the current fiscal year.

Independent Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 30th were issued a $0.64 dividend. This is a boost from Independent Bank’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, March 30th. This represents a $2.56 dividend on an annualized basis and a yield of 3.1%. Independent Bank’s payout ratio is 50.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Independent Bank from $96.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, April 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $97.00 price target on shares of Independent Bank in a research note on Friday, April 17th. Hovde Group initiated coverage on Independent Bank in a report on Friday, May 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Barclays boosted their target price on shares of Independent Bank from $80.00 to $82.00 and gave the company an “underweight” rating in a report on Tuesday, April 7th. Finally, Independent Research set a $95.00 target price on shares of Independent Bank in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Insider Buying and Selling

In other Independent Bank news, Director Joseph C. Lerner sold 2,832 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $77.31, for a total value of $218,941.92. Following the completion of the transaction, the director directly owned 16,215 shares in the company, valued at $1,253,581.65. This represents a 14.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Independent Bank

Institutional investors have recently modified their holdings of the business. Cibc World Market Inc. bought a new stake in Independent Bank during the third quarter valued at about $6,506,000. HighTower Advisors LLC boosted its stake in shares of Independent Bank by 242.9% in the third quarter. HighTower Advisors LLC now owns 23,406 shares of the bank’s stock worth $1,619,000 after acquiring an additional 16,581 shares during the period. Rockland Trust Co. grew its position in shares of Independent Bank by 84.1% during the fourth quarter. Rockland Trust Co. now owns 1,261,622 shares of the bank’s stock worth $92,199,000 after purchasing an additional 576,183 shares in the last quarter. White Pine Capital LLC purchased a new stake in shares of Independent Bank during the third quarter worth about $1,792,000. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in Independent Bank during the 3rd quarter valued at approximately $5,511,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California’s 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California’s 31st Congressional District. He declared candidacy for the 2026 election.

Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor’s degree in political science from George Washington University in 1994, a master’s in business administration from Regis University in 2002, and a master’s degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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.