Seaward Management Limited Partnership Lowers stake in Independent Bank Corp (INDB)

Independent Bank Corp (INDB) : Seaward Management Limited Partnership reduced its stake in Independent Bank Corp by 0.88% during the most recent quarter end. The investment management company now holds a total of 141,965 shares of Independent Bank Corp which is valued at $6,814,320 after selling 1,265 shares in Independent Bank Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Independent Bank Corp makes up approximately 0.36% of Seaward Management Limited Partnership’s portfolio.

Independent Bank Corp closed down -0.41 points or -0.86% at $47.5 with 1,32,459 shares getting traded on Wednesday. Post opening the session at $47.74, the shares hit an intraday low of $47.01 and an intraday high of $47.88 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Btim Corp. reduced its stake in INDB by selling 5,298 shares or 1.43% in the most recent quarter. The Hedge Fund company now holds 366,267 shares of INDB which is valued at $17,580,816. Independent Bank Corp makes up approx 0.30% of Btim Corp.’s portfolio.Capstone Asset Management Co reduced its stake in INDB by selling 790 shares or 9.33% in the most recent quarter. The Hedge Fund company now holds 7,676 shares of INDB which is valued at $351,791. Independent Bank Corp makes up approx 0.01% of Capstone Asset Management Co’s portfolio.New England Research Management boosted its stake in INDB in the latest quarter, The investment management firm added 7,624 additional shares and now holds a total of 24,578 shares of Independent Bank Corp which is valued at $1,080,695. Independent Bank Corp makes up approx 0.93% of New England Research Management’s portfolio.

On the company’s financial health, Independent Bank Corp reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.68.Analysts expectations of $ 73.90.

Many Wall Street Analysts have commented on Independent Bank Corp. Compass Point Downgraded Independent Bank Corp on Apr 22, 2016 to ” Neutral”, Price Target of the shares are set at $47.

Independent Bank Corp. is a state chartered federally registered bank holding company. The Company is the sole stockholder of Rockland Trust Company (Rockland or the Bank). The Bank is a community-oriented commercial bank. The Company’s community banking business provides a range of banking services including lending activities acceptance of demand savings and time deposits and investment management. The Rockland Trust Investment Management Group provides investment management and trust services to individuals institutions small businesses and charitable institutions throughout eastern Massachusetts including Cape Cod and Rhode Island. The bank has 74 banking offices and three limited service branches located within Barnstable Bristol Middlesex Norfolk Plymouth and Worcester counties in eastern Massachusetts.

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