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

Key Points

• Rep. Gilbert Ray Cisneros, Jr. disclosed a recent purchase of Independent Bank Corp. shares worth between $1,001 and $15,000, made on May 29 and reported on June 8.
• Independent Bank Corp. (NASDAQ: INDB) opened around $80.61 and has traded between a 52-week low of $57.01 and high of $87.00, while recently posting quarterly EPS of $1.68, slightly below estimates.
• The company raised its quarterly dividend to $0.64 per share from $0.59, implying an annualized yield of about 3.2%; analysts currently rate the stock a Moderate Buy with a consensus target price of $90.71.

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 1.5%

NASDAQ INDB opened at $80.61 on Wednesday. Independent Bank Corp. has a one year low of $57.01 and a one year high of $87.00. The company's 50 day moving average price is $78.19 and its 200 day moving average price is $77.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 15.99 and a beta of 0.77.

Independent Bank (NASDAQ:INDB - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $1.68 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.02). Independent Bank had a net margin of 19.14% and a return on equity of 8.66%. The business had revenue of $252.72 million during the quarter, compared to analysts' expectations of $251.45 million. During the same quarter in the previous year, the business posted $1.06 EPS. On average, sell-side analysts predict that Independent Bank Corp. will post 7.33 EPS for the current year.

Independent Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Monday, March 30th were issued a $0.64 dividend. The ex-dividend date was Monday, March 30th. This is a positive change from Independent Bank's previous quarterly dividend of $0.59. This represents a $2.56 annualized dividend and a yield of 3.2%. Independent Bank's payout ratio is 50.79%.

Institutional Trading of Independent Bank

Hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC grew its position in shares of Independent Bank by 167.2% during the fourth quarter. Salomon & Ludwin LLC now owns 358 shares of the bank's stock worth $27,000 after buying an additional 224 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Independent Bank during the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in shares of Independent Bank by 233.3% during the second quarter. EverSource Wealth Advisors LLC now owns 550 shares of the bank's stock worth $35,000 after buying an additional 385 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Independent Bank during the third quarter worth approximately $42,000. Finally, First Horizon Corp grew its position in shares of Independent Bank by 47.8% during the fourth quarter. First Horizon Corp now owns 659 shares of the bank's stock worth $48,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Buying and Selling at Independent Bank

In other news, Director Joseph C. Lerner sold 2,832 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $77.31, for a total transaction of $218,941.92. Following the completion of the sale, the director owned 16,215 shares of the company's stock, valued at approximately $1,253,581.65. This trade represents a 14.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on INDB shares. Independent Research set a $95.00 price objective on shares of Independent Bank in a research report on Friday, May 15th. Piper Sandler started coverage on shares of Independent Bank in a research report on Monday, March 16th. They issued a "neutral" rating and a $84.00 price objective for the company. Stephens started coverage on shares of Independent Bank in a research report on Wednesday, April 15th. They issued an "overweight" rating and a $88.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Independent Bank from $96.00 to $94.00 and set an "outperform" rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings raised shares of Independent Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.71.

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.

Independent Bank Company Profile

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.

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