On May 13, 2026, Channing Capital Management, LLC disclosed a new position in Independent Bank (NASDAQ:INDB), acquiring 939,667 shares in an estimated $73.65 million trade based on the quarterly average price.
What happened According to a SEC filing dated May 13, 2026, Channing Capital Management, LLC initiated a new stake in Independent Bank, purchasing 939,667 shares
The estimated transaction value was $73.65 million, based on the average first-quarter 2026 closing price. At the end of the quarter, the position was valued at $70.67 million, reflecting both the purchase and subsequent price movement. What else to know This new position accounts for 1.8098% of Channing Capital’s 13F assets under management as of March 31, 2026 Top five holdings after the filing: – NASDAQ:LFUS: $99.92 million (2.6% of AUM) – NYSE:MSA: $99.59 million (2.6% of AUM) – NYSE:VVV: $99.10 million (2.5% of AUM) – NYSE:SWX: $96.18 million (2.5% of AUM) – NYSE:TKR: $93.55 million (2.4% of AUM) As of May 13, 2026, shares of Independent Bank were priced at $76.17, up 20.87% over the past year, underperforming the S&P 500 by 5.60 percentage points in that period Company Overview Company Snapshot – Offers a full suite of commercial banking products and services, including checking and savings accounts, commercial and consumer loans, investment management, and trust services. – Generates revenue primarily through net interest income on loans and deposits, as well as fee-based income from wealth management and transaction services. – Serves individuals, small-to-medium-sized businesses, and institutional clients, with a primary focus on the Eastern Massachusetts region.
Independent Bank is a leading regional bank holding company, operating through Rockland Trust Company with a significant presence in Eastern Massachusetts. The company offers a diversified range of products and services, including commercial banking, wealth management, and trust services. The company provides comprehensive…