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INDBIndependent Bank Corp.
$80.24$3.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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INDB logo

Independent Bank Corp.

INDB
NASDAQ · Regional Banks
$80.24
At close - Sep 24, 4:00 PM EDT - USD
Market Cap$3.87B
P/E18.0x
52W High$87.50
Volume345.18K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

NII Surge Masks Thin Margin and Credit Volatility

Independent Bank Corp. is experiencing accelerating revenue growth, with net interest income up 43% year-over-year to $210.9M in Q2 2026, driven by the Meridian acquisition and loan repricing. However, the net interest margin remains thin at 0.8%, and the effi...

GrowthAccelerating
ProfitabilityModerate
ValuationReview
TechnicalsMixed
Explore valuation models
MARKET ACTION

INDB price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

+25% Peers

P/E is 25% above peer median

03

Market leadership

RS 61 · Avg

Average momentum (RS Rating: 61)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Oct 16

Market performance

Price History →

Trailing total returns as of 9/25/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
INDB+11.38%
S&P 500 (^GSPC)+12.30%
1-Year Return
INDB+17.40%
S&P 500 (^GSPC)+16.05%
3-Year Return
INDB+77.97%
S&P 500 (^GSPC)+78.41%
5-Year Return
INDB+23.65%
S&P 500 (^GSPC)+73.51%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
18.0x
Forward P/EExpansion
11.2x
EV/EBITDA100th %ile
14.8x
FCF YieldCash Flow
6.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
18.0x
14.8x
80th· High
EV/EBITDA
14.8x
11.1x
100th· High
Price/FCF
16.2x
13.0x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$29.11-63.7%
Base (Fair)$55.58-32.4%
Bull$88.43+10.2%
$29.11 Bear$55.58 Base$88.43 Bull
Current Market Price: $80.24
Trades at a 44.4% premium to Base DCF ($55.58)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$854M+25.0% YoY
Net income
$205M+6.8% YoY
Free cash flow
$240M+14.3% YoY
Operating margin
22.9%-2.5 pts YoY
ROIC (TTM)4.9%
Avg ROIC 5Y-
ROE (TTM)6.3%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (60%)
Revenue Beat Rate8/12 (80%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 16, 2026
$1.70-5.0%
vs $1.79
$253M-1.6%
vs $258M
Q2 2026
Apr 16, 2026
$1.68+1.2%
vs $1.66
$253M+1.0%
vs $250M
Q1 2026
Feb 27, 2026
$1.52
vs —
$339M
vs —
Q1 2026
Jan 22, 2026
$1.70+3.0%
vs $1.65
$254M+1.7%
vs $250M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·Sep 17, 2026
Independent Bank Corp. Announces Quarterly Dividend

ROCKLAND, Mass.--(BUSINESS WIRE)--The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.64 per share dividend. The dividend will be payable on October 9, 2026, to stockholders of record as of the close of business on September 28, 2026. ABOUT INDEPENDENT BANK CORP. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headq.

Defense World·Aug 24, 2026
BlackRock Inc. Buys New Position in Independent Bank Corp. $INDB

BlackRock Inc. purchased a new stake in Independent Bank Corp. (NASDAQ: INDB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,979,611 shares of the bank's stock, valued at approximately $584,333,000. BlackRock Inc. owned about 14.44% of Independent Bank as of its most

Seeking Alpha·Jul 17, 2026
Independent Bank Corp. (INDB) Q2 2026 Earnings Call Transcript

Independent Bank Corp. (INDB) Q2 2026 Earnings Call Transcript

MarketBeat·Jul 17, 2026
Independent Bank Q2 Earnings Call Highlights

Independent Bank NASDAQ: INDB reported second-quarter 2026 net income of $81.8 million, or $1.70 per diluted share, as executives said stronger deposit momentum, C&I lending growth, margin expansion and share repurchases supported profitability despite pressure from commercial real estate payoffs.

Filtered for Independent Bank Corp.More Headlines
04

Compare before deciding

Benchmark INDB against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Independent Bank Corp. (INDB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
INDB logoINDBIndependent Bank Corp.Current
$80.24$3.87B18.0324.96%17.57%6.25%2.62%
WSFS logoWSFSWSFS Financial Corporation
$77.32$4.02B15.192.08%29.27%11.78%—
NBTB logoNBTBNBT Bancorp Inc.
$51.13$2.66B15.3514.54%22.65%11.26%—
TRMK logoTRMKTrustmark Corporation
$46.09$2.7B12.4677.36%19.84%11.01%—
CVBF logoCVBFCVB Financial Corp.
$22.30$3.2B14.677.23%29.31%8.22%—
IBCP logoIBCPIndependent Bank Corporation
$35.62$733.99M10.894.57%22.71%14.12%—

Compare INDB vs Peers

Independent Bank Corp. (INDB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WSFS

Most directly comparable listed peer for INDB.

Scale Benchmark

vs ICE

Larger-name benchmark to compare INDB against a more recognizable public peer.

Peer Set

Compare Top 5

vs WSFS, NBTB, TRMK, CVBF

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

INDB SEC Filings & Documents

Independent Bank Corp. (INDB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 27, 2026·SEC

Material company update

Jul 16, 2026·SEC

Material company update

Jun 18, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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INDB Frequently Asked Questions

Independent Bank Corp. (INDB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Independent Bank Corp. growing?

Independent Bank Corp. (INDB) grew revenue by 25.0% over the past year. This is strong growth.

Is INDB profitable?

Yes, Independent Bank Corp. (INDB) is profitable, generating $271.4M in net income for fiscal year 2025 (17.6% net margin).

Dividend & Returns
Does INDB pay dividends?

Yes, Independent Bank Corp. (INDB) pays a dividend with a yield of 2.62%. This makes it attractive for income-focused investors.

What is INDB's return on equity?

Independent Bank Corp. (INDB) has a return on equity (ROE) of 6.3%. This is below average, suggesting room for improvement.

Industry Metrics
What is Independent Bank Corp.'s net interest margin?

Independent Bank Corp. (INDB) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

What is Independent Bank Corp.'s efficiency ratio?

Independent Bank Corp. (INDB) has an efficiency ratio of 45.1%. This is excellent, indicating strong cost control.

What if you invested $1,000 in INDB back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →