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Independent Bank Corp. INDB R2KR3KFINANCIAL

Financial Services · Banks - Regional · United States
https://www.rocklandtrust.com
Company Profile ↓
$83.90
+27.71% 1Y
Mkt Cap$4.00B
P/E15.17
P/B1.14
Div. Yield2.93%
52W High$87.17
52W Low$62.86
Book Value$73.76
EPS (TTM)$5.53

Company Overview

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. It provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. The company also offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, it provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; interchange fees; ATM fees; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, the company invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

Why Investors Should Care

Consistent Profit Growth

Net profit has compounded at 14.7% per year over the last five years.

Reasonable Valuation

Trades at an undemanding P/E of 15.2.

Healthy Margins

Maintains a net profit margin of 28.6%.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.22.

Dividend Income

Offers a dividend yield of 2.93%.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Trailing 12 Months Year-on-year growth — revenue +41.5%, earnings +41.8%.
  • 5-Year Trend Long-term compounding — profit CAGR 14.7%.

Growth & Price Performance

Compounded Sales Growth

5 Years:-
1 Year:41.50%

Compounded Profit Growth

5 Years:14.66%
1 Year:41.80%

Stock Price Performance

1 Year:+27.71%
6 Months:+10.45%
3 Months:+6.24%
1 Month:-0.10%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 87% of range
$62.86 $87.17
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)52.84 · Neutral
Price Performance
1M-0.10%
3M+6.24%
6M+10.45%
1Y+27.71%
Valuation vs Sector

P/E of 15.17 is above the sector median of 14.52 — pricier than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Excellent profit margin of 28.6%.
  • Profit CAGR of 14.7% over 5 years.
  • Attractive dividend yield of 2.93%.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
15.17
Industry PE
14.52
Forward P/E
10.09
PEG Ratio
11.00
Book Value
$73.76
Price to Book
1.14
P/S
4.20
EV/EBITDA
-
Dividend Yield
2.93%

Growth (CAGR)

Revenue 5Y
-
Profit 5Y
14.66%
Revenue (YoY)
41.50%
Earnings (YoY)
41.80%

Profitability & Returns

ROCE
-
ROE
8.24%
ROA
1.21%
Profit Margin
28.60%
Op Margin
47.25%
Gross Margin
0.00%
EPS (Latest Qtr)
$1.70
EPS (TTM)
$5.53

Balance Sheet & Liquidity

Debt/Equity
0.22
Quick Ratio
-
Current Ratio
-
Debt
$701.47M
Total Assets
$24.97B
Current Assets
-
Working Capital
-

Ownership

Promoter Holding
1.65%
Chg in Prom Hold
-0.01%
FII / Inst Holding
88.33%
Chg in FII Hold
0.03%

Financial Snapshot

Enterprise Value
$4.00B
Total Revenue (TTM)
$948.69M
EBITDA
-
Free Cash Flow
$239.03M
Operating Cash Flow
$251.16M
Shares Outstanding
47.62M
Gross Margin
0.00%
Payout Ratio
44.48%

Peer comparison

Peer companies in the same sector (Financial Services).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 INDB Independent Bank Corp. R2KR3KFINANCIAL 83.90 15.17 $4.00B 2.93% - 8.24% - 14.66%
2 JPM JPMorgan Chase & Co. SPXR3KFINANCIAL 358.64 15.37 $953.34B 1.68% - 17.79% 12.50% 14.83%
3 BRK-B Berkshire Hathaway Inc. SPXFINANCIAL 506.03 15.07 $707.59B 0.00% - 10.50% 4.18% 9.44%
4 V Visa Inc. SPXR3KFINANCIAL 374.00 31.86 $637.34B 0.72% 37.15% 61.19% 14.33% 13.04%
5 MA Mastercard Incorporated SPXR3KFINANCIAL 579.21 31.82 $503.60B 0.60% 60.19% - 12.29% 19.21%
6 BAC Bank of America Corporation SPXR3KFINANCIAL 62.68 14.48 $438.31B 2.03% - 11.20% 3.14% 4.27%
7 BRK-A Berkshire Hathaway Inc. FINANCIAL 759,350.00 15.07 $384.00B 0.00% - 10.50% 7.60% 10.02%
8 HSBC HSBC Holdings plc FINANCIAL 107.11 15.30 $367.34B 3.62% - 13.10% 9.75% 12.72%
9 MS Morgan Stanley SPXR3KFINANCIAL 217.72 17.59 $342.26B 2.15% - 17.97% 3.76% 9.66%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Jun 2015Sep 2015Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Mar 2025Jun 2025Sep 2025Mar 2026Jun 2026
Net Income 17.45M18.59M19.45M18.61M20.37M20.48M17.18M20.73M20.56M23.85M22.06M27.55M31.12M33.02M29.93M35.23M30.63M51.84M47.48M26.75M24.90M34.87M34.64M41.71M37.57M40.01M53.10M61.78M71.90M61.25M62.64M60.81M47.77M51.33M42.95M44.42M51.10M34.26M79.92M81.84M
Diluted EPS 0.670.710.740.710.770.780.640.760.750.870.801.001.131.201.071.250.891.511.380.780.761.061.051.261.141.211.121.321.571.361.421.381.121.211.011.041.200.691.631.70

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Net Income 22.99M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M205.12M
Diluted EPS 0.881.902.121.952.182.492.502.903.194.405.033.643.475.695.424.524.44

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --4.70B4.97B5.76B6.10B6.36B7.21B7.71B8.08B8.85B11.40B13.20B20.42B19.29B19.35B19.37B24.91B
Total Equity 305.27M412.65M436.47M469.06M529.32M591.54M640.53M771.46M864.69M943.81M1.07B1.71B1.70B3.02B2.89B2.90B2.99B3.57B
Long Term Debt ---181.47M154.13M153.91M188.69M107.89M107.74M107.75M110.90M187.35M145.32M126.71M112.74M112.84M62.86M359.35M
Total Liabilities --4.26B4.50B5.23B5.51B5.72B6.44B6.84B7.14B7.78B9.69B11.50B17.40B16.41B16.45B16.38B21.35B

Cash Flows (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 31.42M46.65M56.47M43.95M141.34M90.31M89.54M92.90M130.91M141.84M216.52M64.64M190.22M421.20M276.99M229.92M251.16M
Investing Cash Flow 205.18M-163.78M-190.77M-267.94M-208.60M-292.67M-205.54M-238.89M-316.77M-387.51M20.16M-488.21M-63.14M-1.00B-211.65M-33.01M5.05M
Financing Cash Flow -164.80M156.51M210.52M201.96M68.11M164.30M213.51M159.32M109.88M283.01M-336.16M1.57B816.96M-1.31B-193.95M-201.35M295.80M
Capital Expenditure -6.60M-7.02M-8.32M-6.26M-9.29M-7.68M-10.49M-10.39M-25.08M-11.11M-16.58M-12.59M-25.20M-22.07M-15.84M-20.43M-12.13M
Free Cash Flow 24.82M39.63M48.15M37.69M132.04M82.63M79.06M82.50M105.83M130.73M199.94M52.05M165.02M399.13M261.15M209.49M239.03M
Share Buybacks ---------0095.09M0139.95M188.91M30.99M60.85M

Ratios (Annual)

Figures in %.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -----------------
Operating Margin % -----------------
Net Margin % -----------------
ROE % 5.6%9.2%9.7%8.1%8.5%9.3%8.4%8.9%9.2%11.3%9.7%7.1%4.0%9.1%8.3%6.4%5.8%
ROCE % -----------------

Shareholding Pattern

Insiders
1.65%
Institutions
88.33%
Public Float
89.81%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 14.73% 6.98M $572.75M
2 Vanguard Portfolio Management LLC 6.91% 3.27M $268.61M
3 State Street Corporation 5.59% 2.65M $217.12M
4 Dimensional Fund Advisors LP 5.56% 2.63M $216.12M
5 Vanguard Capital Management LLC 4.58% 2.17M $178.17M
6 Geode Capital Management, LLC 3.04% 1.44M $118.20M
7 Rockland Trust Company 3.01% 1.43M $117.18M
8 Alliancebernstein L.P. 2.49% 1.18M $96.76M
9 Channing Capital Management, LLC 2.01% 953.43K $78.24M
10 Nomura Asset Management International Inc 1.94% 917.17K $75.26M

Analyst View

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Latest News

Recent headlines for INDB

Google News Fri, 17 Jul 2026

Why Independent Bank (INDB) Shares Are Getting Obliterated Today - Yahoo Finance

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Google News Fri, 28 Aug 2026

INDB|Independent Bank Corp (Massachusetts)|Price:81.250|Chg%:-0.810 - tradingkey.com

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Google News hu, 16 Jul 2026

Independent Bank Corp. (NASDAQ:INDB) Shares Slip on Q2 Earnings Miss, But Fundamentals Show Underlying Strength - ChartMill

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Google News hu, 16 Jul 2026

Independent Bank (NASDAQ:INDB) Misses Q2 CY2026 Sales Expectations, Stock Drops - StockStory

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Google News ue, 25 Aug 2026

Independent Bank (NASDAQ: INDB) director plans sale of 3,750 shares - Stock Titan

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INDB — Frequently Asked Questions

What is the current share price of Independent Bank Corp. (INDB)?

As of 2026-09-07 16:24 PDT, Independent Bank Corp. (INDB) trades at $83.90 on NasdaqGS. Its 52-week range is $62.86 to $87.17.

What is the market capitalisation of INDB?

Independent Bank Corp. (INDB) has a market capitalisation of $4.00B on NasdaqGS.

What is the P/E ratio of INDB?

INDB trades at a trailing price-to-earnings (P/E) ratio of 15.17. The industry average P/E is 14.52. Its price-to-book (P/B) ratio is 1.14.

Does INDB pay a dividend?

Independent Bank Corp. (INDB) currently offers a dividend yield of 2.93%.

What is the return on equity (ROE) of INDB?

INDB has a return on equity (ROE) of 8.24%.

Is INDB a good stock to buy?

This page provides a data-driven analysis of Independent Bank Corp. (INDB), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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