Symbols / INDB Stock $76.71 -1.91% Independent Bank Corp.

Financial Services • Banks - Regional • United States • NMS
INDB (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. Jeffrey J. Tengel
Exch · Country NMS · United States
Market Cap 3.70B
Enterprise Value 3.78B
Income 240.62M
Sales 876.23M
FCF (ttm) —
Book/sh 72.33
Cash/sh 15.64
Employees 2,294
Insider 10d —
IPO May 14, 1986
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 47.91%
P/E 15.25
Forward P/E 9.20
PEG 11.00
P/S 4.22
P/B 1.06
P/C —
EV/EBITDA —
EV/Sales 4.31
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 5.03
EPS next Y 8.34
EPS Growth 56.70%
Revenue Growth 51.60%
EPS Gr Q/Q 79.90%
Rev Gr Q/Q —
Earnings (next) 2026-04-16
Earnings (prior) 2026-04-16
ROA 1.08%
ROE 7.32%
ROIC —
Gross Margin 0.00%
Oper. Margin 47.55%
Profit Margin 27.46%
Shs Outstand 48.25M
Shs Float 47.73M
Insider Own 1.62%
Instit Own 90.02%
Short Float 5.50%
Short Ratio 5.51
Short Interest 1.99M
52W High 87.00
vs 52W High -11.83%
52W Low 57.01
vs 52W Low 34.56%
Beta 0.80
Impl. Vol. 3.13%
Rel Volume 1.25
Avg Volume 335.69K
Volume 419.57K
Target (mean) $89.83
Tgt Median $91.00
Tgt Low $82.00
Tgt High $97.00
# Analysts 6
Recom None
Prev Close $78.20
Price $76.71
Change -1.91%
About

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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$89.83
Mean price target
2. Current target
$76.71
Latest analyst target
3. DCF / Fair value
$75.45
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$76.71
Low
$82.00
High
$97.00
Mean
$89.83

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-20 main Keefe, Bruyette & Woods Outperform → Outperform $94
2026-04-16 init Stephens & Co. — → Overweight $88
2026-04-07 main Barclays Underweight → Underweight $82
2026-02-02 down Barclays Equal-Weight → Underweight $80
2025-12-17 init Barclays — → Equal-Weight $80
2025-10-21 up Keefe, Bruyette & Woods Market Perform → Outperform $83
2025-04-21 main Keefe, Bruyette & Woods Market Perform → Market Perform $72
2025-04-21 main Piper Sandler Neutral → Neutral $63
2025-01-21 main Keefe, Bruyette & Woods Market Perform → Market Perform $80
2025-01-21 reit Raymond James Strong Buy → Strong Buy $78
2024-12-12 main Keefe, Bruyette & Woods Market Perform → Market Perform $82
2024-12-04 main Keefe, Bruyette & Woods Market Perform → Market Perform $77
2024-10-21 up Raymond James Market Perform → Strong Buy $74
2024-10-21 main Keefe, Bruyette & Woods Market Perform → Market Perform $65
2024-07-22 up Seaport Global Neutral → Buy $65
2024-04-22 main Keefe, Bruyette & Woods Market Perform → Market Perform $60
2024-01-22 main Keefe, Bruyette & Woods Market Perform → Market Perform $64
2023-10-23 up Seaport Global Sell → Neutral —
2023-09-12 init Seaport Global — → Sell $45
2023-04-25 main Keefe, Bruyette & Woods — → Market Perform $68
News
RSS: Latest INDB news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-10 LENTZ MARY L. Director — 810 $0.00 $0
2026-03-12 TENGEL JEFFREY J Chief Executive Officer — 4,656 $0.00 $0
2026-03-12 NADEAU GERARD F Director — 1,337 $0.00 $0
2026-03-12 RUGGIERO MARK J Chief Financial Officer — 1,706 $0.00 $0
2026-03-12 HARRIS MARIA S Officer — 784 $0.00 $0
2026-03-12 RIZZO JAMES T. Officer — 738 $0.00 $0
2026-03-12 O'MALLEY KATHRYN Officer — 692 $0.00 $0
2026-02-27 POWLUS LEE C Officer — 504 $78.81 $39,719
2026-02-27 RUGGIERO MARK J Officer — 1,049 $78.81 $82,669
2026-02-19 TENGEL JEFFREY J Chief Executive Officer — 8,400 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
849.03
+24.29%
683.11
-5.40%
722.13
+0.26%
720.25
Operating Revenue
849.03
+24.29%
683.11
-5.40%
722.13
+0.26%
720.25
Selling General And Administration
300.00
+22.68%
244.54
+4.47%
234.09
+10.60%
211.66
Selling And Marketing Expense
—
—
—
—
General And Administrative Expense
300.00
+22.68%
244.54
+4.47%
234.09
+10.60%
211.66
Salaries And Wages
287.50
+23.05%
233.65
+5.19%
222.13
+8.51%
204.71
Other Gand A
—
—
—
10.96
Reconciled Depreciation
42.14
+3.06%
40.89
+13.26%
36.10
-6.95%
38.80
Total Unusual Items
-39.63
-1983.86%
-1.90
0.00
+100.00%
-7.10
Total Unusual Items Excluding Goodwill
-39.63
-1983.86%
-1.90
0.00
+100.00%
-7.10
Special Income Charges
-39.63
-1983.86%
-1.90
0.00
+100.00%
-7.10
Impairment Of Capital Assets
—
—
—
0.00
Restructuring And Mergern Acquisition
39.63
+1983.86%
1.90
0.00
-100.00%
7.10
Net Income
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Pretax Income
262.17
+6.09%
247.13
-21.58%
315.13
-9.38%
347.75
Net Interest Income
708.83
+26.19%
561.73
-7.39%
606.52
-1.10%
613.25
Interest Expense
313.57
+7.75%
291.02
+53.81%
189.21
+539.40%
29.59
Interest Income
1,022.40
+19.89%
852.75
+7.17%
795.73
+23.78%
642.84
Gain On Sale Of Security
3.56
+68.35%
2.12
-36.37%
3.33
+13.47%
2.93
Tax Provision
57.05
+3.64%
55.05
-27.22%
75.63
-9.90%
83.94
Tax Rate For Calcs
0.00
-2.29%
0.00
-7.21%
0.00
-0.58%
0.00
Tax Effect Of Unusual Items
-8.62
-1936.14%
-0.42
0.00
+100.00%
-1.71
Net Income Including Noncontrolling Interests
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Net Income From Continuing Operation Net Minority Interest
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Net Income From Continuing And Discontinued Operation
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Net Income Continuous Operations
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Normalized Income
236.13
+21.99%
193.56
-19.18%
239.50
-11.03%
269.20
Net Income Common Stockholders
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Diluted EPS
4.44
-1.77%
4.52
-16.61%
5.42
-4.75%
5.69
Basic EPS
4.44
-1.77%
4.52
-16.61%
5.42
-4.75%
5.69
Basic Average Shares
46.17
+8.64%
42.50
-3.81%
44.18
-4.72%
46.37
Diluted Average Shares
46.19
+8.65%
42.51
-3.81%
44.19
-4.73%
46.39
Diluted NI Availto Com Stockholders
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Amortization
16.91
+186.37%
5.91
-14.15%
6.88
-10.15%
7.66
Amortization Of Intangibles Income Statement
16.91
+186.37%
5.91
-14.15%
6.88
-10.15%
7.66
Depreciation Amortization Depletion Income Statement
16.91
+186.37%
5.91
-14.15%
6.88
-10.15%
7.66
Depreciation And Amortization In Income Statement
16.91
+186.37%
5.91
-14.15%
6.88
-10.15%
7.66
Insurance And Claims
12.50
+14.76%
10.89
-8.88%
11.95
+71.96%
6.95
Occupancy And Equipment
57.60
+10.61%
52.07
+2.95%
50.58
+1.49%
49.84
Other Non Interest Expense
100.64
+14.12%
88.19
+5.94%
83.24
+3.90%
80.12
Professional Expense And Contract Services Expense
6.61
-7.19%
7.12
-20.43%
8.95
-6.89%
9.62
Line Item Trend 2025-12-31 2024-12-31 2023-12-31
Total Assets
24,912.90
+28.59%
19,373.56
+0.14%
19,347.37
Cash And Cash Equivalents
771.90
+251.04%
219.89
-1.98%
224.33
Cash Financial
229.77
+22.32%
187.85
+5.03%
178.86
Other Short Term Investments
437.29
-65.04%
1,250.94
-6.24%
1,334.26
Net PPE
218.19
+12.86%
193.32
+0.14%
193.05
Gross PPE
405.43
+13.18%
358.23
+5.86%
338.40
Accumulated Depreciation
-187.24
-13.54%
-164.91
-13.45%
-145.35
Land And Improvements
59.28
+12.20%
52.83
-0.02%
52.84
Buildings And Improvements
125.15
+19.31%
104.90
+4.93%
99.97
Machinery Furniture Equipment
124.69
+10.74%
112.60
+10.12%
102.25
Other Properties
32.65
+0.00%
32.65
+0.00%
32.65
Leases
63.65
+15.21%
55.24
+9.00%
50.68
Goodwill And Other Intangible Assets
1,224.19
+22.74%
997.36
-0.59%
1,003.26
Goodwill
1,090.61
+10.71%
985.07
+0.00%
985.07
Other Intangible Assets
133.58
+987.40%
12.28
-32.47%
18.19
Investments And Advances
3,309.57
+22.06%
2,711.35
-7.49%
2,930.86
Total Liabilities Net Minority Interest
21,347.17
+30.32%
16,380.44
-0.44%
16,452.12
Current Debt And Capital Lease Obligation
49.95
—
—
Current Debt
49.95
—
—
Long Term Debt And Capital Lease Obligation
775.89
+10.62%
701.37
-42.43%
1,218.38
Long Term Debt
775.89
+10.62%
701.37
-42.43%
1,218.38
Stockholders Equity
3,565.73
+19.13%
2,993.12
+3.38%
2,895.25
Common Stock Equity
3,565.73
+19.13%
2,993.12
+3.38%
2,895.25
Capital Stock
0.49
+15.84%
0.42
-0.94%
0.43
Common Stock
0.49
+15.84%
0.42
-0.94%
0.43
Preferred Stock
0.00
0.00
0.00
Share Issued
49.24
+15.87%
42.50
-1.05%
42.95
Ordinary Shares Number
49.17
+15.90%
42.42
-1.05%
42.87
Treasury Shares Number
0.08
-3.64%
0.08
-2.66%
0.08
Additional Paid In Capital
2,335.88
+22.30%
1,909.98
-1.15%
1,932.16
Retained Earnings
1,269.11
+8.22%
1,172.72
+8.84%
1,077.49
Gains Losses Not Affecting Retained Earnings
-39.75
+55.83%
-90.01
+21.62%
-114.83
Other Equity Adjustments
-39.75
+55.83%
-90.01
+21.62%
-114.83
Total Equity Gross Minority Interest
3,565.73
+19.13%
2,993.12
+3.38%
2,895.25
Total Capitalization
4,341.62
+17.52%
3,694.49
-10.19%
4,113.63
Invested Capital
4,391.57
+18.87%
3,694.49
-10.19%
4,113.63
Total Debt
825.85
+17.75%
701.37
-42.43%
1,218.38
Net Debt
53.95
-88.80%
481.48
-51.56%
994.05
Net Tangible Assets
2,341.54
+17.33%
1,995.76
+5.48%
1,891.99
Tangible Book Value
2,341.54
+17.33%
1,995.76
+5.48%
1,891.99
Available For Sale Securities
1,692.79
+7883.33%
21.20
-5.80%
22.51
Cash Cash Equivalents And Federal Funds Sold
771.90
+251.04%
219.89
-1.98%
224.33
Held To Maturity Securities
1,174.78
-18.13%
1,434.96
-8.55%
1,569.11
Line Of Credit
49.95
—
—
Minimum Pension Liabilities
0.00
0.00
0.00
Other Equity Interest
—
-3.38
-2.58%
-3.30
Trading Securities
4.72
+11.19%
4.25
-14.88%
4.99
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
251.16
+9.24%
229.92
-16.99%
276.99
-34.24%
421.20
Cash Flow From Continuing Operating Activities
251.16
+9.24%
229.92
-16.99%
276.99
-34.24%
421.20
Net Income From Continuing Operations
205.12
+6.79%
192.08
-19.80%
239.50
-9.22%
263.81
Depreciation Amortization Depletion
42.14
+3.06%
40.89
+13.26%
36.10
-6.95%
38.80
Depreciation And Amortization
42.14
+3.06%
40.89
+13.26%
36.10
-6.95%
38.80
Other Non Cash Items
-40.70
-64.01%
-24.82
+12.10%
-28.23
+18.78%
-34.76
Stock Based Compensation
8.98
+37.74%
6.52
+2.29%
6.38
+42.85%
4.46
Deferred Tax
-3.28
+69.03%
-10.60
-487.14%
2.74
+318.34%
-1.25
Deferred Income Tax
-3.28
+69.03%
-10.60
-487.14%
2.74
+318.34%
-1.25
Operating Gains Losses
-0.21
+22.01%
-0.27
+74.79%
-1.06
-155.98%
1.90
Gain Loss On Investment Securities
-0.34
+19.86%
-0.42
+64.15%
-1.18
-138.55%
3.06
Gain Loss On Sale Of PPE
0.13
-16.13%
0.15
+32.48%
0.12
+110.07%
-1.16
Change In Working Capital
-26.36
-160.08%
-10.14
-504.41%
-1.68
-101.18%
141.74
Change In Other Working Capital
-0.47
-164.02%
0.74
+167.52%
-1.10
-554.17%
-0.17
Change In Other Current Assets
72.16
+565.62%
-15.50
-165.94%
23.50
-63.99%
65.26
Change In Other Current Liabilities
-70.12
-1364.98%
5.54
+126.89%
-20.61
-137.33%
55.22
Investing Cash Flow
5.05
+115.30%
-33.01
+84.40%
-211.65
+78.85%
-1,000.47
Cash Flow From Continuing Investing Activities
5.05
+115.30%
-33.01
+84.40%
-211.65
+78.85%
-1,000.47
Net PPE Purchase And Sale
-11.84
+41.80%
-20.34
-29.32%
-15.73
+16.00%
-18.73
Purchase Of PPE
-12.13
+40.62%
-20.43
-28.98%
-15.84
+28.22%
-22.07
Sale Of PPE
0.29
+220.65%
0.09
-18.58%
0.11
-96.62%
3.34
Capital Expenditure
-12.13
+40.62%
-20.43
-28.98%
-15.84
+28.22%
-22.07
Net Investment Purchase And Sale
24.40
-88.38%
210.05
-2.66%
215.79
+132.92%
-655.48
Purchase Of Investment
-465.87
-184.95%
-163.49
-413.88%
-31.82
+96.69%
-962.15
Sale Of Investment
490.27
+31.25%
373.54
+50.86%
247.60
-19.26%
306.67
Net Business Purchase And Sale
97.76
0.00
0.00
0.00
Net Other Investing Changes
20.45
+48.24%
13.80
+141.85%
-32.97
-458.92%
9.19
Financing Cash Flow
295.80
+246.91%
-201.35
-3.82%
-193.95
+85.18%
-1,308.48
Cash Flow From Continuing Financing Activities
295.80
+246.91%
-201.35
-3.82%
-193.95
+85.18%
-1,308.48
Net Issuance Payments Of Debt
1.41
+100.27%
-517.00
-146.79%
1,105.00
+2928.76%
-39.06
Issuance Of Debt
345.78
0.00
-100.00%
1,105.00
—
Repayment Of Debt
-344.37
+33.39%
-517.00
0.00
+100.00%
-39.06
Long Term Debt Issuance
295.84
0.00
0.00
—
Long Term Debt Payments
-60.00
-20.00%
-50.00
0.00
+100.00%
-14.06
Net Long Term Debt Issuance
235.84
+571.69%
-50.00
0.00
+100.00%
-14.06
Short Term Debt Issuance
49.94
0.00
-100.00%
1,105.00
—
Short Term Debt Payments
-284.37
+39.11%
-467.00
0.00
+100.00%
-25.00
Net Short Term Debt Issuance
-234.44
+49.80%
-467.00
-142.26%
1,105.00
+4520.00%
-25.00
Common Stock Dividend Paid
-103.90
-8.01%
-96.20
+1.84%
-98.01
-4.56%
-93.73
Cash Dividends Paid
-103.90
-8.01%
-96.20
+1.84%
-98.01
-4.56%
-93.73
Proceeds From Stock Option Exercised
-59.76
-109.92%
-28.47
+84.80%
-187.31
-35.08%
-138.67
Changes In Cash
552.01
+12532.70%
-4.44
+96.55%
-128.60
+93.19%
-1,887.75
Beginning Cash Position
219.89
-1.98%
224.33
-36.44%
352.93
-84.25%
2,240.68
End Cash Position
771.90
+251.04%
219.89
-1.98%
224.33
-36.44%
352.93
Free Cash Flow
239.03
+14.10%
209.49
-19.78%
261.15
-34.57%
399.13
Interest Paid Supplemental Data
307.26
+5.34%
291.69
+59.34%
183.07
+592.81%
26.42
Income Tax Paid Supplemental Data
34.78
-31.90%
51.08
+16.87%
43.71
-1.28%
44.27
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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