Independent Bank Corp. logo

Independent Bank Corp.

INDB

NASDAQFinancial ServicesBanks - Regional

Previous close

$83.73

+$0.22 · +0.26%

Aug 21, 4:00 PM ET

INDB company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

76

Undervalued

Momentum

52

Neutral

Sentiment

71

Bullish

Risk resilience

79

Moderate Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Independent Bank Corp. functions as the parent company for Rockland Trust Company, delivering a wide array of commercial banking products and services. Its clientele primarily consists of private individuals and small to mid-sized businesses, largely within Massachusetts. The institution offers diverse deposit options, including interest-bearing checking, money market, and savings accounts, in addition to demand deposits and time certificates of deposit. Its extensive lending portfolio covers commercial and industrial loans, commercial real estate and construction financing, small business loans, consumer real estate loans, and personal loans. Beyond core banking, the company provides wealth management and fiduciary services for a broad spectrum of clients, from private individuals and institutions to small businesses and charitable organizations. It also offers digital banking solutions (online and mobile), estate planning, financial advisory, and tax assistance. Customers have access to ATM and debit card services, alongside various investment products such as mutual funds, unit investment trusts, general securities, fixed and variable annuities, and life insurance. As of December 31, 2021, Independent Bank Corp. maintained a substantial physical presence, operating 119 retail branches, two limited-service retail branches, and one mobile branch. These facilities are strategically located across Eastern Massachusetts, encompassing Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties. Established in 1907, the company is headquartered in Rockland, Massachusetts.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
US
CEO
Jeffrey J. Tengel
Listed since
May 14, 1986
Employees
2,294

Market position

Day range

Current $83.73

52-week range

Current $83.73

Open
$83.88
Previous close
$83.51
Volume
331.67K
0.89× average
Average volume
373.21K
Average daily volume
Market cap
4.04B USD
Beta
0.79
Market reference 1
50-day average
$84.1982
-0.56% below average
200-day average
$78.7107
+6.38% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
15.11×
P/B (TTM)
1.15×
P/S (TTM)
3.22×
Dividend yield
2.94%

Profitability & efficiency

Gross margin
70.40%
Operating margin
22.66%
Net margin
21.64%

Financial health

Debt / equity
0.2×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends103%72%41%10%Gross margin, FY2021: 93.81%Gross margin, FY2022: 95.19%Gross margin, FY2023: 76.69%Gross margin, FY2024: 66.40%Gross margin, FY2025: 67.93%Operating margin, FY2021: 30.36%Operating margin, FY2022: 46.38%Operating margin, FY2023: 34.58%Operating margin, FY2024: 25.37%Operating margin, FY2025: 22.87%Net margin, FY2021: 23.45%Net margin, FY2022: 35.18%Net margin, FY2023: 26.28%Net margin, FY2024: 19.72%Net margin, FY2025: 17.57%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 93.81%. Gross margin FY2022 95.19%. Gross margin FY2023 76.69%. Gross margin FY2024 66.40%. Gross margin FY2025 67.93%. Operating margin FY2021 30.36%. Operating margin FY2022 46.38%. Operating margin FY2023 34.58%. Operating margin FY2024 25.37%. Operating margin FY2025 22.87%. Net margin FY2021 23.45%. Net margin FY2022 35.18%. Net margin FY2023 26.28%. Net margin FY2024 19.72%. Net margin FY2025 17.57%.

Income trends

Revenue

1.17B USD+19.82%

Operating income

266.92M USD+8.01%

Net income

205.12M USD+6.79%
Income trends across reported periods1.27B USD853.32M USD434.85M USD16.37M USDRevenue, FY2021: 515.98M USDRevenue, FY2022: 749.84M USDRevenue, FY2023: 911.33M USDRevenue, FY2024: 974.14M USDRevenue, FY2025: 1.17B USDOperating income, FY2021: 156.68M USDOperating income, FY2022: 347.75M USDOperating income, FY2023: 315.13M USDOperating income, FY2024: 247.13M USDOperating income, FY2025: 266.92M USDNet income, FY2021: 120.99M USDNet income, FY2022: 263.81M USDNet income, FY2023: 239.5M USDNet income, FY2024: 192.08M USDNet income, FY2025: 205.12M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 515.98M USD. Revenue FY2022 749.84M USD. Revenue FY2023 911.33M USD. Revenue FY2024 974.14M USD. Revenue FY2025 1.17B USD. Operating income FY2021 156.68M USD. Operating income FY2022 347.75M USD. Operating income FY2023 315.13M USD. Operating income FY2024 247.13M USD. Operating income FY2025 266.92M USD. Net income FY2021 120.99M USD. Net income FY2022 263.81M USD. Net income FY2023 239.5M USD. Net income FY2024 192.08M USD. Net income FY2025 205.12M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.17B USD974.14M USD911.33M USD749.84M USD515.98M USD
Cost of goods sold374.29M USD327.27M USD212.46M USD36.09M USD31.92M USD
Gross profit792.88M USD646.86M USD698.88M USD713.75M USD484.06M USD
Selling, general, and administrative297.74M USD244.55M USD234.09M USD211.66M USD176.57M USD
Operating expenses525.96M USD399.74M USD383.74M USD365.99M USD327.39M USD
Interest income1.02B USD852.75M USD795.73M USD642.84M USD415.28M USD
Interest expense313.57M USD291.02M USD189.21M USD29.59M USD13.72M USD
Depreciation and amortization39.31M USD40.89M USD36.1M USD38.8M USD32.82M USD
Operating income266.92M USD247.13M USD315.13M USD347.75M USD156.68M USD
Net income205.12M USD192.08M USD239.5M USD263.81M USD120.99M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
+0.11%
11 comparable reports
Latest EPS result
1.7
Estimate 1.79 · Miss by 5.03%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.881.581.290.99Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 16, 2025: actual 1.21, estimate 1.16, surprise +4.31%, Beat. Q2 2025, reported Apr 17, 2025: actual 1.06, estimate 1.17, surprise -9.40%, Miss. Q3 2025, reported Jul 17, 2025: actual 1.25, estimate 1.2, surprise +4.17%, Beat. Q4 2025, reported Oct 16, 2025: actual 1.55, estimate 1.54, surprise +0.65%, Beat. Q1 2026, reported Jan 22, 2026: actual 1.7, estimate 1.65, surprise +3.03%, Beat. Q2 2026, reported Apr 16, 2026: actual 1.68, estimate 1.66, surprise +1.20%, Beat. Q3 2026, reported Jul 16, 2026: actual 1.7, estimate 1.79, surprise -5.03%, Miss. Q4 2026, reported Oct 15, 2026: actual —, estimate 1.81, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates273.12M236.92M200.73M164.54MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 16, 2025: actual 176.85M USD, estimate 175.06M USD, surprise +1.02%, Beat. Q2 2025, reported Apr 17, 2025: actual 176.11M USD, estimate 175.04M USD, surprise +0.61%, Beat. Q3 2025, reported Jul 17, 2025: actual 250.52M USD, estimate 242.65M USD, surprise +3.24%, Beat. Q4 2025, reported Oct 16, 2025: actual 243.74M USD, estimate 242.65M USD, surprise +0.45%, Beat. Q1 2026, reported Jan 22, 2026: actual 253.93M USD, estimate 249.64M USD, surprise +1.72%, Beat. Q2 2026, reported Apr 16, 2026: actual 252.72M USD, estimate 250.33M USD, surprise +0.96%, Beat. Q3 2026, reported Jul 16, 2026: actual 253.32M USD, estimate 257.5M USD, surprise -1.62%, Miss. Q4 2026, reported Oct 15, 2026: actual —, estimate 262.61M USD, surprise —, Comparison unavailable.

INDB news

ETFs holding INDB

Funds reporting this stock among their holdings, ordered by reported position size.

Continue in GoAI

Research INDB

research.disclaimer