Independent Bank Corp. (INDB) AI Stock Analysis

Independent Bank Corp. operates as a bank holding company overseeing Rockland Trust Company, providing commercial banking solutions throughout Massachusetts. Founded in 1907 and headquartered in Rockland, Massachusetts, the institution serves individuals and small-to-medium sized businesses. Its core offerings include interest checking, money market, savings, demand deposit, and time certificate accounts. The lending portfolio spans commercial and industrial loans, commercial real estate and construction financing, small business lending, consumer real estate loans, and personal loans. The bank also offers wealth management, trust services, financial planning, tax services, and estate settlement across 119 retail branches, two limited-service branches, and a mobile branch in Eastern Massachusetts.

Revenue grew from $516.0M in FY2021 to $1.17B in FY2025, achieving a 5-year revenue CAGR of 18.1%. Net income increased from $121.0M in FY2021 to $205.1M in FY2025, though net margin dropped from 23.4% to 17.6%. Operating margin contracted from 30.4% in FY2021 to 22.9% in FY2025. Over the trailing twelve months, revenue reached $998.9M with a profit margin of 32.7% and an operating margin of 50.1%. In the latest quarter ending September 30, 2026, quarterly revenue expanded 24.5% year-over-year, and quarterly earnings grew 176.9% year-over-year.

As of September 30, 2026, cash and short-term investments totaled $4.16B, while total debt stood at $627.2M, resulting in net cash of $3.54B. Shareholders' equity was $3.45B and total assets reached $25.01B. The debt-to-equity ratio was 0.18, alongside a current ratio of 0.20. In FY2025, the company generated $251.2M in operating cash flow and $239.5M in free cash flow. Capital deployment included $12.1M for capital expenditures, $62.3M for share buybacks, and $103.9M in dividends paid.

At a last close of $79.88, Independent Bank Corp. carries a market capitalization of $3.78B. The stock trades at a trailing P/E of 11.8x, below the 12.1x median of its US-listed Financial Services peers. Its forward P/E of 9.5x is also below the peer median of 10.8x. Price-to-sales stands at 3.8x compared to the peer median of 3.2x, while price-to-book is 1.1x. Over the past year, the stock returned 28.1%, outperforming the S&P 500 (SPY) return of 16.8%. Over five years, its 17.9% return lagged the S&P 500 (SPY) return of 83.0%.

Independent Bank Corp. pays a quarterly dividend with an annual forward payout of $2.56 per share, yielding 3.20%. The dividend payout ratio is 29.4%. The company has paid dividends for 33 consecutive years, with an annualized 5-year dividend growth rate of 5.1%. The last ex-dividend date was September 28, 2026.

Analyst ratings consist of 4 Strong Buy, 1 Buy, 1 Hold, and 1 Sell. The mean price target of $93.86 stands 17.5% above the last close of $79.88. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $7.21 on revenue of $1.03B. For the subsequent fiscal year, 7 analysts project EPS of $8.31 on revenue of $1.09B. The company beat EPS estimates in 3 of the last 4 quarters.

This page is an AI-written research summary of Independent Bank Corp. (INDB). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: INDB income statement, INDB balance sheet, INDB key metrics, INDB analyst forecast, INDB chart. See the INDB stock overview for the latest quote and news.