Independent Bank Corp. (INDB)
Financials · NMS
Price as at 1 Oct 2026, 19:40 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Independent Bank Corp. trades at $78.51, which is 139% below the $187.31 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 42 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 15.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
INDB dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $1.92 | 3 |
| 2025 | $2.36 | 4 |
| 2024 | $2.28 | 4 |
| 2023 | $2.20 | 4 |
| 2022 | $2.08 | 4 |
| 2021 | $1.92 | 4 |
| 2020 | $1.84 | 4 |
| 2019 | $1.76 | 4 |
| 2018 | $1.52 | 4 |
| 2017 | $1.60 | 5 |
| 2016 | $1.16 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
INDB earnings and analyst estimates
Recommendation mix, 7 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Independent Bank Corp.
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.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
INDB passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$61.43M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$21.11M · 0.0% of book
- Ray Dalio, Bridgewater Associates, LP$16.81M · 0.1% of book
- Ken Fisher, Fisher Asset Management, LLC$8.27M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$6.18M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Politician trades in INDB
Trades in INDB disclosed by members of Congress and executive-branch officials, latest first:
- Gilbert Cisneros · HouseBuy · $1,001 - $15,000 · traded 29 May 2026 · disclosed 8 Jun 2026
A disclosure reports a value band, not an amount, and is due up to 45 days after the trade; some arrive later. Every filer we track, each with their own page, is on the Congress trading tracker.
INDB peers
The largest companies in the same industry (Banks - Regional), then in the same sector.
- HDB HDFC Bank Limited
- IBN ICICI Bank Limited
- CIXPF CaixaBank, S.A.
- ITUB Itaú Unibanco Holding S.A.
- NWG NatWest Group plc
- DB Deutsche Bank Aktiengesellschaft
- NU Nu Holdings Ltd.
- CRARF Crédit Agricole S.A.
Every financials company we cover is on the Financials hub.
Common questions
Is Independent Bank Corp. (INDB) undervalued?
Against our fair value estimate of $187.31, INDB at $78.51 is 139% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own INDB?
10 of the institutions we track reported a position in INDB in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is INDB's P/E ratio?
INDB trades at 15.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Independent Bank Corp. (INDB) pay a dividend?
Yes. Independent Bank Corp. yields 2.90% at the current share price. It has paid $2.51 per share over the trailing twelve months. It has paid a dividend in each of the last 32 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its INDB data?
Fundamentals for INDB come from company filings and exchange data, as listed on NMS; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 19:40 UTC and is delayed. Our data quality score for this company is 88/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for INDB, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.