Is Independent Bank Corp (INDB) overvalued or fairly valued?

MarketChacha shows Independent Bank Corp's valuation in context — a trailing P/E of about 16.1, a forward P/E of about 10.0, a price-to-book of about 1.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Independent Bank Corp's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.19×) from reported figures — education, not a rating.

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

Independent Bank Corp last traded at $83.90 (+1.2% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Independent Bank Corp

INDB · NYSE · Financials · United States

Snapshot

TickerINDB

ExchangeNYSE

SectorFinancials

IndustryBanks - Regional

CountryUnited States

Employees2,294

HeadquartersRockland, United States

Websitewww.rocklandtrust.com

Filings tracked25

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.

Who owns it

Insiders1.6%
Institutions88.3%
Public & other10.0%

466 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.14.73%
Vanguard Portfolio Management LLC6.91%
State Street Corporation5.59%
Dimensional Fund Advisors LP5.56%
Vanguard Capital Management LLC4.58%
Geode Capital Management, LLC3.04%
Rockland Trust Company3.01%
Alliancebernstein L.P.2.49%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Latest ROE of 5.8% is on the low side — the business earns a modest return on shareholder capital.

Cash conversion1.19×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Return on equity5.8%

Latest ROE of 5.8% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $265.3M · EPS 1.94

Est. earnings growth +13.7%

Next fiscal year

Rev $1.1B · EPS 8.31

Est. earnings growth +15.9%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

ROE

5.8%

Profit CAGR (2y)

-7.5%

EPS (FY2025)

4.44

Net profit (FY2025)

$205.1M

Ask MarketChacha about INDB

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Net profit	EPS	ROE
FY2025	$205.1M	4.44	5.8%
FY2024	$192.1M	4.52	6.4%
FY2023	$239.5M	5.42	8.3%

Quarterly

Period	Net profit	EPS
2026Q2	$81.8M	1.70
2026Q1	$79.9M	1.63
2025Q3	$34.3M	0.69
2025Q2	$51.1M	1.20
2025Q1	$44.4M	1.04
2024Q3	$42.9M	1.01
2024Q2	$51.3M	1.21
2024Q1	$47.8M	1.12
2023Q3	$60.8M	1.38
2023Q2	$62.6M	1.42
2023Q1	$61.2M	1.36

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q — 10-Q Q2 2026
SEC8/6/2026
8-K — Reg FD disclosure, Exhibits
SEC7/27/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC7/16/2026material
8-K — Other events, Exhibits
SEC6/18/2026material
8-K — Reg FD disclosure, Exhibits
SEC6/16/2026material
8-K — Shareholder vote results
SEC5/14/2026material
10-Q — 10-Q - Q1 2026
SEC5/6/2026
8-K — Other events, Exhibits
SEC5/1/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC4/16/2026material
8-K — Executive/director change, Exhibits
SEC4/13/2026material
8-K — Other events, Exhibits
SEC3/19/2026material
8-K — Executive/director change, Exhibits
SEC3/13/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/9/2026material
8-K — Other events, Exhibits
SEC3/4/2026material
10-K — 10-K 2025
SEC2/27/2026
8-K — Reg FD disclosure, Exhibits
SEC2/11/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC1/22/2026material

2025

8-K — Reg FD disclosure, Exhibits
SEC12/15/2025material
8-K — Other events, Exhibits
SEC12/10/2025material
10-Q — 10-Q - Q3 2025
SEC11/5/2025
8-K — Reg FD disclosure, Exhibits
SEC11/3/2025material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC10/16/2025material
8-K — Other events, Exhibits
SEC9/18/2025material
8-K/A — Exhibits
SEC9/10/2025
8-K — Reg FD disclosure, Exhibits
SEC9/2/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.