Independent Bank Corp.
In the published model solve dated 2026-Q2, anchored at $85.68, Independent Bank Corp. (INDB) is priced for 10.7% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Independent Bank Corp is the Massachusetts-based parent of Rockland Trust, a community and commercial bank that just absorbed Enterprise Bancorp in a deal that closed July 1, 2025 [Source: INDB acquisition announcement]. • The key tension is depressed returns versus a recovery the price assumes: trailing return on equity has run in the high single digits, weighed by merger costs and a large acquisition-related credit provision, while the price assumes a return near 10.6%. • Watch the integrati
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320 institutional managers reported holding INDB in 13F filings for the quarter ended 2026-03-31. Together they hold about 84% of the company; the top 10 hold 52%. 34 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 2.1M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (7.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
INDB's share count grew 48.2% over the past five years even with $483.95M spent on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 12 years straight; the current rate is $2.36 a share annually. Cash returned over the past three years: $277.71M in dividends and $224.06M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at INDB over the trailing three years: 2023: 2 buys totaling $126k; 2024: 1 buy totaling $26k. 25 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
INDB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +3.8% | -18.4% |
| 2023-11-03 | -6.0% | +17.6% |
| 2024-02-29 | +5.5% | -1.9% |
| 2024-05-09 | +4.0% | +1.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
INDB's latest 8-K filings: 2026-07-27 (items 7.01, 9.01); 2026-07-16 (items 2.02, 7.01, 9.01); 2026-06-18 (items 8.01, 9.01); 2026-06-16 (items 7.01, 9.01); 2026-05-14 (items 5.07).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.