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Independent Bank Corp. (INDB) Stock Analysis

Range Bound setup

Buy WaitModerate Confidence

Financial Services · Banks - Regional

Wait for pullback to $73.82. At $77.75 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $73.82 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Massachusetts and New England; Concentration risk — Loan Portfolio: commercial loans (77.2%).

Independent Bank Corp. is the holding company for Rockland Trust, a Massachusetts trust company with over 150 retail branches primarily serving Eastern Massachusetts, Worcester County, southern New Hampshire, and Rhode Island. At December 31, 2025, total assets were $24.9B and... Read more

$77.75+6.8% A.UpsideScore 6.5/10#10 of 142 Banks - Regional
QualityF-score8 / 9FCF yield—
IncomeYield3.30%(5y avg 3.25%)Payout47.91%sustainable
Entry $73.82(Default 5pct Sticky)Stop $70.95Target $78.80(analyst − 13%)A.R:R 0.3:1Setup A.R:R 1.7:1
Analyst target$90.57+16.5%7 analysts
$78.80our TP
$77.75price
$90.57mean
$97

Wait for pullback to $73.82. At $77.75 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $73.82 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Massachusetts and New England; Concentration risk — Loan Portfolio: commercial loans (77.2%). Chart setup: RSI 48 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Score 6.5/10, moderate confidence.

Passes 6/8 gates (clean insider activity, no SEC red flags, news events none recent, earnings proximity 64d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.

Val7.9Qual5.3Grw10.0Mom3.7Sent7.5Ins5.0Peer4.7Tech5.7Risk5.96.5OVERALL

Recent Developments — Independent Bank Corp.

Latest news

Generated 2026-05-20T21:06:21Z.

Thesis

Rewards
Sector modifier (Financial Services): +1.0
Strong earnings beat streak (3/4)
Positive news sentiment (+0.67)
Risks
Concentration risk — Geographic: Massachusetts and New England
Concentration risk — Loan Portfolio: commercial loans (77.2%)
Analyst target reached - limited upside remaining

Key Metrics

P/E (TTM)15.4
P/E (Fwd)9.3
Mkt Cap$3.7B
EV/EBITDA—
Profit Mgn27.5%
ROE7.3%
Rev Growth51.6%
Beta0.80
Dividend3.30%
Rating analysts12

Quality Signals

Piotroski F8/9

Options Flow

P/C3.00bearish
IV40%normal

Concentration Risks(10-K Item 1A)

  • HIGHGeographicMassachusetts and New England
    10-K Item 1A: 'Substantially all of the loans the Company originates are secured by properties located in, or are made to businesses that operate in, Massachusetts and the broader New England area'
  • HIGHloan_portfoliocommercial loans77%
    10-K Item 1A: 'At December 31, 2025, 77.2% of the Company's loan portfolio consisted of commercial loans'

Material Events(8-K, last 90d)

  • 2026-04-13Item 5.02LOW
    Mary L. Lentz retired from the Board effective April 11, 2026 upon reaching age 72, in accordance with Company governance policies requiring retirement at 72. No disagreement cited.
    SEC filing →
  • 2026-03-13Item 5.02LOW
    Scott Smith, director since April 2019, notified the Company on March 10, 2026 that he will not stand for re-election at the May 14, 2026 annual meeting. Decision not due to any disagreement.
    SEC filing →

Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. Full disclaimer

Rating Breakdown

1 floor-breaker·1 ceiling hit

Momentum below the gate floor. Component breakdown shows what dragged the score down.static

Volume
0.0
Obv
1.0
Macd
3.2
Rsi
5.5
Ma Position
9.0
Volume distribution (falling OBV)Above 200-day MA
GatesMomentum 3.7<4.5A.R:R 0.3 < 1.5@spotInsider activity: OKNo SEC red flagsNEWS EVENTS NONE RECENTEARNINGS PROXIMITY 64d clearSEMI CYCLE PEAK CLEARMATERIALS CYCLE PEAK CLEARRange BoundSuitability: Aggressive
RSI
48 · Neutral
↑ 20D MA↑ 50D MA↑ 200D MAGOLDEN CROSSSupport $75.39Resistance $79.45

Price Targets

$71
$74
$79
A.Upside+1.4%
A.R:R0.3:1
Setup A.R:R (at entry)1.7:1

Position Sizing

ConvictionMedium conviction
Suggested %0.5%
Max %1%
RegimeRisk-Off

Risk Alerts

! Target reached (1.5% upside)
! NEWS_MOD=+2: HOLD_IF_HOLDING → STRONG_BUY_WAIT
! Momentum score 3.7/10 — below 4.5 minimum

Earnings

B
B
B
M
3/4 beats
Next Earnings2026-07-23 (64d)

Verdict History

reverse chrono — latest first
Loading history...
Verdicts are recorded on every nightly pipeline run. Rows capture transitions (verdict flips, score deltas ≥0.3, entry/TP/SL changes). Rows with a ▶ can be expanded to see the change reason. Aggregate cohort performance is tracked in the recommendation ledger.
Frequently Asked Questions
Is INDB stock a buy right now?

Wait for pullback to $73.82. At $77.75 the A.R:R is 0.3:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $73.82 (Default 5pct Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Geographic: Massachusetts and New England; Concentration risk — Loan Portfolio: commercial loans (77.2%). Chart setup: RSI 48 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Target $78.80 (+1.4%), stop $70.95 (−9.6%), Setup A.R:R 1.7:1. Score 6.5/10, moderate confidence.

What is the INDB stock price target?

Take-profit target: $78.80 (+6.8% upside). Target $78.80 (+1.4%), stop $70.95 (−9.6%), Setup A.R:R 1.7:1. Stop-loss: $70.95.

What are the risks of investing in INDB?

Concentration risk — Geographic: Massachusetts and New England; Concentration risk — Loan Portfolio: commercial loans (77.2%); Analyst target reached - limited upside remaining.

Is INDB overvalued or undervalued?

Independent Bank Corp. trades at a P/E of 15.4 (forward 9.3). TrendMatrix value score: 7.9/10. Verdict: Buy (Wait for Entry).

What do analysts say about INDB?

12 analysts cover INDB with a consensus score of 4.0/5. Average price target: $91.

What does Independent Bank Corp. do?Independent Bank Corp. is the holding company for Rockland Trust, a Massachusetts trust company with over 150 retail...

Independent Bank Corp. is the holding company for Rockland Trust, a Massachusetts trust company with over 150 retail branches primarily serving Eastern Massachusetts, Worcester County, southern New Hampshire, and Rhode Island. At December 31, 2025, total assets were $24.9B and total deposits $20.1B; commercial loans comprised 77.2% of the loan portfolio. The bank completed the acquisition of Enterprise Bancorp on July 1, 2025.

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