What is the 13F Pro Quality Score for INDB?

13F Pro ranks INDEPENDENT BANK CORP (INDB) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View INDB's current score at https://13fpro.ai/company/INDB (free sign-up required for the full ranking).

Which hedge funds own the most INDB stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of INDB include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/INDB as soon as new 13F filings post.

Where does 13F Pro source INDB data?

All INDEPENDENT BANK CORP fundamentals and ownership data come directly from SEC EDGAR. INDEPENDENT BANK CORP files with the SEC under CIK 776901. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is INDB in?

INDEPENDENT BANK CORP (INDB) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives INDB's revenue?

Per INDEPENDENT BANK CORP's latest 10-Q filed with the SEC on 2026-08-06, the biggest revenue drivers are: Net interest income ($210.9M, +42.9% YoY (fully tax equivalent basis)); Non-interest income ($42.4M, +23.56% YoY); Investment management and advisory ($15.0M, +31.47% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/INDB.

What are INDB's largest expenses?

INDEPENDENT BANK CORP's latest 10-Q reports these as the largest expense items: Salaries and employee benefits ($79.1M, +25.82% YoY); Interest on deposits ($67.6M, +$7.8M YoY); Occupancy and equipment expenses ($16.2M, +22.89% YoY). Sourced directly from SEC EDGAR filing text for Q2 2026 (quarter ended June 30, 2026).

How often is INDB research updated on 13F Pro?

INDB's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

INDEPENDENT BANK CORP(INDB)Stock Analysis

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13F Pro Quality Score

65.5/100

Rank #480 of 2,960 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

79.2/100

Profitability

86.3/100

Balance Sheet

45.6/100

Earnings Quality

48.4/100

Free Cash Flow

84.3/100

Institutional Flow

48.8/100

Revenue Scale

50.1/100

Dilution Risk

55.8/100

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Why INDB Scores 66/100

exact factor attribution · 2026-09-12

INDB's composite is driven by revenue growth and profitability. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+7.8 pts

79th pct

Profitability

+7.3 pts

86th pct

Free cash flow

+5.1 pts

84th pct

Earnings growth

+0.7 pts

61th pct

Shareholder dilution

+0.4 pts

56th pct

Scale

+0.0 pts

50th pct

Institutional flow

-0.1 pts

49th pct

Earnings quality

-0.2 pts

48th pct

Capital efficiency

-0.6 pts

46th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

INDB Stock Analysis & AI Quality Score

Data updated 2026-09-12

AI stock analysis and institutional research for INDEPENDENT BANK CORP (INDB), a Financials sector company. 13F Pro's AI-powered ranking engine scores INDB at 65.5/100 on a 32-signal composite quality model, placing it at rank #480 of 2,960 stocks — the top 25% of the AI-ranked universe. INDB scores in the top quartile across profitability (86.3), free cash flow (84.3), revenue growth (79.2). Based on the latest XBRL financial filings (Q2 2026), INDEPENDENT BANK CORP reports quarterly revenue of $253.3M, net income of $81.8M, an operating margin of 42.2%. Top institutional holders of INDB by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. INDB trades on the Nasdaq exchange and files with the SEC under CIK 776901. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate INDB daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for INDEPENDENT BANK CORP directly from SEC EDGAR. INDEPENDENT BANK CORP's 13F Pro composite quality score has ranged between 35 and 68 since 2026, currently 65.5 — an improving long-term trajectory across 9 quarterly and live scoring snapshots.

What's Driving INDB's Business? Latest 10-Q Breakdown

✓ 33/33 datapoints verified

AI-extracted from INDEPENDENT BANK CORP's 10-Q filed 2026-08-06 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Net income rose to $81.8 million ($1.70 diluted) from $51.1 million as the July 2025 Enterprise Bancorp acquisition and a 3.85% net interest margin drove results.

Biggest Revenue Drivers

Net interest income$210.9M+42.9% YoY (fully tax equivalent basis)

Increased average interest-earning assets from the Enterprise acquisition, higher yields aided by purchase accounting accretion, and decreased funding costs.

Non-interest income$42.4M+23.56% YoY

Higher deposit account, interchange and investment management fees, largely on volume attributable to the Enterprise acquisition.

Biggest Revenue Drivers

Total revenue: $289.3M (total interest and dividend inc

Net interest income$210.9M+42.9% YoY (fully tax equivalent basis)

Increased average interest-earning assets from the Enterprise acquisition, higher yields aided by purchase accounting accretion, and decreased funding costs.

Non-interest income$42.4M+23.56% YoY

Higher deposit account, interchange and investment management fees, largely on volume attributable to the Enterprise acquisition.

Within Non-interest income

Investment management and advisory$15.0M+31.47% YoY

Higher asset-based revenue on assets under administration of $9.5 billion, up $2.1 billion or 28.7%, including $1.5 billion acquired from Enterprise.

Deposit account fees$9.4M+31.54% YoY

Increases in overdraft and cash management fees plus increased volume attributable to the Enterprise acquisition.

Largest Expense Items

Salaries and employee benefits$79.1M+25.82% YoY

General salaries up $11.1 million on an expanded employee base from the Enterprise acquisition, plus medical insurance, incentive compensation and payroll taxes.

Interest on deposits$67.6M+$7.8M YoY

Higher interest-bearing deposit balances offset by a lower total cost of deposits of 1.36% versus 1.54%.

Occupancy and equipment expenses$16.2M+22.89% YoY

Expanded branch network, real estate and other fixed assets obtained from the Enterprise acquisition.

Amortization of intangible assets$6.8M+467.34% YoY

Amortization of core deposit intangible, customer list and other intangibles established in the Enterprise acquisition.

Margins: Net interest margin was 3.85%, up 48 basis points from 3.37%, driven by interest-earning assets acquired from Enterprise, higher asset yields and lower funding costs; cost of deposits fell to 1.36% from 1.54%.

Watch Items from the Filing

Non-performing loans rose to $103.6 million, or 0.56% of gross loans, from $83.6 million and 0.45% at December 31, 2025; allowance coverage fell to 189.02%.
Commercial real estate non-accruals grew to $64.5 million from $50.5 million, while CRE and construction balances fell $266.1 million, or 2.8%, including a $77.5 million office reduction.
Held to maturity securities carry $92.8 million of gross unrealized losses, with fair value of $1.12 billion against $1.21 billion amortized cost.
Estimated uninsured deposits were $6.9 billion, up from $6.5 billion, of which $1.1 billion is collateralized.
New $200 million buyback effective April 30, 2026; 964,141 shares repurchased in Q2 for $75.0 million at an average $77.79, with $150.9 million remaining.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$253.3M

Net Income

Q2 2026

$81.8M

Free Cash Flow

Q2 2026

$67.0M

Operating Margin

Q2 2026

42.2%

ROIC

Q2 2026

12.2%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+24.3% YoY

$857.5MFY 2025

FY22 $727.9MFY23 $731.1MFY24 $689.7MFY25 $857.5M

Net Income

+6.8% YoY

$205.1MFY 2025

FY22 $263.8MFY23 $239.5MFY24 $192.1MFY25 $205.1M

EPS (Diluted)

-1.8% YoY

$4.44FY 2025

FY22 $5.69FY23 $5.42FY24 $4.52FY25 $4.44

Total Assets

+28.6% YoY

$24.91BFY 2025

FY22 $19.29BFY23 $19.35BFY24 $19.37BFY25 $24.91B

Total Debt

+471.7% YoY

$359.3MFY 2025

FY22 $112.7MFY23 $112.8MFY24 $62.9MFY25 $359.3M

Op. Cash Flow

+9.2% YoY

$251.2MFY 2025

FY22 $421.2MFY23 $277.0MFY24 $229.9MFY25 $251.2M

Free Cash Flow

+14.1% YoY

$239.0MFY 2025

FY22 $399.1MFY23 $261.1MFY24 $209.5MFY25 $239.0M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$857.5M +24.3%	$689.7M -5.7%	$731.1M +0.4%	$727.9M +43.5%	$507.4M +5.9%	$479.2M
Net Income	$205.1M +6.8%	$192.1M -19.8%	$239.5M -9.2%	$263.8M +118.0%	$121.0M -0.1%	$121.2M
EPS (Diluted)	$4.44 -1.8%	$4.52 -16.6%	$5.42 -4.7%	$5.69 +64.0%	$3.47 -4.7%	$3.64
Total Assets	$24.91B +28.6%	$19.37B +0.1%	$19.35B +0.3%	$19.29B -5.5%	$20.42B +54.7%	$13.20B
Total Debt	$359.3M +471.7%	$62.9M -44.3%	$112.8M +0.1%	$112.7M -11.0%	$126.7M -12.8%	$145.3M
Operating Cash Flow	$251.2M +9.2%	$229.9M -17.0%	$277.0M -34.2%	$421.2M +121.4%	$190.2M +194.3%	$64.6M
Free Cash Flow	$239.0M +14.1%	$209.5M -19.8%	$261.1M -34.6%	$399.1M +141.9%	$165.0M +217.0%	$52.0M

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Available Research

13F Pro tracks comprehensive data for INDEPENDENT BANK CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of INDB

BlackRock, Inc.
$584.3M6,979,611 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$274.0M3,273,358 sh
STATE STREET CORP
$223.2M2,645,824 sh
DIMENSIONAL FUND ADVISORS LP
$220.5M2,633,640 sh
VANGUARD CAPITAL MANAGEMENT LLC
$181.8M2,171,265 sh
GEODE CAPITAL MANAGEMENT, LLC
$120.6M1,440,396 sh
ROCKLAND TRUST CO
$119.5M1,427,951 sh
ALLIANCEBERNSTEIN L.P.
$88.7M1,179,183 sh
Channing Capital Management, LLC
$79.8M953,435 sh
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$76.8M917,172 sh

Fund	Value	Shares
BlackRock, Inc.	$584.3M	6,979,611
VANGUARD PORTFOLIO MANAGEMENT LLC	$274.0M	3,273,358
STATE STREET CORP	$223.2M	2,645,824
DIMENSIONAL FUND ADVISORS LP	$220.5M	2,633,640
VANGUARD CAPITAL MANAGEMENT LLC	$181.8M	2,171,265
GEODE CAPITAL MANAGEMENT, LLC	$120.6M	1,440,396
ROCKLAND TRUST CO	$119.5M	1,427,951
ALLIANCEBERNSTEIN L.P.	$88.7M	1,179,183
Channing Capital Management, LLC	$79.8M	953,435
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$76.8M	917,172

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Is INDB a good stock to buy?

13F Pro's AI-powered analysis of INDEPENDENT BANK CORP (INDB) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for INDB are available on the INDB stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. INDB is classified as a mid company.

Which hedge funds own INDB?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling INDB. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of INDEPENDENT BANK CORP's investment landscape.