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/research/INDB (free sign-up required for the full ranking).

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.

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

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

INDB Stock Analysis & AI Quality Score

AI stock analysis and institutional research for INDEPENDENT BANK CORP (INDB), a Financials sector company. INDB is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), INDEPENDENT BANK CORP reports quarterly revenue of $252.7M, net income of $79.9M, an operating margin of 41.3%. Top institutional holders of INDB by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, DIMENSIONAL FUND ADVISORS, 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.

Revenue

Q1 2026

$252.7M

Net Income

Q1 2026

$79.9M

Free Cash Flow

Q1 2026

$111.6M

Operating Margin

Q1 2026

41.3%

ROIC

Q1 2026

2.9%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

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

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
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

AI Insight: INDB Financial Trends

Net income surged to $80M in Q1 2026 — the highest in the visible 8-quarter window — while equity held near $3.5B despite a sharp rise in total debt to $359M in Q4 2025.

• Net income accelerated from $34M in Q3 2025 to $75M in Q4 2025 and $80M in Q1 2026, the strongest two-quarter run in the dataset.

• Equity grew steadily from $2,919M in Q2 2024 to $3,566M in Q4 2025, a cumulative gain of ~$647M over six quarters.

• Operating cash flow was highly volatile, ranging from $13M in Q1 2025 to $117M in Q1 2026, making trend interpretation difficult.

⚠ Total debt jumped from $63M in Q4 2024 to $359M in Q4 2025 — a 5x increase in one year — warranting close monitoring of leverage trajectory.

⚠ Equity dipped slightly from $3,566M in Q4 2025 to $3,542M in Q1 2026 — first sequential decline in eight quarters.

AI Insight: INDB Ratio Trends

INDB's ROIC surged to 11.8% in Q1 2026, the highest level in the tracked period, reversing a sharp Q3 2025 trough.

• ROIC rebounded sharply from a trough of 5.0% in Q3 2025 to 11.8% in Q1 2026, the strongest reading in the dataset.

• ROA improved from 0.5% in Q3 2025 to 1.3% in Q1 2026, surpassing all prior quarters shown.

• ROE reached 9.0% in Q1 2026, up from 3.9% in Q3 2025 and above every prior quarter in the table.

⚠ Q3 2025 saw a severe drop — ROE to 3.9%, ROA to 0.5%, ROIC to 5.0% — warranting scrutiny of what drove that one-quarter deterioration.

⚠ D/E rose from 0.02 in Q4 2024 to 0.10 in Q4 2025; trend direction warrants monitoring despite still-low absolute levels.

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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.
$537.2M7,142,325 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$248.6M3,305,113 sh
DIMENSIONAL FUND ADVISORS LP
$193.3M2,569,926 sh
STATE STREET CORP
$189.7M2,501,263 sh
VANGUARD CAPITAL MANAGEMENT LLC
$165.5M2,200,845 sh
ROCKLAND TRUST CO
$110.6M1,470,438 sh
ALLIANCEBERNSTEIN L.P.
$106.4M1,455,842 sh
GEODE CAPITAL MANAGEMENT, LLC
$95.1M1,263,589 sh
DEPRINCE RACE & ZOLLO INC
$77.9M1,036,188 sh
CITADEL ADVISORS LLC
$74.1M985,437 sh

Fund	Value	Shares
BlackRock, Inc.	$537.2M	7,142,325
VANGUARD PORTFOLIO MANAGEMENT LLC	$248.6M	3,305,113
DIMENSIONAL FUND ADVISORS LP	$193.3M	2,569,926
STATE STREET CORP	$189.7M	2,501,263
VANGUARD CAPITAL MANAGEMENT LLC	$165.5M	2,200,845
ROCKLAND TRUST CO	$110.6M	1,470,438
ALLIANCEBERNSTEIN L.P.	$106.4M	1,455,842
GEODE CAPITAL MANAGEMENT, LLC	$95.1M	1,263,589
DEPRINCE RACE & ZOLLO INC	$77.9M	1,036,188
CITADEL ADVISORS LLC	$74.1M	985,437

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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.

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.