Independent Bank Corp. is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named to The Boston Globe's 'Top Places to Work' 2020 list, an honor earned for the 12th consecutive year. In 2020, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World's Best Banks list. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust's sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. Rockland Trust is deeply committed to the communities it serves, as reflected in the overall 'Outstanding' rating received in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through approximately 100 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the South Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
Company profile
Ticker
INDB, IBCP
Exchange
Website
CEO
William B. Kessel
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
INDEPENDENT BANK CORP /MA/
SEC CIK
Corporate docs
Subsidiaries
Rockland Trust Company • Blue Hills Funding Corporation ...
IRS number
42870273
INDB stock data
Analyst ratings and price targets
Latest filings (excl ownership)
S-8
Registration of securities for employees
25 May 23
8-K
Departure of Directors or Certain Officers
18 May 23
10-Q
2023 Q3
Quarterly report
4 May 23
8-K
Independent Bank Corp. Reports First Quarter Net Income of $61.2 Million
20 Apr 23
DEFA14A
Additional proxy soliciting materials
5 Apr 23
DEF 14A
Definitive proxy
30 Mar 23
8-K
Departure of Directors or Certain Officers
20 Mar 23
8-K
Other Events
16 Mar 23
8-K
Departure of Directors or Certain Officers
1 Mar 23
10-K
2022 FY
Annual report
28 Feb 23
Transcripts
INDB
Earnings call transcript
2023 Q1
21 Apr 23
INDB
Earnings call transcript
2022 Q3
21 Oct 22
INDB
Earnings call transcript
2022 Q2
22 Jul 22
INDB
Earnings call transcript
2022 Q1
22 Apr 22
INDB
Earnings call transcript
2021 Q4
21 Jan 22
INDB
Earnings call transcript
2022 Q4
20 Jan 22
INDB
Earnings call transcript
2021 Q3
22 Oct 21
INDB
Earnings call transcript
2021 Q2
23 Jul 21
INDB
Earnings call transcript
2021 Q1
23 Apr 21
INDB
Earnings call transcript
2020 Q4
22 Jan 21
Latest ownership filings
Financial summary
| Quarter (USD) | Mar 23 | Dec 22 | Sep 22 | Jun 22 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 502.54 mm | 502.54 mm | 502.54 mm | 502.54 mm | 502.54 mm | 502.54 mm |
| Cash burn (monthly) | (no burn) | 36.15 mm | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | n/a | 71.15 mm | n/a | n/a | n/a | n/a |
| Cash remaining | n/a | 431.40 mm | n/a | n/a | n/a | n/a |
| Runway (months of cash) | n/a | 11.9 | n/a | n/a | n/a | n/a |
Institutional ownership, Q1 2023
80.2% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 258 |
| Opened positions | 31 |
| Closed positions | 41 |
| Increased positions | 83 |
| Reduced positions | 92 |
| 13F shares | Current |
|---|---|
| Total value | 2.31 tn |
| Total shares | 35.40 mm |
| Total puts | 1.40 k |
| Total calls | 2.20 k |
| Total put/call ratio | 0.6 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 6.71 mm | $440.06 bn |
| Vanguard | 5.55 mm | $364.15 bn |
| STT State Street | 2.22 mm | $146.65 bn |
| Victory Capital Management | 1.81 mm | $118.82 bn |
| Dimensional Fund Advisors | 1.62 mm | $106.03 bn |
| Silvercrest Asset Management | 1.42 mm | $93.38 bn |
| Geode Capital Management | 913.34 k | $59.93 bn |
| MS Morgan Stanley | 821.24 k | $53.89 bn |
| MCQEF Macquarie | 815.05 k | $53.48 bn |
| T. Rowe Price Investment Management | 805.14 k | $52.83 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 23 May 23 | Miskell Eileen C | Common Stock | Grant | Acquire A | No | No | 0 | 1,241 | 0.00 | 14,130.909 |
| 23 May 23 | Abelli Donna L | Common Stock | Grant | Acquire A | No | No | 0 | 1,241 | 0.00 | 12,161.573 |
| 23 May 23 | Smith Scott | Common Stock | Grant | Acquire A | No | No | 0 | 1,241 | 0.00 | 3,936 |
| 23 May 23 | James O'shanna Morton | Common Stock | Grant | Acquire A | No | No | 0 | 1,241 | 0.00 | 2,517.281 |
| 23 May 23 | Hogan Michael P. | Common Stock | Grant | Acquire A | No | No | 0 | 1,241 | 0.00 | 4,894 |
News
Stocks That Hit 52-Week Lows On Friday
12 May 23
Stocks That Hit 52-Week Lows On Thursday
11 May 23
Keefe, Bruyette & Woods Maintains Market Perform on Independent Bank, Lowers Price Target to $68
25 Apr 23
Stocks That Hit 52-Week Lows On Friday
21 Apr 23
Recap: Independent Bank Q1 Earnings
20 Apr 23