INDB
Independent Bank Corp. Financial Services - Banks - Regional Investor Relations →
Independent Bank Corp. (INDB) closed at $86.01 as of 2026-02-02, trading 41.0% above its 200-week moving average of $61.01. The stock moved further from the line this week, up from 32.6% last week. With a 14-week RSI of 82, INDB is in overbought territory.
Over the past 2025 weeks of data, INDB has crossed below its 200-week moving average 29 times. On average, these episodes lasted 23 weeks. Historically, investors who bought INDB at the start of these episodes saw an average one-year return of +12.9%.
With a market cap of $4.3 billion, INDB is a mid-cap stock. Return on equity stands at 6.3%. The stock trades at 1.2x book value.
The company has been aggressively buying back shares, reducing its share count by 10.4% over the past three years.
Over the past 33.2 years, a hypothetical investment of $100 in INDB would have grown to $5130, compared to $2849 for the S&P 500. That represents an annualized return of 12.6% vs 10.6% for the index — confirming INDB as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
Free cash flow has been volatile over the past several years, making the quality of earnings harder to assess.
Growth of $100: INDB vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After INDB Crosses Below the Line?
Across 27 historical episodes, buying INDB when it crossed below its 200-week moving average produced an average return of +14.8% after 12 months (median +15.0%), compared to +3.8% for the S&P 500 over the same periods. 75% of those episodes were profitable after one year. After 24 months, the average return was +23.0% vs +4.5% for the index.
Each line shows $100 invested at the moment INDB crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
INDB has crossed below its 200-week MA 29 times with an average 1-year return of +12.9% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Apr 1987 | Jun 1987 | 8 | 13.3% | -8.9% | +1418.0% |
| Jul 1987 | Mar 1993 | 296 | 87.8% | -15.4% | +1329.9% |
| Apr 1993 | Jul 1993 | 12 | 13.9% | +37.5% | +4869.5% |
| Oct 1999 | Oct 1999 | 1 | 3.0% | -4.0% | +1329.3% |
| Dec 1999 | Aug 2000 | 36 | 25.3% | -6.6% | +1252.6% |
| Sep 2000 | Jan 2001 | 15 | 21.5% | +28.1% | +1223.7% |
| Jan 2001 | Jan 2001 | 1 | 2.7% | +75.7% | +1177.6% |
| Mar 2001 | Mar 2001 | 1 | 1.4% | +84.1% | +1141.8% |
| May 2007 | May 2007 | 2 | 1.2% | +3.7% | +403.1% |
| Jul 2007 | Aug 2007 | 4 | 9.0% | -9.7% | +410.5% |
| Sep 2007 | Sep 2007 | 2 | 2.8% | +1.3% | +400.1% |
| Oct 2007 | Mar 2008 | 22 | 14.5% | -9.9% | +392.4% |
| Apr 2008 | Sep 2008 | 20 | 20.8% | -29.1% | +388.7% |
| Sep 2008 | Mar 2010 | 74 | 58.6% | -23.8% | +391.0% |
| Mar 2010 | Apr 2010 | 3 | 3.0% | +7.8% | +438.6% |
| May 2010 | Jun 2010 | 6 | 6.7% | +25.2% | +454.5% |
| Jun 2010 | Nov 2010 | 18 | 12.2% | +13.5% | +448.7% |
| Aug 2011 | Oct 2011 | 9 | 8.3% | +35.5% | +471.3% |
| Nov 2011 | Nov 2011 | 1 | 1.4% | +27.9% | +462.2% |
| Feb 2020 | Apr 2020 | 6 | 15.6% | +30.4% | +54.9% |
| Apr 2020 | May 2020 | 5 | 18.6% | +25.1% | +55.1% |
| Jun 2020 | Nov 2020 | 23 | 28.3% | +24.3% | +57.8% |
| Jul 2021 | Aug 2021 | 3 | 3.0% | +14.1% | +40.9% |
| Sep 2021 | Sep 2021 | 2 | 1.0% | +13.5% | +41.5% |
| Mar 2023 | Nov 2024 | 87 | 37.1% | -23.5% | +36.8% |
| Dec 2024 | Jan 2025 | 2 | 5.8% | +18.7% | +40.6% |
| Mar 2025 | Jun 2025 | 13 | 14.7% | N/A | +41.2% |
| Jun 2025 | Jun 2025 | 1 | 2.6% | N/A | +44.5% |
| Jul 2025 | Aug 2025 | 1 | 0.1% | N/A | +40.9% |
| Average | 23 | — | +12.9% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02