INDB
Independent Bank Corp. Financial Services - Banks - Regional Investor Relations →
Independent Bank Corp. (INDB) closed at $81.05 as of 2026-06-19, trading 32.4% above its 200-week moving average of $61.24. The stock is currently moving closer to the line, down from 36.1% last week. The 14-week RSI sits at 66, indicating neutral momentum.
Over the past 14 weeks, down-weeks have had more trading volume than up-weeks (0.66 buyers-vs-sellers ratio). That means when people are active, they're more often selling than buying. Sellers are still more in control than buyers.
Over the past 2044 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 +14.3%.
With a market cap of $3.9 billion, INDB is a mid-cap stock. Return on equity stands at 7.3%. The stock trades at 1.1x book value.
Share count has increased 7.7% over three years, indicating dilution.
Over the past 33.5 years, a hypothetical investment of $100 in INDB would have grown to $4876, compared to $3097 for the S&P 500. That represents an annualized return of 12.3% vs 10.8% for the index — confirming INDB as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
Free cash flow has been declining at a -15.7% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
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 +16.3% after 12 months (median +19.0%), compared to +5.0% for the S&P 500 over the same periods. 77% 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.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices INDB would reach each dislocation threshold.
Dislocation Price Levels
Prices where INDB's Bean Score would hit each σ threshold. Valid until next earnings report (date TBD — last report: 2026-03-31).
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $74.97 | Unusually cheap — potential buy zone |
| Value | +1σ | $77.18 | Cheap vs. own history |
| Fair Value | +0σ | $79.52 | Historical mean behavior |
| Expensive | -1σ | $82.01 | Expensive vs. own history |
| Deep Expensive | -2σ | $84.66 | Unusually expensive — potential trim zone |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are reference points for identifying potential swing trade opportunities, not buy/sell signals. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from INDB's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. They are starting points for research, not buy or sell signals. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
INDB has crossed below its 200-week MA 29 times with an average 1-year return of +14.3% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Apr 1987 | Jun 1987 | 8 | 13.3% | -8.9% | +1343.0% |
| Jul 1987 | Mar 1993 | 296 | 87.8% | -15.4% | +1259.3% |
| Apr 1993 | Jul 1993 | 12 | 13.9% | +37.5% | +4624.0% |
| Oct 1999 | Oct 1999 | 1 | 3.0% | -4.0% | +1258.6% |
| Dec 1999 | Aug 2000 | 36 | 25.3% | -6.6% | +1185.7% |
| Sep 2000 | Jan 2001 | 15 | 21.5% | +28.1% | +1158.2% |
| Jan 2001 | Jan 2001 | 1 | 2.7% | +75.7% | +1114.5% |
| Mar 2001 | Mar 2001 | 1 | 1.4% | +84.1% | +1080.4% |
| May 2007 | May 2007 | 2 | 1.2% | +3.7% | +378.2% |
| Jul 2007 | Aug 2007 | 4 | 9.0% | -9.7% | +385.3% |
| Sep 2007 | Sep 2007 | 2 | 2.8% | +1.3% | +375.4% |
| Oct 2007 | Mar 2008 | 22 | 14.5% | -9.9% | +368.1% |
| Apr 2008 | Sep 2008 | 20 | 20.8% | -29.1% | +364.6% |
| Sep 2008 | Mar 2010 | 74 | 58.6% | -23.8% | +366.7% |
| Mar 2010 | Apr 2010 | 3 | 3.0% | +7.8% | +412.0% |
| May 2010 | Jun 2010 | 6 | 6.7% | +25.2% | +427.1% |
| Jun 2010 | Nov 2010 | 18 | 12.2% | +13.5% | +421.6% |
| Aug 2011 | Oct 2011 | 9 | 8.3% | +35.5% | +443.1% |
| Nov 2011 | Nov 2011 | 1 | 1.4% | +27.9% | +434.4% |
| Feb 2020 | Apr 2020 | 6 | 15.6% | +30.4% | +47.2% |
| Apr 2020 | May 2020 | 5 | 18.6% | +25.1% | +47.5% |
| Jun 2020 | Nov 2020 | 23 | 28.3% | +24.3% | +50.0% |
| Jul 2021 | Aug 2021 | 3 | 3.0% | +14.1% | +34.0% |
| Sep 2021 | Sep 2021 | 2 | 1.0% | +13.5% | +34.5% |
| Mar 2023 | Nov 2024 | 87 | 37.1% | -23.5% | +30.1% |
| Dec 2024 | Jan 2025 | 2 | 5.8% | +18.7% | +33.6% |
| Mar 2025 | Jun 2025 | 13 | 14.7% | +26.7% | +34.2% |
| Jun 2025 | Jun 2025 | 1 | 2.6% | +37.4% | +37.4% |
| Jul 2025 | Aug 2025 | 1 | 0.1% | N/A | +33.9% |
| Average | 23 | — | +14.3% | — |
Frequently Asked Questions
Is INDB below its 200-week moving average?
No. Independent Bank Corp. (INDB) is currently 32.4% above its 200-week moving average of $61.24. It would need to fall to $61.24 to cross below the line.
What is INDB's 200-week moving average price?
Independent Bank Corp.'s 200-week moving average is $61.24 as of 2026-06-19. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when INDB drops below its 200-week moving average?
INDB has crossed below its 200-week moving average 29 times in our data. On average, buying at that moment produced a one-year return of +14.3%. These dips have historically been decent entry points. These episodes lasted 23 weeks on average.
Is INDB a good value right now?
Here's what our data says about INDB as of 2026-06-19: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 66. Return on equity is 7.3%. Price-to-book is 1.1x. This is not a buy or sell recommendation — always do your own research.
How does INDB compare to the S&P 500?
Over the past 33.5 years, $100 invested in INDB would have grown to $4876, compared to $3097 for the S&P 500. That's 12.3% annualized vs 10.8% for the index. INDB has outperformed the broader market over this period.
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 week of 2026-06-19