Independent Bank Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:INDB Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
11 Feb 25	SellUS$44,819	Donna Abelli	Individual		640	US$70.03
03 Jun 24	SellUS$56,946	Eileen Miskell	Individual		1,134	US$50.22

Insider Trading Volume

Insider Buying: INDB insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of INDB?
Owner Type	Number of Shares	Ownership Percentage
State or Government	19,562	0.0459%
Private Companies	100,000	0.235%
Individual Insiders	385,700	0.905%
General Public	5,958,935	14%
Institutions	36,141,099	84.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 64.37% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
14.6%	BlackRock, Inc.	6,234,285	US$338.6m	0.56%	0.01%
11.8%	The Vanguard Group, Inc.	5,018,083	US$272.5m	-0.25%	no data
6.04%	State Street Global Advisors, Inc.	2,573,861	US$139.8m	12.5%	0.01%
5.44%	Dimensional Fund Advisors LP	2,318,650	US$125.9m	1.59%	0.02%
2.38%	Geode Capital Management, LLC	1,012,847	US$55.0m	-0.45%	no data
2.26%	Macquarie Investment Management Business Trust	961,600	US$52.2m	-0.34%	0.07%
2.23%	DePrince, Race & Zollo, Inc.	948,244	US$51.5m	687%	1.17%
2.12%	Victory Capital Management Inc.	902,090	US$49.0m	-13.2%	0.05%
1.49%	Silvercrest Asset Management Group LLC	635,569	US$34.5m	-7.3%	0.26%
1.42%	Boston Trust Walden Company	606,743	US$33.0m	-2.03%	0.25%
1.42%	The Rockland Trust Investment Management Group	605,183	US$32.9m	-6.01%	1.73%
1.28%	Charles Schwab Investment Management, Inc.	544,948	US$29.6m	0%	0.01%
1.2%	Verition Fund Management LLC	510,659	US$27.7m	286%	0.16%
1.14%	Northern Trust Global Investments	486,766	US$26.4m	-15.7%	no data
1.1%	American Century Investment Management Inc	469,359	US$25.5m	10.9%	0.01%
1.05%	Norges Bank Investment Management	448,829	US$24.4m	18.5%	no data
0.99%	BNY Asset Management	420,416	US$22.8m	-2.17%	no data
0.97%	Invesco Capital Management LLC	414,282	US$22.5m	9.67%	0.01%
0.86%	BNPP Asset Management Holding	368,052	US$20.0m	29.8%	0.04%
0.84%	GW&K Investment Management, LLC	356,434	US$19.4m	-2.49%	0.18%
0.79%	Eaton Vance Management	335,226	US$18.2m	-5.84%	no data
0.78%	Barrow, Hanley, Mewhinney & Strauss, LLC	330,481	US$17.9m	9.31%	0.06%
0.76%	Goldman Sachs Group, Investment Banking and Securities Investments	323,205	US$17.6m	27.5%	0.01%
0.71%	ClearBridge Investments, LLC	303,338	US$16.5m	-0.31%	0.01%
0.69%	Bridgeway Capital Management, LLC	293,924	US$16.0m	4.2%	0.31%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/04/15 05:35
End of Day Share Price	2025/04/15 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Independent Bank Corp. is covered by 14 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Bryce Rowe	Baird
David Bishop	D.A. Davidson & Co.
Barry Sine	Drexel Hamilton