Independent Bank Corp.

NasdaqGS:INDB Stock Report

Market Cap: US$3.4b

Independent Bank (INDB) Stock Overview

Operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. More details

INDB fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance2/6
Financial Health6/6
Dividends4/6

Rewards

Trading at 30.7% below our estimate of its fair value

Earnings are forecast to grow 43.15% per year

Pays a reliable dividend of 3.53%

Risk Analysis

Shareholders have been diluted in the past year


INDB Community Fair Values

Create Narrative

See what others think this stock is worth. Follow their fair value or set your own to get alerts.

INDB logo
Independent Bank
AN
AnalystConsensusTarget
Consensus Narrative from 4 Analysts

Loan Resolution, C&I Focus And FIS Upgrade Will Transform Operations

Key Takeaways Resolution of non-performing loans and strategic C&I lending shift are expected to reduce credit costs and enhance net margins. Acquisition of Enterprise Bancorp and strong deposit growth poised to drive market presence and boost overall earnings through cross-selling opportunities.
View narrative
US$73.41
FV
8.8% undervalued intrinsic discount
27.80%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
3users have followed this narrative
2 days ago author updated this narrative
View Independent Bank Community

Independent Bank Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Independent Bank
Historical stock prices
Current Share PriceUS$66.94
52 Week HighUS$77.23
52 Week LowUS$47.43
Beta0.86
1 Month Change8.05%
3 Month Change20.85%
1 Year Change39.55%
3 Year Change-16.70%
5 Year Change6.66%
Change since IPO378.14%

Recent News & Updates

Independent Bank: No Signs Of A Slowdown, Attractive Yield

Apr 19

Recent updates

Independent Bank: No Signs Of A Slowdown, Attractive Yield

Apr 19

Independent Bank: Another Regional Bank Delivering

Jan 16
author-image

Diversifying Loan Mix And Wealth Management Expansion To Boost Bank's Earnings

Diversifying the loan portfolio and focusing on C&I lending over CRE aims to stabilize earnings and increase revenue.

Independent Bank: Time For A Downgrade After A Monumental Rally

Sep 15

Independent Bank: Just Worth Considering

May 31

Independent Bank (NASDAQ:INDB) Is Increasing Its Dividend To $0.57

Mar 25
Independent Bank (NASDAQ:INDB) Is Increasing Its Dividend To $0.57

Independent Bank: High LTD Ratio Limits Growth Prospects

Jan 21

Independent Bank's (NASDAQ:INDB) Dividend Will Be $0.55

Dec 18
Independent Bank's (NASDAQ:INDB) Dividend Will Be $0.55

Independent Bank (NASDAQ:INDB) Is Paying Out A Larger Dividend Than Last Year

Mar 20
Independent Bank (NASDAQ:INDB) Is Paying Out A Larger Dividend Than Last Year

Independent Bank (NASDAQ:INDB) Has Announced That It Will Be Increasing Its Dividend To $0.55

Dec 13
Independent Bank (NASDAQ:INDB) Has Announced That It Will Be Increasing Its Dividend To $0.55

Independent Bank Non-GAAP EPS of $1.57 beats by $0.15, revenue of $190.8M beats by $5.27M

Oct 20

Independent Bank: Lagged Benefit Of Rising Rates To Lift Earnings

Oct 05

Independent Bank declares $0.51 dividend

Sep 15

Independent Bank Non-GAAP EPS of $1.32 beats by $0.06, revenue of $172.76M beats by $3.83M

Jul 21

Independent Bank Corp.: Higher Average Loan Balance To Drive Earnings

Feb 06

Shareholder Returns

INDBUS BanksUS Market
7D5.2%4.4%1.8%
1Y39.5%32.9%13.7%

Return vs Industry: INDB exceeded the US Banks industry which returned 31.2% over the past year.

Return vs Market: INDB exceeded the US Market which returned 14.3% over the past year.

Price Volatility

Is INDB's price volatile compared to industry and market?
INDB volatility
INDB Average Weekly Movement4.9%
Banks Industry Average Movement4.2%
Market Average Movement7.3%
10% most volatile stocks in US Market17.2%
10% least volatile stocks in US Market3.7%

Stable Share Price: INDB has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: INDB's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19071,837Jeff Tengelwww.rocklandtrust.com

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines.

Independent Bank Corp. Fundamentals Summary

How do Independent Bank's earnings and revenue compare to its market cap?
INDB fundamental statistics
Market capUS$3.35b
Earnings (TTM)US$188.74m
Revenue (TTM)US$654.16m
17.8x
P/E Ratio
1.1x
P/B Ratio

Is INDB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
INDB income statement (TTM)
RevenueUS$654.16m
Cost of RevenueUS$0
Gross ProfitUS$654.16m
Other ExpensesUS$465.42m
EarningsUS$188.74m

Last Reported Earnings

Mar 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)3.77
Gross Margin100.00%
Net Profit Margin28.85%
Debt/Equity Ratio31.0%

How did INDB perform over the long term?

See historical performance and comparison

Dividends

3.5%
Current Dividend Yield
52%
Payout Ratio

Does INDB pay a reliable dividends?

See INDB dividend history and benchmarks
When do you need to buy INDB by to receive an upcoming dividend?
Independent Bank dividend dates
Ex Dividend DateJun 30 2025
Dividend Pay DateJul 07 2025
Days until Ex dividend5 days
Days until Dividend pay date2 days

Does INDB pay a reliable dividends?

See INDB dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/05 07:47
End of Day Share Price 2025/07/03 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

AnalystInstitution
Bryce RoweBaird
David BishopD.A. Davidson & Co.
Barry SineDrexel Hamilton