Ticker
    INDB

    Price
    49.68
    Stock movement up
    +0.49 (1.00%)
    Company name
    Independent Bank
    Exchange
    (NASDAQ
    ,
    Currency
    USD
    )
    Sector
    Financial Services >
    Banks-Regional
    Market cap
    2.24B
    Ent value
    18.29B
    Price/Sales
    3.09
    Price/Book
    0.78
    Div yield
    4.59%
    Div growth
    7.68%
    Growth years
    10
    FCF payout
    390.73%
    Trailing P/E
    8.49
    Forward P/E
    7.79
    PEG
    3.39
    EPS growth
    12.29%
    1 year return
    -21.98%
    3 year return
    -16.27%
    5 year return
    -10.17%
    10 year return
    2.09%
    Last updated: 2024-04-08
    Independent Bank Corp. (INDB) Q1 2024 Earnings Call Transcript
    April 19, 2024

    iO Charts is a Seeking Alpha partner

    Independent Bank GAAP EPS of $1.12 misses by $0.03, revenue of $167.38M misses by $2.74M
    April 18, 2024

    iO Charts is a Seeking Alpha partner

    DIVIDENDS

    Dividend yield - 5y

    Dividend yield data
    Dividend per share2.28
    Dividend yield4.59%
    Payout frequencyQuarterly
    Maximum yield4.98%
    Average yield2.86%
    Minimum yield1.95%
    Discount to avg yield37.59%
    Upside potential60.24%
    Yield as % of max yield92.08%

    Yield distribution (inverse percentile) - 5y

    Yield distribution data
    Dividend yield4.59%
    Current yield distribution3.25%
    Yield at 100% (Min)1.95%
    Yield at 90%2.26%
    Yield at 80%2.36%
    Yield at 50% (Median)2.57%
    Yield at 20%3.46%
    Yield at 10%4.19%
    Yield at 0% (Max)4.98%

    Dividend per share

    Dividend per share data
    Years of growth10 years
    CCC statusDividend Contender
    Dividend per share2.28
    Payout frequencyQuarterly
    Ex-div date28 Mar 2024
    EPS (TTM)5.78
    EPS (1y forward)6.38
    EPS growth (5y)12.29%
    EPS growth (5y forward)2.50%

    Dividend growth

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    Dividend growth data
    INDBS&P500
    DGR MR3.64%-16.32%
    DGR TTM4.72%4.05%
    DGR 3 years6.14%5.24%
    DGR 5 years7.68%5.40%
    DGR 10 years9.60%7.07%
    DGR 15 years7.73%6.12%
    Time since last change announced33 days
    EPS growth (5y)12.29%
    EPS growth (5y forward)2.50%

    Payout ratio

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    Payout ratio data
    EPS coverageFCF coverage
    TTM44.46%390.73%
    Average--
    Forward35.74%-
    Independent Bank raises quarterly dividend by 4% to $0.57/share
    March 21, 2024

    iO Charts is a Seeking Alpha partner

    Breaking down banks’ exposure to troubled commercial property market
    March 16, 2024

    iO Charts is a Seeking Alpha partner

    VALUATION

    Valuation Ratios

    Valuation Ratios data
    Trailing P/E8.49
    Price to OCF10.96
    Price to FCF74.57
    Price to EBITDA8.69
    EV to EBITDA71.04

    Valuation (Sales/Book Value)

    Valuation (Sales/Book Value) data
    Price to Sales3.09
    Price to Book0.78
    EV to Sales25.26
    Piper Sandler sees smaller banks' wealth management units set to prosper
    March 11, 2024

    iO Charts is a Seeking Alpha partner

    Independent Bank: High LTD Ratio Limits Growth Prospects
    January 21, 2024

    iO Charts is a Seeking Alpha partner

    FINANCIALS

    Per share

    Per share data
    Current share count45.06M
    EPS (TTM)5.78
    FCF per share (TTM)0.66

    Income statement

    Income statement data
    Revenue (TTM)724.29M
    Gross profit (TTM)725.05M
    Operating income (TTM)247.47M
    Net income (TTM)263.81M
    EPS (TTM)5.78
    EPS (1y forward)6.38

    Margins

    Margins data
    Gross margin (TTM)100.11%
    Operating margin (TTM)34.17%
    Profit margin (TTM)36.42%

    Balance Sheet

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    Balance Sheet data
    Cash352.93M
    Net receivables0.00
    Total current assets2.08K
    Goodwill985.07M
    Intangible assets25.07M
    Property, plant and equipment0.00
    Total assets19.29B
    Accounts payable0.00
    Short/Current long term debt113.38M
    Total current liabilities0.00
    Total liabilities16.41B
    Shareholder's equity2.89B
    Net tangible assets0.00

    Cash flow

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    Cash flow data
    Operating cash flow (TTM)204.33M
    Capital expenditures (TTM)18.02M
    Free cash flow (TTM)30.02M
    Dividends paid (TTM)117.30M

    Financial returns

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    Financial returns data
    Return on Equity9.14%
    Return on Assets1.37%
    Return on Invested Capital8.79%
    Cash Return on Invested Capital1.00%
    Independent Bank Corp. (INDB) Q4 2023 Earnings Call Transcript
    January 19, 2024

    iO Charts is a Seeking Alpha partner

    Independent Bank GAAP EPS of $1.26 beats by $0.02, revenue of $177.16M misses by $0.18M
    January 18, 2024

    iO Charts is a Seeking Alpha partner

    STOCK INFORMATION

    Stock chart

    Stock price data
    Open49.33
    Daily high50.20
    Daily low49.33
    Daily Volume120K
    All-time high98.62
    1y analyst estimate85.33
    Beta0.84
    EPS (TTM)5.78
    Dividend per share2.28
    Ex-div date28 Mar 2024
    Next earnings date25 Apr 2024

    Downside potential

    Downside potential data
    INDBS&P500
    Current price drop from All-time high-49.62%-0.85%
    Highest price drop-88.89%-56.47%
    Date of highest drop25 Jul 19919 Mar 2009
    Avg drop from high-23.56%-11.35%
    Avg time to new high42 days13 days
    Max time to new high1649 days1805 days
    Independent Bank declares $0.55 dividend
    December 14, 2023

    iO Charts is a Seeking Alpha partner

    Independent Bank: Slump Continues Despite Q3 Above Expectations
    October 26, 2023

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    COMPANY DETAILS
    INDB (Independent Bank) company logo
    Marketcap
    2.24B
    Marketcap category
    Mid-cap
    Description
    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 primarily in Massachusetts. It accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. The company also offers commercial and industrial, commercial real estate and construction, small business, and consumer real estate. In addition, it provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. The company was founded in 1907 and is headquartered in Hanover, Massachusetts.
    Employees
    1739
    Website
    https://www.rocklandtrust.com
    Investor relations
    SEC filings
    INDB SEC filings
    CEO
    Country
    USA
    City
    Stock type
    Common stock
    CCC status
    Dividend Contender
    Dividend Frequency
    Quarterly
    EVENTS AND PRESENTATIONS
    EventsPresentations
    Independent Bank stock rises after upgrade to Neutral at Seaport
    October 23, 2023

    iO Charts is a Seeking Alpha partner

    Independent Bank Corp. 2023 Q3 - Results - Earnings Call Presentation
    October 20, 2023

    iO Charts is a Seeking Alpha partner

    UNDERSTAND THE BUSINESS
    COMPANY NEWS
    Seeking AlphaPress releases
    Independent Bank Corp. (INDB) Q3 2023 Earnings Conference Call Transcript
    October 20, 2023
    Independent Bank GAAP EPS of $1.38 beats by $0.05, revenue of $183.43M beats by $2.64M
    October 20, 2023
    Independent Bank's Q2: Strong Returns And Emerging Concerns
    July 24, 2023
    Independent Bank Corp. (INDB) Q2 2023 Earnings Call Transcript
    July 21, 2023
    Independent Bank GAAP EPS of $1.42 beats by $0.06, revenue of $183.31M misses by $0.99M
    July 20, 2023
    Independent Bank declares $0.55 dividend
    June 15, 2023
    Independent Bank Corp. (INDB) Q1 2023 Earnings Call Transcript
    April 21, 2023
    Independent Bank Corp. 2023 Q1 - Results - Earnings Call Presentation
    April 21, 2023
    Independent Bank Non-GAAP EPS of $1.36 misses by $0.17, revenue of $179.99M misses by $12.01M
    April 20, 2023
    First Citizens leads financial winners by wide margin after SVB deal: Weekly roundup
    April 1, 2023
    iO Charts is a Seeking Alpha partnerNext page
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