Independent Bank Corp.(INDB) Stock Research - Grey Stern Research

Independent Bank Corp. (INDB) Stock Analysis

$67.35 (-1.25%)

INDB Financial Performance


Use the table below to view Independent Bank Corp.'s financial profile. This data is gathers from the latest available financial statements. Annual data is taken from the trailing 12 months of statements. All numbers are reported in US Dollars and so any foreign currencies are converted to USD so comparison's can be done.

Based on Financial Statements from Q2 - 2024

Metric Value Ranking among Peers
Price $67.35 -
52 Week Low $45.11 -
52 Week High $77.23 -
Market Cap $2.9 Billion 2/22
Gross Margin 80% 22/22
Profit Margin 28% 3/22
EBITDA margin 70% 3/22
Q2 - 2024 Revenue $155.2 Million 3/22
Q2 - 2024 Earnings $42.9 Million 1/22
Q2 - 2024 Free Cash Flow $0 Million 17/22
Trailing 4 Quarters Revenue $812.2 Million 2/22
Trailing 4 Quarters Earnings $196.9 Million 2/22
Quarterly Earnings Growth -29% 13/22
Annual Earnings Growth -21% 16/22
Quarterly Revenue Growth -15% 22/22
Annual Revenue Growth 11% 21/22
Cash On Hand $199.0 Million 2/22
Short Term Debt $0 6/22
Long Term Debt $663.4 Million 2/22

Independent Bank Corp. Financial Metrics


Financial metrics are a set of useful numbers that can give key performance indicators of a company. The various metrics can include information about profitability, growth, and debt load. When combined and use properly they can tell an analyst a compelling fact-based story of how the company is currently performing. To compare Independent Bank Corp.'s metrics versus it's peers make sure to run our peer analysis tool.

Valuation Metrics

Metric Value Ranking among Peers
PE 14.51 12/22
PS 3.52 2/22
PB 0.96 10/22
PC 14.36 2/22
Liabilities to Equity 5.52 15/22
ROA 0.01 2/22
ROE 0.07 8/22
Current Ratio 1.18 3/22
Quick Ratio 0.01 8/22
Long Term Debt to Equity 0.22 11/22
Debt to Equity 0.22 12/22
Burn Rate -12.12 19/22
Cash to Cap 0.07 9/22
CCR 17/22
EV to EBITDA 30.48 15/22
EV to Revenue 4.09 3/22

Company Details

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. The company accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It also offers commercial and industrial, commercial real estate and construction, small business, consumer real estate, and personal loans. In addition, the company 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 of December 31, 2021, it operates one hundred nineteen retail branches, two limited-service retail branches, and one mobile branch located within Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties in Eastern Massachusetts. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

CEO: Mr. Christopher Oddleifson

Website: https://www.rocklandtrust.com

Address: 288 Union St Rockland, MASSACHUSETTS

Exchange: NASDAQ Global Select

Industry: Banks—Regional

Independent Bank Corp. Peer Analysis


A useful and more reliable way of seeing the health of a company is to compare it to other companies operating in the same sector. Below is our list of companies which we rank are the closest peers to Independent Bank Corp.. If you feel that peers should be added or removed from this list please contact us. To run an in-depth peer analysis which compares many financial metrics click on the link below.

Stock Ticker Market Cap
National Bank Holdings Corporation NBHC $1.7 Billion
Capitol Federal Financial, Inc. CFFN $743.5 Million
Heritage Financial Corporation HFWA $840.2 Million
Berkshire Hills Bancorp, Inc. BHLB $1.3 Billion
First Bancorp FBNC $1.8 Billion
The First Bancshares, Inc. FBMS $1.1 Billion
Sierra Bancorp BSRR $423.2 Million
Western New England Bancorp, Inc. WNEB $187.3 Million
HarborOne Bancorp, Inc. HONE $524.2 Million
BankFinancial Corporation BFIN $155.6 Million
First Financial Northwest, Inc. FFNW $192.6 Million
First Community Corporation FCCO $187.7 Million
Cambridge Bancorp CATC $0
Community West Bancshares CWBC $356.2 Million
First Capital, Inc. FCAP $106.4 Million
HMN Financial, Inc. HMNF $125.0 Million
Business First Bancshares, Inc. BFST $751.5 Million
Richmond Mutual Bancorporation, Inc. RMBI $145.8 Million
Eastern Bankshares, Inc. EBC $3.8 Billion
Northeast Community Bancorp, Inc. NECB $353.3 Million
Finward Bancorp FNWD $115.7 Million
Run Peer Analysis
Income Statement
Balance Sheet
Cash Flow Statement
INDB Income Statements
Quarter Year Revenue Earnings
Q3 2024 $ 155.2 Million $42.9 Million
Q2 2024 $ 211.9 Million $51.3 Million
Q1 2024 $ 237.9 Million $47.8 Million
Q4 2023 $ 207.2 Million $54.8 Million
Q3 2023 $ 183.4 Million $60.8 Million
Q2 2023 $ 183.3 Million $62.6 Million
Q1 2023 $ 187.2 Million $61.2 Million
Q4 2022 $ 200.7 Million $77.0 Million

View All

INDB Balance Sheets
Quarter Year Cash & Equivalents Total Assets Total Debt Total Equity
Q3 2024 $199.0 Million $19.4 Billion $663.4 Million $3.0 Billion
Q2 2024 $192.8 Million $19.4 Billion $0 $2.9 Billion
Q1 2024 $165.3 Million $19.3 Billion $1.0 Billion $2.9 Billion
Q4 2023 $178.9 Million $19.3 Billion $0 $2.9 Billion
Q3 2023 $220.1 Million $19.4 Billion $1.0 Billion $2.9 Billion
Q2 2023 $308.3 Million $19.4 Billion $901.3 Million $2.9 Billion
Q1 2023 $502.5 Million $19.4 Billion $992.4 Million $2.8 Billion
Q4 2022 $352.9 Million $19.3 Billion $113.4 Million $2.9 Billion

View All

INDB Cash Flow Statements
Quarter Year freeCashFlow capitalExpenditure netChangeInCash
Q2 2024 $0 $0 $0
Q1 2024 $0 $0 $0
Q4 2023 $145.1 Million $0 $145.1 Million
Q3 2023 $78.4 Million -$2.9 Million -$88.1 Million
Q2 2023 $88.3 Million -$2.4 Million -$194.3 Million
Q1 2023 $47.2 Million -$4.2 Million $149.6 Million
Q4 2022 $111.3 Million -$4.1 Million -$583.4 Million
Q3 2022 $149.6 Million $0 -$5.5 Million

View All

Cookies

We use cookies to offer a better browsing experience. Cookies enhance site navigation, analyze site usage, and assist in our marketing efforts. By clicking Accept. you agree to the storing of cookies on your device. To refuse all non-required cookies, click on Decline.

Accept View Terms & Conditions