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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 2.26
INDB's Cash to Debt is ranked higher than
52% of the 1639 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.98 vs. INDB: 2.26 )
Ranked among companies with meaningful Cash to Debt only.
INDB' s Cash to Debt Range Over the Past 10 Years
Min: 0.1  Med: 0.23 Max: 2.26
Current: 2.26
0.1
2.26
Equity to Asset 0.11
INDB's Equity to Asset is ranked higher than
58% of the 1660 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. INDB: 0.11 )
Ranked among companies with meaningful Equity to Asset only.
INDB' s Equity to Asset Range Over the Past 10 Years
Min: 0.06  Med: 0.08 Max: 0.11
Current: 0.11
0.06
0.11
Interest Coverage 6.02
INDB's Interest Coverage is ranked higher than
84% of the 1590 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.69 vs. INDB: 6.02 )
Ranked among companies with meaningful Interest Coverage only.
INDB' s Interest Coverage Range Over the Past 10 Years
Min: 0.52  Med: 2.18 Max: 6.02
Current: 6.02
0.52
6.02
F-Score: 4
M-Score: -2.32
WACC vs ROIC
9.23%
11.52%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 37.75
INDB's Operating margin (%) is ranked higher than
66% of the 1678 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.78 vs. INDB: 37.75 )
Ranked among companies with meaningful Operating margin (%) only.
INDB' s Operating margin (%) Range Over the Past 10 Years
Min: -181.89  Med: 25.76 Max: 37.75
Current: 37.75
-181.89
37.75
Net-margin (%) 25.92
INDB's Net-margin (%) is ranked higher than
61% of the 1677 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 22.15 vs. INDB: 25.92 )
Ranked among companies with meaningful Net-margin (%) only.
INDB' s Net-margin (%) Range Over the Past 10 Years
Min: 12.17  Med: 20.36 Max: 113.36
Current: 25.92
12.17
113.36
ROE (%) 10.01
INDB's ROE (%) is ranked higher than
62% of the 1675 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.39 vs. INDB: 10.01 )
Ranked among companies with meaningful ROE (%) only.
INDB' s ROE (%) Range Over the Past 10 Years
Min: 4.82  Med: 9.34 Max: 14.35
Current: 10.01
4.82
14.35
ROA (%) 1.08
INDB's ROA (%) is ranked higher than
65% of the 1683 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.89 vs. INDB: 1.08 )
Ranked among companies with meaningful ROA (%) only.
INDB' s ROA (%) Range Over the Past 10 Years
Min: 0.57  Med: 0.91 Max: 1.12
Current: 1.08
0.57
1.12
Revenue Growth (3Y)(%) 1.30
INDB's Revenue Growth (3Y)(%) is ranked lower than
59% of the 1371 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.10 vs. INDB: 1.30 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
INDB' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -38.8  Med: 3.2 Max: 71.1
Current: 1.3
-38.8
71.1
EBITDA Growth (3Y)(%) 9.10
INDB's EBITDA Growth (3Y)(%) is ranked higher than
61% of the 1253 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.80 vs. INDB: 9.10 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
INDB' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -14.1  Med: 9.1 Max: 19.7
Current: 9.1
-14.1
19.7
EPS Growth (3Y)(%) 8.60
INDB's EPS Growth (3Y)(%) is ranked higher than
55% of the 1231 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.30 vs. INDB: 8.60 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
INDB' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: -26  Med: 8.6 Max: 30.4
Current: 8.6
-26
30.4
» INDB's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q4 2015

INDB Guru Trades in Q4 2015

Jim Simons 154,589 sh (+28.60%)
Bernard Horn 111,424 sh (+22.55%)
Ken Fisher 68,354 sh (+12.87%)
Paul Tudor Jones Sold Out
» More
Q1 2016

INDB Guru Trades in Q1 2016

Jim Simons 179,008 sh (+15.80%)
Ken Fisher 74,272 sh (+8.66%)
Bernard Horn 111,424 sh (unchged)
» More
Q2 2016

INDB Guru Trades in Q2 2016

Bernard Horn 111,424 sh (unchged)
Jim Simons 163,108 sh (-8.88%)
Ken Fisher 61,699 sh (-16.93%)
» More
Q3 2016

INDB Guru Trades in Q3 2016

Bernard Horn 103,224 sh (-7.36%)
Jim Simons 137,108 sh (-15.94%)
Ken Fisher 45,919 sh (-25.58%)
» More
» Details

Insider Trades

Latest Guru Trades with INDB

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Banks » Banks - Regional - US    NAICS: 522110    SIC: 6022
Compare:NAS:WSBC, AMEX:PRK, NAS:BANR, NAS:RNST, NAS:NBTB, NAS:LTXB, NAS:FIBK, NYSE:YDKN, NAS:UCBI, NAS:FFBC, NAS:EGBN, NAS:FMBI, NAS:BNCN, NAS:WABC, NAS:CBF, NAS:ABCB, NAS:SFNC, NAS:UBSH, NAS:SSB, NYSE:FBP » details
Independent Bank Corp is a bank holding company. The Company, through its subsidiary bank, offers banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.

Independent Bank Corp is a state chartered, federally registered bank holding company headquartered in Rockland, Massachusetts "the Bank" that was incorporated under Massachusetts law in 1985. The Company is the sole stockholder of Rockland Trust Company, a Massachusetts trust company chartered in 1907. Rockland is a community-oriented commercial bank. The community banking business is the Company's only reportable operating segment. The community banking business is managed as a single strategic unit and derives its revenues from a wide range of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management. The Bank's borrowers consist of small-to-medium sized businesses and consumers. The Bank's market area is generally comprised of eastern Massachusetts, including Cape Cod and Rhode Island. All of the Bank's commercial, consumer real estate, and other consumer loan portfolios consist of loans made to residents of and businesses located in the Bank's market area. The majority of the real estate loans in the Bank's loan portfolio are secured by properties located within this market area. The majority of the real estate loans in the bank's loan portfolio are secured by properties located within this market area. The Bank's securities portfolio consists of U.S. Treasury securities, agency mortgage-backed securities, agency collateralized mortgage obligations, private mortgage-backed securities, state, county, and municipal securities, single issuer trust preferred securities issued by banks, pooled trust preferred securities issued by banks and insurers, equity securities held for the purpose of funding supplemental executive retirement plan obligations, and equity securities comprised of an investment in a community affordable housing and mutual fund. The majority of these securities are investment grade debt obligations with average lives of five years or less. The Rockland Trust Investment Management Group provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions throughout eastern Massachusetts, including Cape Cod, and Rhode Island. The Bank's competition for generating loans is mainly from other commercial banks, savings banks, credit unions, mortgage banking companies, insurance companies, finance companies, and other institutional lenders. In attracting deposits, the Bank's main competitors are savings banks, commercial and co-operative banks, credit unions, internet banks, as well as other nonbank institutions that offer financial alternatives such as brokerage firms and insurance companies. The Company is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, and as such is subject to regulation by the Board of Governors of the Federal Reserve System. Rockland Trust is subject to regulation and examination by the Commissioner of Banks of The Commonwealth of

Ratios

vs
industry
vs
history
P/E(ttm) 23.20
INDB's P/E(ttm) is ranked lower than
78% of the 1557 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.95 vs. INDB: 23.20 )
Ranked among companies with meaningful P/E(ttm) only.
INDB' s P/E(ttm) Range Over the Past 10 Years
Min: 8.26  Med: 15.53 Max: 37.23
Current: 23.2
8.26
37.23
Forward P/E 21.14
INDB's Forward P/E is ranked lower than
88% of the 334 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 15.24 vs. INDB: 21.14 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 23.20
INDB's PE(NRI) is ranked lower than
78% of the 1539 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.98 vs. INDB: 23.20 )
Ranked among companies with meaningful PE(NRI) only.
INDB' s PE(NRI) Range Over the Past 10 Years
Min: 8.26  Med: 15.53 Max: 37.23
Current: 23.2
8.26
37.23
Price/Owner Earnings (ttm) 30.65
INDB's Price/Owner Earnings (ttm) is ranked lower than
86% of the 883 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.78 vs. INDB: 30.65 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
INDB' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 6.19  Med: 15.14 Max: 2550
Current: 30.65
6.19
2550
P/B 2.22
INDB's P/B is ranked lower than
87% of the 1662 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.12 vs. INDB: 2.22 )
Ranked among companies with meaningful P/B only.
INDB' s P/B Range Over the Past 10 Years
Min: 0.48  Med: 1.46 Max: 2.37
Current: 2.22
0.48
2.37
P/S 5.99
INDB's P/S is ranked lower than
82% of the 1645 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.21 vs. INDB: 5.99 )
Ranked among companies with meaningful P/S only.
INDB' s P/S Range Over the Past 10 Years
Min: 1.23  Med: 3.2 Max: 19.05
Current: 5.99
1.23
19.05
PFCF 31.69
INDB's PFCF is ranked lower than
87% of the 826 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.19 vs. INDB: 31.69 )
Ranked among companies with meaningful PFCF only.
INDB' s PFCF Range Over the Past 10 Years
Min: 6.08  Med: 14.13 Max: 41.94
Current: 31.69
6.08
41.94
POCF 27.14
INDB's POCF is ranked lower than
88% of the 925 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.51 vs. INDB: 27.14 )
Ranked among companies with meaningful POCF only.
INDB' s POCF Range Over the Past 10 Years
Min: 5.68  Med: 12.23 Max: 56.47
Current: 27.14
5.68
56.47
EV-to-EBIT 14.62
INDB's EV-to-EBIT is ranked lower than
54% of the 1265 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.31 vs. INDB: 14.62 )
Ranked among companies with meaningful EV-to-EBIT only.
INDB' s EV-to-EBIT Range Over the Past 10 Years
Min: -18.5  Med: 13.35 Max: 55.5
Current: 14.62
-18.5
55.5
EV-to-EBITDA 13.04
INDB's EV-to-EBITDA is ranked lower than
54% of the 1263 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.92 vs. INDB: 13.04 )
Ranked among companies with meaningful EV-to-EBITDA only.
INDB' s EV-to-EBITDA Range Over the Past 10 Years
Min: -87.3  Med: 11.5 Max: 31.4
Current: 13.04
-87.3
31.4
PEG 3.48
INDB's PEG is ranked lower than
80% of the 752 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.28 vs. INDB: 3.48 )
Ranked among companies with meaningful PEG only.
INDB' s PEG Range Over the Past 10 Years
Min: 1.11  Med: 2.86 Max: 6.06
Current: 3.48
1.11
6.06
Shiller P/E 32.03
INDB's Shiller P/E is ranked lower than
75% of the 502 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 20.35 vs. INDB: 32.03 )
Ranked among companies with meaningful Shiller P/E only.
INDB' s Shiller P/E Range Over the Past 10 Years
Min: 6.08  Med: 15.09 Max: 32.69
Current: 32.03
6.08
32.69

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.62
INDB's Dividend Yield is ranked lower than
72% of the 2376 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.79 vs. INDB: 1.62 )
Ranked among companies with meaningful Dividend Yield only.
INDB' s Dividend Yield Range Over the Past 10 Years
Min: 1.6  Med: 2.48 Max: 6.23
Current: 1.62
1.6
6.23
Dividend Payout 0.38
INDB's Dividend Payout is ranked lower than
59% of the 1294 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9999.00 vs. INDB: 0.38 )
Ranked among companies with meaningful Dividend Payout only.
INDB' s Dividend Payout Range Over the Past 10 Years
Min: 0.21  Med: 0.36 Max: 1
Current: 0.38
0.21
1
Dividend Growth (3y) 7.40
INDB's Dividend Growth (3y) is ranked lower than
53% of the 739 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.00 vs. INDB: 7.40 )
Ranked among companies with meaningful Dividend Growth (3y) only.
INDB' s Dividend Growth (3y) Range Over the Past 10 Years
Min: 1.8  Med: 6.7 Max: 17
Current: 7.4
1.8
17
Forward Dividend Yield 1.66
INDB's Forward Dividend Yield is ranked lower than
75% of the 2299 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.98 vs. INDB: 1.66 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 2.38
INDB's Yield on cost (5-Year) is ranked lower than
65% of the 2629 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.56 vs. INDB: 2.38 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
INDB' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 2.32  Med: 3.59 Max: 9.03
Current: 2.38
2.32
9.03
3-Year Average Share Buyback Ratio -4.80
INDB's 3-Year Average Share Buyback Ratio is ranked lower than
62% of the 1061 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -2.00 vs. INDB: -4.80 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
INDB' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -16  Med: -2.1 Max: 4
Current: -4.8
-16
4

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.02
INDB's Price/Tangible Book is ranked lower than
91% of the 1660 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.19 vs. INDB: 3.02 )
Ranked among companies with meaningful Price/Tangible Book only.
INDB' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.9  Med: 2.33 Max: 4.81
Current: 3.02
0.9
4.81
Price/Projected FCF 1.39
INDB's Price/Projected FCF is ranked lower than
84% of the 872 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.74 vs. INDB: 1.39 )
Ranked among companies with meaningful Price/Projected FCF only.
INDB' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.43  Med: 0.87 Max: 1.42
Current: 1.39
0.43
1.42
Price/Median PS Value 1.88
INDB's Price/Median PS Value is ranked lower than
90% of the 1450 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. INDB: 1.88 )
Ranked among companies with meaningful Price/Median PS Value only.
INDB' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.49  Med: 0.98 Max: 5.96
Current: 1.88
0.49
5.96
Price/Peter Lynch Fair Value 3.13
INDB's Price/Peter Lynch Fair Value is ranked lower than
93% of the 381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.09 vs. INDB: 3.13 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
INDB' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.6  Med: 1.3 Max: 3.27
Current: 3.13
0.6
3.27
Price/Graham Number 1.77
INDB's Price/Graham Number is ranked lower than
89% of the 1404 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.92 vs. INDB: 1.77 )
Ranked among companies with meaningful Price/Graham Number only.
INDB' s Price/Graham Number Range Over the Past 10 Years
Min: 0.65  Med: 1.28 Max: 1.88
Current: 1.77
0.65
1.88
Earnings Yield (Greenblatt) (%) 6.84
INDB's Earnings Yield (Greenblatt) (%) is ranked higher than
59% of the 1663 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.80 vs. INDB: 6.84 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
INDB' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 1.8  Med: 7.2 Max: 11.2
Current: 6.84
1.8
11.2
Forward Rate of Return (Yacktman) (%) 11.95
INDB's Forward Rate of Return (Yacktman) (%) is ranked higher than
51% of the 886 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.59 vs. INDB: 11.95 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
INDB' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: 3.9  Med: 7.8 Max: 21.5
Current: 11.95
3.9
21.5

More Statistics

Revenue (TTM) (Mil) $304.5
EPS (TTM) $ 3.00
Beta0.95
Short Percentage of Float4.12%
52-Week Range $39.58 - 71.45
Shares Outstanding (Mil)27.00

Analyst Estimate

Dec16 Dec17 Dec18
Revenue (Mil $)
EPS ($) 3.03 3.30 3.38
EPS w/o NRI ($) 3.03 3.30 3.38
EPS Growth Rate
(3Y to 5Y Estimate)
N/A
Dividends Per Share ($)
» More Articles for INDB

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Independent Bank Corp. Reports Operating Results (10-K) Mar 08 2011 
Independent Bank Corp. Reports Operating Results (10-Q) Aug 05 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 05 2009 
Independent Bank Corp. Reports Operating Results (10-Q) Aug 06 2009 
Independent Bank Corp. Reports Operating Results (10-Q) May 08 2009 

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Edited Transcript of INDB earnings conference call or presentation 21-Oct-16 3:00pm GMT Oct 21 2016

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