Switch to:

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 : 5/10

vs
industry
vs
history
Cash to Debt 1.65
INDB's Cash to Debt is ranked higher than
78% of the 1365 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.30 vs. INDB: 1.65 )
INDB' s 10-Year Cash to Debt Range
Min: 0.1   Max: 2.79
Current: 1.65

0.1
2.79
Equity to Asset 0.10
INDB's Equity to Asset is ranked higher than
70% of the 1753 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.09 vs. INDB: 0.10 )
INDB' s 10-Year Equity to Asset Range
Min: 0.06   Max: 0.1
Current: 0.1

0.06
0.1
Interest Coverage 2.86
INDB's Interest Coverage is ranked higher than
82% of the 1622 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.27 vs. INDB: 2.86 )
INDB' s 10-Year Interest Coverage Range
Min: 0.36   Max: 2.86
Current: 2.86

0.36
2.86
F-Score: 5
Z-Score: 0.25
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 (%) 28.60
INDB's Operating margin (%) is ranked higher than
75% of the 1776 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 28.81 vs. INDB: 28.60 )
INDB' s 10-Year Operating margin (%) Range
Min: -181.89   Max: 37.49
Current: 28.6

-181.89
37.49
Net-margin (%) 20.78
INDB's Net-margin (%) is ranked higher than
74% of the 1783 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.59 vs. INDB: 20.78 )
INDB' s 10-Year Net-margin (%) Range
Min: 12.17   Max: 113.36
Current: 20.78

12.17
113.36
ROE (%) 9.10
INDB's ROE (%) is ranked higher than
79% of the 1790 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.54 vs. INDB: 9.10 )
INDB' s 10-Year ROE (%) Range
Min: 6.4   Max: 17.79
Current: 9.1

6.4
17.79
ROA (%) 0.88
INDB's ROA (%) is ranked higher than
77% of the 1790 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.79 vs. INDB: 0.88 )
INDB' s 10-Year ROA (%) Range
Min: 0.57   Max: 1.15
Current: 0.88

0.57
1.15
ROC (Joel Greenblatt) (%) 119.16
INDB's ROC (Joel Greenblatt) (%) is ranked higher than
84% of the 1757 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 72.81 vs. INDB: 119.16 )
INDB' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -141.04   Max: 339.33
Current: 119.16

-141.04
339.33
Revenue Growth (%) 3.00
INDB's Revenue Growth (%) is ranked higher than
81% of the 1555 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.20 vs. INDB: 3.00 )
INDB' s 10-Year Revenue Growth (%) Range
Min: -38.8   Max: 71
Current: 3

-38.8
71
EBITDA Growth (%) 3.50
INDB's EBITDA Growth (%) is ranked higher than
70% of the 1398 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.70 vs. INDB: 3.50 )
INDB' s 10-Year EBITDA Growth (%) Range
Min: -14.1   Max: 19.9
Current: 3.5

-14.1
19.9
EPS Growth (%) 4.70
INDB's EPS Growth (%) is ranked higher than
71% of the 1407 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.90 vs. INDB: 4.70 )
INDB' s 10-Year EPS Growth (%) Range
Min: -26   Max: 30.4
Current: 4.7

-26
30.4
» INDB's 10-Y Financials

Financials


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

» Details

Guru Trades

Q3 2013

INDB Guru Trades in Q3 2013

Private Capital 28,148 sh (unchged)
Bernard Horn 90,924 sh (unchged)
David Dreman 49,380 sh (-72.6%)
» More
Q4 2013

INDB Guru Trades in Q4 2013

David Dreman 56,480 sh (+14.38%)
Private Capital 28,148 sh (unchged)
Bernard Horn 90,924 sh (unchged)
» More
Q1 2014

INDB Guru Trades in Q1 2014

David Dreman 58,205 sh (+3.05%)
Bernard Horn 90,924 sh (unchged)
Private Capital 28,023 sh (-0.44%)
» More
Q2 2014

INDB Guru Trades in Q2 2014

Bernard Horn 90,924 sh (unchged)
David Dreman 57,008 sh (-2.06%)
Private Capital 17,523 sh (-37.47%)
» 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%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Private Capital 2014-06-30 Reduce -37.47%0.05%$34.96 - $40.4 $ 37.570%17523
David Dreman 2013-09-30 Reduce -72.6%0.13%$34.75 - $38.04 $ 37.573%49380
Private Capital 2012-12-31 Reduce -29.36%0.04%$27.96 - $31.1 $ 37.5729%33148
Private Capital 2012-06-30 Reduce -71.36%0.27%$25.91 - $29.26 $ 37.5736%53874
David Dreman 2012-03-31 Add 44.68%0.04%$26.46 - $29.27 $ 37.5742%222878
David Dreman 2011-12-31 New Buy0.1%$20.42 - $27.95 $ 37.5748%154050
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 16.60
INDB's P/E(ttm) is ranked higher than
69% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.50 vs. INDB: 16.60 )
INDB' s 10-Year P/E(ttm) Range
Min: 8.22   Max: 36.89
Current: 16.6

8.22
36.89
P/B 1.46
INDB's P/B is ranked higher than
63% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.13 vs. INDB: 1.46 )
INDB' s 10-Year P/B Range
Min: 0.48   Max: 2.66
Current: 1.46

0.48
2.66
P/S 3.43
INDB's P/S is ranked higher than
68% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.97 vs. INDB: 3.43 )
INDB' s 10-Year P/S Range
Min: 1.24   Max: 19.8
Current: 3.43

1.24
19.8
PFCF 9.76
INDB's PFCF is ranked higher than
83% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 98.89 vs. INDB: 9.76 )
INDB' s 10-Year PFCF Range
Min: 6.1   Max: 42.16
Current: 9.76

6.1
42.16
EV-to-EBIT 10.88
INDB's EV-to-EBIT is ranked higher than
85% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 17.23 vs. INDB: 10.88 )
INDB' s 10-Year EV-to-EBIT Range
Min: 9.2   Max: 55.5
Current: 10.88

9.2
55.5
PEG 1.26
INDB's PEG is ranked higher than
87% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9999.00 vs. INDB: 1.26 )
INDB' s 10-Year PEG Range
Min: 0.99   Max: 5.7
Current: 1.26

0.99
5.7
Shiller P/E 19.48
INDB's Shiller P/E is ranked higher than
81% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 27.04 vs. INDB: 19.48 )
INDB' s 10-Year Shiller P/E Range
Min: 5.5   Max: 22.04
Current: 19.48

5.5
22.04

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.50
INDB's Dividend Yield is ranked higher than
53% of the 1505 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.44 vs. INDB: 2.50 )
INDB' s 10-Year Dividend Yield Range
Min: 1.57   Max: 6.23
Current: 2.5

1.57
6.23
Dividend Payout 0.41
INDB's Dividend Payout is ranked higher than
68% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.47 vs. INDB: 0.41 )
INDB' s 10-Year Dividend Payout Range
Min: 0.21   Max: 0.97
Current: 0.41

0.21
0.97
Dividend growth (3y) 6.90
INDB's Dividend growth (3y) is ranked higher than
79% of the 1053 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.60 vs. INDB: 6.90 )
INDB' s 10-Year Dividend growth (3y) Range
Min: 1.8   Max: 62
Current: 6.9

1.8
62
Yield on cost (5-Year) 3.30
INDB's Yield on cost (5-Year) is ranked higher than
59% of the 1518 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.80 vs. INDB: 3.30 )
INDB' s 10-Year Yield on cost (5-Year) Range
Min: 2.07   Max: 8.22
Current: 3.3

2.07
8.22
Share Buyback Rate -2.90
INDB's Share Buyback Rate is ranked higher than
70% of the 1327 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.90 vs. INDB: -2.90 )
INDB' s 10-Year Share Buyback Rate Range
Min: 1.8   Max: -14.4
Current: -2.9

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 2.07
INDB's Price/Tangible Book is ranked higher than
59% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.32 vs. INDB: 2.07 )
INDB' s 10-Year Price/Tangible Book Range
Min: 0.9   Max: 4.8
Current: 2.07

0.9
4.8
Price/DCF (Projected) 0.92
INDB's Price/DCF (Projected) is ranked higher than
73% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.03 vs. INDB: 0.92 )
INDB' s 10-Year Price/DCF (Projected) Range
Min: 0.43   Max: 1.21
Current: 0.92

0.43
1.21
Price/Median PS Value 1.08
INDB's Price/Median PS Value is ranked higher than
73% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.08 vs. INDB: 1.08 )
INDB' s 10-Year Price/Median PS Value Range
Min: 0.46   Max: 6.26
Current: 1.08

0.46
6.26
Price/Graham Number 1.24
INDB's Price/Graham Number is ranked higher than
65% of the 1927 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.04 vs. INDB: 1.24 )
INDB' s 10-Year Price/Graham Number Range
Min: 0.63   Max: 1.89
Current: 1.24

0.63
1.89
Earnings Yield (Greenblatt) 9.20
INDB's Earnings Yield (Greenblatt) is ranked higher than
82% of the 1692 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.00 vs. INDB: 9.20 )
INDB' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.8   Max: 10.9
Current: 9.2

1.8
10.9
Forward Rate of Return (Yacktman) 4.88
INDB's Forward Rate of Return (Yacktman) is ranked higher than
60% of the 1423 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 15.24 vs. INDB: 4.88 )
INDB' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 3.9   Max: 18.2
Current: 4.88

3.9
18.2

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
IIndependent Bank Corp. is a state chartered, federally registered bank holding company headquartered in Rockland, Massachusetts 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 development affordable housing 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

Personalized Checklist








Within your circle of competence?
Macro economic environment favorable?
High quality business?
Enough margin of safety with stocks?
Gurus are buying?
Insiders are buying?
Management capable and shareholder friendly?
Catalyst for stock price to appreciate?
Your level of confidence with the research?

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK