(INDB) Independent Bank - Overview
Stock: Checking, Savings, Loans, Mortgages, Investment
| Risk 5d forecast | |
|---|---|
| Volatility | 34.0% |
| Relative Tail Risk | -15.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.76 |
| Alpha | 11.51 |
| Character TTM | |
|---|---|
| Beta | 1.020 |
| Beta Downside | 1.235 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.10% |
| CAGR/Max DD | 0.11 |
EPS (Earnings per Share)
Revenue
Description: INDB Independent Bank January 12, 2026
Independent Bank Corp. (NASDAQ: INDB) is the holding company for Rockland Trust, a regional bank that serves individuals and small-to-medium enterprises across the United States with a full suite of deposit, loan, and cash-management products, plus wealth-management and insurance services.
As of the most recent quarter (Q4 2024), the bank reported $12.4 billion in total assets, a 5.2% year-over-year increase in loan balances, and a net interest margin of 3.1%, reflecting the benefit of a higher-for-longer interest-rate environment. Deposits grew 4.8% YoY, while the return on equity (ROE) held at 11.4%, outpacing the average for the GICS Sub-Industry “Regional Banks.”
The company’s performance is closely tied to macro-economic factors such as Federal Reserve policy, which drives both net interest income and credit-quality risk, and regional real-estate dynamics that affect its commercial-real-estate and residential-mortgage portfolios. Additionally, low-income housing tax-credit investments provide a modest, non-core revenue stream that can be sensitive to changes in federal tax legislation.
For a deeper quantitative assessment, you may want to explore ValueRay’s detailed valuation models and scenario analyses for INDB.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 205.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.30 > 1.0 |
| NWC/Revenue: -869.3% < 20% (prev -1534 %; Δ 664.3% < -1%) |
| CFO/TA 0.01 > 3% & CFO 215.1m > Net Income 205.1m |
| Net Debt (596.1m) to EBITDA (306.2m): 1.95 < 3 |
| Current Ratio: 0.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (49.5m) vs 12m ago 16.37% < -2% |
| Gross Margin: 67.93% > 18% (prev 0.66%; Δ 6727 % > 0.5%) |
| Asset Turnover: 5.27% > 50% (prev 5.03%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 0.85 > 6 (EBITDA TTM 306.2m / Interest Expense TTM 313.6m) |
Altman Z'' -2.36
| A: -0.41 (Total Current Assets 229.8m - Total Current Liabilities 10.38b) / Total Assets 24.91b |
| B: 0.05 (Retained Earnings 1.27b / Total Assets 24.91b) |
| C: 0.01 (EBIT TTM 266.9m / Avg Total Assets 22.14b) |
| D: 0.06 (Book Value of Equity 1.23b / Total Liabilities 21.35b) |
| Altman-Z'' Score: -2.36 = D |
What is the price of INDB shares?
Over the past week, the price has changed by -2.71%, over one month by +13.87%, over three months by +22.21% and over the past year by +25.56%.
Is INDB a buy, sell or hold?
- StrongBuy: 2
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the INDB price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 90 | 7.6% |
| Analysts Target Price | 90 | 7.6% |
| ValueRay Target Price | 96.4 | 15.2% |
INDB Fundamental Data Overview February 14, 2026
P/E Forward = 11.1982
P/S = 5.1859
P/B = 1.1297
P/EG = 10.9971
Revenue TTM = 1.17b USD
EBIT TTM = 266.9m USD
EBITDA TTM = 306.2m USD
Long Term Debt = 775.4m USD (from longTermDebt, two quarters ago)
Short Term Debt = unknown (none)
Debt = 825.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 596.1m USD (from netDebt column, last quarter)
Enterprise Value = 4.70b USD (4.11b + Debt 825.8m - CCE 229.8m)
Interest Coverage Ratio = 0.85 (Ebit TTM 266.9m / Interest Expense TTM 313.6m)
EV/FCF = 22.53x (Enterprise Value 4.70b / FCF TTM 208.7m)
FCF Yield = 4.44% (FCF TTM 208.7m / Enterprise Value 4.70b)
FCF Margin = 17.88% (FCF TTM 208.7m / Revenue TTM 1.17b)
Net Margin = 17.57% (Net Income TTM 205.1m / Revenue TTM 1.17b)
Gross Margin = 67.93% ((Revenue TTM 1.17b - Cost of Revenue TTM 374.3m) / Revenue TTM)
Gross Margin QoQ = 74.91% (prev 61.23%)
Tobins Q-Ratio = 0.19 (Enterprise Value 4.70b / Total Assets 24.91b)
Interest Expense / Debt = 10.30% (Interest Expense 85.0m / Debt 825.8m)
Taxrate = 20.54% (19.5m / 94.8m)
NOPAT = 212.1m (EBIT 266.9m * (1 - 20.54%))
Current Ratio = 0.02 (Total Current Assets 229.8m / Total Current Liabilities 10.38b)
Debt / Equity = 0.23 (Debt 825.8m / totalStockholderEquity, last quarter 3.57b)
Debt / EBITDA = 1.95 (Net Debt 596.1m / EBITDA 306.2m)
Debt / FCF = 2.86 (Net Debt 596.1m / FCF TTM 208.7m)
Total Stockholder Equity = 3.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.93% (Net Income 205.1m / Total Assets 24.91b)
RoE = 6.21% (Net Income TTM 205.1m / Total Stockholder Equity 3.31b)
RoCE = 6.54% (EBIT 266.9m / Capital Employed (Equity 3.31b + L.T.Debt 775.4m))
RoIC = 5.28% (NOPAT 212.1m / Invested Capital 4.02b)
WACC = 9.43% (E(4.11b)/V(4.93b) * Re(9.68%) + D(825.8m)/V(4.93b) * Rd(10.30%) * (1-Tc(0.21)))
Discount Rate = 9.68% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 6.67%
[DCF Debug] Terminal Value 70.80% ; FCFF base≈213.3m ; Y1≈188.9m ; Y5≈156.9m
Fair Price DCF = 33.53 (EV 2.23b - Net Debt 596.1m = Equity 1.63b / Shares 48.6m; r=9.43% [WACC]; 5y FCF grow -14.05% → 2.90% )
EPS Correlation: -21.75 | EPS CAGR: 9.01% | SUE: 0.82 | # QB: 0
Revenue Correlation: 91.48 | Revenue CAGR: 21.14% | SUE: 4.0 | # QB: 3
EPS next Quarter (2026-03-31): EPS=1.68 | Chg30d=+0.014 | Revisions Net=+1 | Analysts=5
EPS current Year (2026-12-31): EPS=7.28 | Chg30d=+0.020 | Revisions Net=+2 | Growth EPS=+29.1% | Growth Revenue=+21.2%
EPS next Year (2027-12-31): EPS=8.30 | Chg30d=+0.257 | Revisions Net=+2 | Growth EPS=+13.9% | Growth Revenue=+5.9%