Independent Bank Corp
Research Independent Bank Corp (INDB) on Bullrun: valuation model: 11.6% overvalued, market cap USD 3.96B, P/E 15.0, dividend yield 3.0%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerINDB
- ExchangeNASDAQ
- CountryUnited States
- SectorFinancial Services
- IndustryBanks-Regional
- CurrencyUSD
- Valuation signal11.6% overvalued
- Market capUSD 3.96B
- P/E15.0
- Dividend yield3.0%
- Financial periodQ2 2026
- RevenueUSD 250.86M
- Net incomeUSD 81.84M
- Free cash flowUSD 66.97M
Valuation Snapshot
Bullrun's latest valuation model marks Independent Bank Corp as 11.6% overvalued; latest market cap is USD 3.96B; P/E is 15.0; dividend yield is 3.0%.
Peer valuation comparison
Latest P/E is 15.01x versus a Financial Services sector median of 13.84x (8.5% above).
Latest dividend yield is 2.98% versus a Financial Services sector median of 3.86% (22.7% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 845.11M | USD 205.12M | USD 239.03M | n/a | 4.44 | USD 771.90M | USD 359.35M | USD 3.57B |
| FY2024 | USD 683.73M | USD 192.08M | USD 209.49M | n/a | 4.52 | USD 219.89M | USD 62.86M | USD 2.99B |
| FY2023 | n/a | USD 239.50M | USD 261.15M | n/a | 5.42 | USD 224.33M | USD 112.84M | USD 2.90B |
| FY2022 | n/a | USD 263.81M | USD 399.13M | n/a | 5.69 | USD 352.93M | USD 112.74M | USD 2.89B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 3.96B | 15.0 | 3.0% | 2.46 |
| 2025 | 2025-12-31 | USD 3.59B | 16.4 | 3.2% | 2.36 |
| 2024 | 2024-12-31 | USD 2.72B | 14.2 | 3.6% | 2.28 |
| 2023 | 2023-12-29 | USD 2.89B | 11.3 | 3.3% | 2.2 |
| 2022 | 2022-12-30 | USD 3.85B | 20.8 | 2.5% | 2.08 |
| 2021 | 2021-12-31 | USD 3.86B | 22.3 | 2.4% | 1.92 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.46 USD, yield 3.0%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.36 USD |
| FY2024 | 2.28 USD |
| FY2023 | 2.2 USD |
| FY2022 | 2.08 USD |
About Independent Bank Corp
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 in the United States. It provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. The company also offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans;
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Frequently asked questions
Is Independent Bank Corp overvalued or undervalued?
Bullrun's valuation model currently marks Independent Bank Corp as 11.6% overvalued.
What is Independent Bank Corp's market cap?
Independent Bank Corp's market capitalization is USD 3.96B.
What is Independent Bank Corp's P/E ratio?
Independent Bank Corp's price-to-earnings (P/E) ratio is 15.0.
Does Independent Bank Corp pay a dividend?
Independent Bank Corp has a dividend yield of 3.0%.
What does Independent Bank Corp do?
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 in the United States. It provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.