Independent Bank

Company Profile

Independent Bank had its IPO on 1990-03-27 under the ticker symbol INDB.

The company operates in the Financial Services sector and Banks-Regional industry. Independent Bank has a staff strength of 1,739 employees.

Stock update

Shares of Independent Bank opened at $51.69 at the start of the last trading session i.e. 2023-09-12.

The stocks traded within a range of $51.66 - $53, and closed at $52.25.

This is a -1.15% slip from the previous day's closing price.

A total volume of 213,387 shares were traded at the close of the day’s session.

In the last one week, shares of Independent Bank have slipped by -6.76%.

Independent Bank's Key Ratios

Independent Bank has a market cap of $2.33 billion, indicating a price to book ratio of 1.4324 and a price to sales ratio of 5.8357.

In the last 12-months Independent Bank’s revenue was $738.19 million with a gross profit of $718.36 million and an EBITDA of $0. The EBITDA ratio measures Independent Bank's overall financial performance and is widely used to measure its profitability.

In the trailing 12-month period, Independent Bank’s operating margin was 50.85% while its return on assets stood at 1.39% with a return of equity of 9.53%.

In Q2, Independent Bank’s quarterly earnings growth was a positive 7.5% while revenue growth was a positive 3.2%.

Independent Bank’s PE and PEG Ratio

Forward PE

13.21

Trailing PE

8.7662

PEG

10.9971

Its diluted EPS in the last 12-months stands at $6.03 per share while it has a forward price to earnings multiple of 13.21 and a PEG multiple of 10.9971. A low price to earnings ratio can mean the stock is attractively valued while a high ratio suggests the stock may be overvalued.

The PEG on the other hand provides a broader view compared to the P/E ratio and gives greater insight into Independent Bank’s profitability.

Independent Bank stock is trading at a EV to sales ratio of 0 and a EV to EBITDA ratio of 0. Its price to sales ratio in the trailing 12-months stood at 5.8357.

Independent Bank stock pays annual dividends of $2.16 per share, indicating a yield of 4.05% and a payout ratio of 35.76%.

Balance sheet and cash flow metrics

Total Assets

$19.40 billion

Total Liabilities

$16.15 billion

Operating Cash Flow

$-146077000.00

Capital Expenditure

$2.43 million

Dividend Payout Ratio

35.76%

Independent Bank ended 2024 with $19.40 billion in total assets and $0 in total liabilities. Its intangible assets were valued at $19.40 billion while shareholder equity stood at $2.85 billion.

Independent Bank ended 2024 with $0 in deferred long-term liabilities, $16.15 billion in other current liabilities, 440000.00 in common stock, $1.01 billion in retained earnings and $985.07 million in goodwill. Its cash balance stood at $308.26 million and cash and short-term investments were $1.68 billion. The company’s total short-term debt was $901,269,000 while long-term debt stood at $901.27 million.

Independent Bank’s total current assets stands at $1.68 billion while long-term investments were $3.02 billion and short-term investments were $1.37 billion. Its net receivables were $14.00 billion compared to accounts payable of $0 and inventory worth $0.

In 2024, Independent Bank's operating cash flow was $-146077000.00 while its capital expenditure stood at $2.43 million.

Comparatively, Independent Bank paid $0.36 in dividends in 2024.

Other key metrics

Current Trading Price

$52.25

52-Week High

$89.2053

52-Week Low

$42.7651

Analyst Target Price

$58

Independent Bank stock is currently trading at $52.25 per share. It touched a 52-week high of $89.2053 and a 52-week low of $89.2053. Analysts tracking the stock have a 12-month average target price of $58.

Its 50-day moving average was $54.16 and 200-day moving average was $63.64 The short ratio stood at 3.34 indicating a short percent outstanding of 0%.

Around 119.7% of the company’s stock are held by insiders while 8370.2% are held by institutions.