Fact based stock research
Independent Bank (NasdaqGS:INDB)

US4538361084

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Independent Bank stock research in summary

indb.rocklandtrust.com

ANALYSIS: With an Obermatt Combined Rank of 96 (better than 96% compared with investment alternatives), Independent Bank (Regional Banks, USA) shares have much better financial characteristics than comparable stocks. Shares of Independent Bank are a good value (attractively priced) with a consolidated Value Rank of 68 (better than 68% of alternatives), show above-average growth (Growth Rank of 73), and are safely financed (Safety Rank of 86), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 96, is a strong buy recommendation based on Independent Bank's financial characteristics. As the company Independent Bank's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 68), above-average growth (Obermatt Growth Rank of 73), and indicate that the company is safely financed (Obermatt Safety Rank of 86), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Independent Bank. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	68
Growth Rank	73
Safety Rank	86
Combined Rank	96

Country	USA
Industry	Regional Banks
Index	Sound Pay USA, NASDAQ
Size class	Medium

10-Apr-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Independent Bank

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	3	32	55	68
GROWTH
GROWTH	26	9	75	73
SAFETY
SAFETY	75	97	96	86
SENTIMENT
SENTIMENT	69	42	67	^new
360° VIEW
360° VIEW	29	34	100	^new

Most recent update of the stock research: 10-Apr-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Independent Bank is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	3	32	55	68
GROWTH
GROWTH	26	9	75	73
SAFETY
SAFETY	75	97	96	86
COMBINED
COMBINED	12	34	98	96

Last update of combined financial performance: 10-Apr-2025. Stock analysis on combined financial performance: The higher the rank of Independent Bank the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 68 (better than 68% compared with alternatives), Independent Bank shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Independent Bank. Expected dividend yields are higher than for 72% of comparable companies (a Dividend Yield rank of 72), making the stock attractive. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 78, which means that the stock price is lower compared with invested capital than for 78% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 34 which means that the stock price compared with what market professionals expect for future profits is higher than for 66% of comparable companies, indicating a low value concerning Independent Bank's sales levels. The Price-to-Profit ratio (also referred to as price-earnings (P/E) ratio) is also unfavorable for Independent Bank with a rank of 41. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 59% of comparable companies, indicating a low value concerning Independent Bank's profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 68, is a buy recommendation based on Independent Bank's stock price compared with the company's operational size and dividend yields. The company seems confident that it can generate a reasonable return on invested capital, because it pays an above-average dividend while profits are below what you would expect for a company with this stock price. If you agree with this practice and believe that profits will return to higher levels, as the current dividend policy suggests, Independent Bank may be an attractive investment. If this is not the case, you may want to be careful with this stock as it is also expensive compared with its expected revenue levels. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	3	16	30	34
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	28	30	41
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	19	64	72	78
DIVIDEND YIELD
DIVIDEND YIELD	47	58	71	72
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	3	32	55	68

Last update of Value Rank: 10-Apr-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Independent Bank; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 73 (better than 73% compared with alternatives), Independent Bank shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Independent Bank. Sales Growth has a rank of 100 which means that currently, professionals expect the company to grow more than 100% of its competitors. Both Profit Growth, with a rank of 67, and Stock Returns, with a rank of 65, are also above average. But Capital Growth only has a rank of 24, which means that, currently, professionals expect the company to grow its invested capital less than 76% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 73, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	96	19	100	100
PROFIT GROWTH
PROFIT GROWTH	46	39	72	67
CAPITAL GROWTH
CAPITAL GROWTH	8	51	24	24
STOCK RETURNS
STOCK RETURNS	9	9	59	65
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	26	9	75	73

Last update of Growth Rank: 10-Apr-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Independent Bank.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 86 (better than 86% compared with alternatives) for 2025, the company Independent Bank has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Independent Bank is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Independent Bank. Leverage is at a rank of 75, meaning the company has a below-average debt-to-equity ratio. It has less debt than 75% of its competitors. Liquidity is also good at a rank of 76, meaning the company generates more profit to service its debt than 76% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 48, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 52% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 86 (better than 86% compared with alternatives), Independent Bank has a financing structure that is significantly safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Independent Bank. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Independent Bank and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	52	76	69	75
REFINANCING
REFINANCING	65	58	63	48
LIQUIDITY
LIQUIDITY	73	95	77	76
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	75	97	96	86

Last update of Safety Rank: 10-Apr-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Independent Bank and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	31	50	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	86	^new
PRO HOLDINGS
PRO HOLDINGS	71	74	89	^new
MARKET PULSE
MARKET PULSE	24	37	20	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	69	42	67	^new

Last update of Sentiment Rank: 10-Apr-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Independent Bank.
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