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 65 (better than 65% compared with investment alternatives), Independent Bank (Regional Banks, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Independent Bank are low in value (priced high) with a consolidated Value Rank of 27 (worse than 73% of alternatives). But they show above-average growth (Growth Rank of 69) and are safely financed (Safety Rank of 71, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 65, is a buy recommendation based on Independent Bank's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company Independent Bank exhibits low value (Obermatt Value Rank of 27), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 69). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 71) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). 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	27
Growth Rank	69
Safety Rank	71
Combined Rank	65

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

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

Further information

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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	27
GROWTH
GROWTH	26	9	75	69
SAFETY
SAFETY	75	97	96	71
SENTIMENT
SENTIMENT	69	42	67	^new
360° VIEW
360° VIEW	29	34	100	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. 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	27
GROWTH
GROWTH	26	9	75	69
SAFETY
SAFETY	75	97	96	71
COMBINED
COMBINED	12	34	98	65

Last update of combined financial performance: 31-Jul-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 27 (worse than 73% compared with alternatives), Independent Bank shares are more expensive than the average comparable stock. 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 62% of comparable companies (a Dividend Yield rank of 62), 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 64, which means that the stock price is lower compared with invested capital than for 64% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 9 which means that the stock price compared with what market professionals expect for future profits is higher than for 91% 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 31. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 69% 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 27, is a hold 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	9
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	28	30	31
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	19	64	72	64
DIVIDEND YIELD
DIVIDEND YIELD	47	58	71	62
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	3	32	55	27

Last update of Value Rank: 31-Jul-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 69 (better than 69% 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 half of the indicators below and half above average for Independent Bank. Sales Growth has a rank of 92, which means that, currently, professionals expect the company to grow more than 92% of its competitors. Profit Growth with a rank of 66 is also above average. But Capital Growth has only a rank of 30, and Stock Returns with 49 are also below-average. Stock returns for Independent Bank have recently been below 51% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 69, is a buy recommendation for growth and momentum investors. Are investors forecasting troubles based on the lack of operating investment activity at the company? This could be one explanation as to why stock returns are low. But stock returns can also be the result of correcting an error in the past, in this case, an overly optimistic outlook on the future, which is now more realistic. The Value Ranks may confirm such a picture. The more important growth indicators are revenues and profits, which are both above average for Independent Bank. This is a positive sign from the company's operational side and may give investors courage, despite the poor recent stock price performance. 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 the Obermatt Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	96	19	100	92
PROFIT GROWTH
PROFIT GROWTH	46	39	72	66
CAPITAL GROWTH
CAPITAL GROWTH	8	51	24	30
STOCK RETURNS
STOCK RETURNS	9	9	59	49
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	26	9	75	69

Last update of Growth Rank: 31-Jul-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 71 (better than 71% compared with alternatives), the company Independent Bank has financing practices on the safer side, which mean that their overall debt burden is lower than average. 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 52, meaning the company has a below-average debt-to-equity ratio. It has less debt than 52% of its competitors. Liquidity is also good at a rank of 89, meaning the company generates more profit to service its debt than 89% 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 39, 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 61% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 71 (better than 71% compared with alternatives), Independent Bank has a financing structure that is 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	52
REFINANCING
REFINANCING	65	58	63	39
LIQUIDITY
LIQUIDITY	73	95	77	89
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	75	97	96	71

Last update of Safety Rank: 31-Jul-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: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Independent Bank.
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