Fact based stock research
Independent Bank (NasdaqGS:IBCP)

US4538386099

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

ir.independentbank.com

ANALYSIS: With an Obermatt Combined Rank of 62 (better than 62% 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 25 (worse than 75% of alternatives). But they show above-average growth (Growth Rank of 73) and are safely financed (Safety Rank of 72, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 62, 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 25), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 73). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 72) 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	25
Growth Rank	73
Safety Rank	72
Combined Rank	62

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

27-Feb-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	53	39	25	25
GROWTH
GROWTH	32	51	73	73
SAFETY
SAFETY	43	82	62	72
SENTIMENT
SENTIMENT	55	63	69	^new
360° VIEW
360° VIEW	25	63	69	^new

Most recent update of the stock research: 27-Feb-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	53	39	25	25
GROWTH
GROWTH	32	51	73	73
SAFETY
SAFETY	43	82	62	72
COMBINED
COMBINED	24	58	53	62

Last update of combined financial performance: 27-Feb-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 25 (worse than 75% 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. Price-to-Profit (also referred to as price-earnings, P/E) is 55 which means that the stock price compared with what market professionals expect for future profits is lower than for 55% of comparable companies, indicating a good value concerning Independent Bank's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 10, which means that the stock price is lower as regards to invested capital than for 10% of comparable investments. On the other hand, Price-to-Sales is less favorable than 80% of alternatives (only 20% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 42% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 25, is a hold recommendation based on Independent Bank's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. 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 especially important 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)	32	36	20	20
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	63	68	57	55
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	38	15	8	10
DIVIDEND YIELD
DIVIDEND YIELD	93	74	58	58
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	53	39	25	25

Last update of Value Rank: 27-Feb-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 half of the indicators below and half above average for Independent Bank. Capital Growth has a rank of 81, which means that currently professionals expect the company to grow its invested capital more than 28% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 89 (above 89% of alternative investments). But Sales Growth has only a rank of 46, which means that, currently, professionals expect the company to grow less than 54% of its competitors, and Profit Growth is also low at a rank of 28. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 73, is a buy recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Independent Bank, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. 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, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	32	66	46	46
PROFIT GROWTH
PROFIT GROWTH	23	47	28	28
CAPITAL GROWTH
CAPITAL GROWTH	70	21	83	81
STOCK RETURNS
STOCK RETURNS	57	89	85	89
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	32	51	73	73

Last update of Growth Rank: 27-Feb-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 72 (better than 72% 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. Refinancing is at 66, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 66% of its competitors. Liquidity is also good at 68, meaning the company generates more profit to service its debt than 68% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 42, which means the company has an above-average debt-to-equity ratio. It has more debt than 58% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 72 (better than 72% compared with alternatives), Independent Bank has a financing structure that is safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Independent Bank could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a 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	36	65	44	42
REFINANCING
REFINANCING	79	73	66	66
LIQUIDITY
LIQUIDITY	23	59	67	68
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	43	82	62	72

Last update of Safety Rank: 27-Feb-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	22	1	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	97	^new
PRO HOLDINGS
PRO HOLDINGS	45	92	60	^new
MARKET PULSE
MARKET PULSE	82	79	96	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	55	63	69	^new

Last update of Sentiment Rank: 27-Feb-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Independent Bank.
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