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Last $43.20 USD
Change Today -0.17 / -0.39%
Volume 97.3K
INDB On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

independent bank corp/ma (INDB) Snapshot

Open
$43.37
Previous Close
$43.37
Day High
$43.49
Day Low
$42.92
52 Week High
03/24/15 - $45.48
52 Week Low
05/9/14 - $32.97
Market Cap
1.2B
Average Volume 10 Days
127.0K
EPS TTM
$2.54
Shares Outstanding
27.4M
EX-Date
03/26/15
P/E TM
17.0x
Dividend
$1.04
Dividend Yield
2.27%
Current Stock Chart for INDEPENDENT BANK CORP/MA (INDB)

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independent bank corp/ma (INDB) Details

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides banking products and services primarily to small-to-medium sized businesses and individuals in Massachusetts. Its deposit products include demand deposits, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit. The company’s loan product portfolio comprises commercial loans, such as commercial and industrial loans, asset-based loans, commercial real estate loans, commercial construction loans, and small business loans; and consumer loans, including residential real estate loans, home equity loans, installment loans, overdraft protection, auto loans, unsecured loans, and loans secured by deposit accounts, as well as loans to purchase motorcycles, recreational vehicles, or boats. It also provides telephone, mobile, and Internet banking services; insurance services; and investment management and trust services to individuals, institutions, small businesses, and charitable institutions. The company operates through 75 full service and 3 limited service retail branches, 12 commercial banking centers, 5 investment management offices, and 5 mortgage lending centers in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

980 Employees
Last Reported Date: 02/27/15
Founded in 1907

independent bank corp/ma (INDB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $613.3K
Chief Financial Officer, Treasurer, Chief Fin...
Total Annual Compensation: $220.8K
Executive Vice President of Commercial Lendin...
Total Annual Compensation: $332.3K
Executive Vice President and Director of Reta...
Total Annual Compensation: $270.8K
Chief Operating Officer of Rockland Trust
Total Annual Compensation: $347.7K
Compensation as of Fiscal Year 2013.

independent bank corp/ma (INDB) Key Developments

Independent Bank Corp. Declares Quarterly Dividend, Payable on April 10, 2015

The Board of Directors of Independent Bank Corp. announced a quarterly dividend $0.26 per share which will be payable on April 10, 2015, to stockholders of record as of the close of business on March 30, 2015.

Independent Bank Corp. Appoints Maurice H. Sullivan, Jr. as a Director

Independent Bank Corp. announced the closing of its acquisition of Peoples Federal Bancshares Inc. parent of Peoples Federal Savings Bank. Independent has appointed Maurice H. Sullivan, Jr. a Class III Director of Independent, with a term expiring at its 2017 Annual Shareholder Meeting. Rockland Trust has also appointed Mr. Sullivan to its Board of Directors. Mr. Sullivan was the Chairman and Chief Executive Officer of Peoples Federal Bancshares Inc. and, from 1971 until his retirement from legal practice in 2007, was a practicing attorney representing businesses and individuals in the markets served by Peoples Federal.

Independent Bank Corp. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2014; Announces Net Charge-Offs for the Fourth Quarter of 2014; Provides Earnings Guidance for the Year 2015

Independent Bank Corp. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $54,827,000, net interest income of $49,820,000, income before income taxes of $22,179,000, net income of $15,978,000 or $0.66 per diluted share compared to the total interest income of $52,571,000, net interest income of $46,905,000, income before income taxes of $13,374,000, net income of $10,588,000 or $0.45 per diluted share for the same quarter a year ago. Tangible book value per share increased $0.52 during the quarter and now stands at $19.18. For the year, the company reported total interest income of $216,459,000, net interest income of $196,042,000, income before income taxes of $83,774,000, net income of $59,845,000 or $2.49 per diluted share compared to the total interest income of $205,914,000, net interest income of $182,578,000, income before income taxes of $66,738,000, net income of $50,254,000 or $2.18 per diluted share for the previous year. On an operating basis, the return on average assets was 1.02% and the return on average equity was 10.29%. Year-to-date, tangible book value per share has increased by $2. The company provided earnings guidance for the year 2015. For the year, the company anticipated operating diluted earnings per share will be in the range between $2.63 and $2.73. For the fourth quarter, total net charge-offs were $1.7 million, or 0.13% of average loans on an annualized basis, relatively consistent with the prior quarter results.

 

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Industry Analysis

INDB

Industry Average

Valuation INDB Industry Range
Price/Earnings 17.3x
Price/Sales 4.1x
Price/Book 1.6x
Price/Cash Flow 18.9x
TEV/Sales 2.1x
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