Independent Bank Corp.

Independent Bank Corp.

INDBยทNASDAQ

$76.74

-0.97%
Financial ServicesBanks - Regional

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. The company accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It also offers commercial and industrial, commercial real estate and construction, small business, consumer real estate, and personal loans. In addition, the company provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2021, it operates one hundred nineteen retail branches, two limited-service retail branches, and one mobile branch located within Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties in Eastern Massachusetts. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

At a Glance

Live Snapshot
Market Cap$3.70B
EPS4.4500
P/E Ratio17.24
Earnings Date07/16/2026
Independent Bank Corp.

Independent Bank Corp. Fair Value Envelope

INDB ยท NASDAQ

Our analysis suggests that INDB has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $76.74, this represents a potential HIDDEN relative to our calculated worth for Independent Bank Corp..

Intrinsic Value
Current Price: $76.74

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$10.9B
+ Cash & Equivalents$229.8M
Firm Value$11.1B
- Debt$901.3M
Equity Value$10.2B
/ Shares Outstanding49,577,849B
DCF Value$207
UNDERVALUED BY 169%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$287.1M
$328.3M
$375.3M
$429.1M
$490.6M
$560.9M
$641.2M
$733.1M
$838.1M
$958.2M
Maintenance CapEx
-$2.8M
-$3.2M
-$3.6M
-$4.1M
-$4.7M
-$5.4M
-$6.2M
-$7.1M
-$8.1M
-$9.3M
Owner Earnings
$284.4M
$325.1M
$371.7M
$424.9M
$485.8M
$555.4M
$635.0M
$726.0M
$830.0M
$948.9M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$263.3M
$278.7M
$295.1M
$312.3M
$330.6M
$350.0M
$370.5M
$392.2M
$415.2M
$439.5M
Terminal Value represents 68.4% of Enterprise Value