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1 Comment
Independent Bank Corp is currently in a long term downtrend where the price is trading 7.9% below its 200 day moving average.
From a valuation standpoint, the stock is 34.9% cheaper than other stocks from the Financial Services sector with a price to sales ratio of 5.9.
Independent Bank Corp's total revenue sank by 8.7% to $118M since the same quarter in the previous year.
Its net income has dropped by 27.0% to $35M since the same quarter in the previous year.
Finally, its free cash flow grew by 85.9% to $143M since the same quarter in the previous year.
Based on the above factors, Independent Bank Corp gets an overall score of 2/5.
Sector | Financial Services |
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Industry | Banks - Regional |
Exchange | NASDAQ |
CurrencyCode | USD |
ISIN | US4538361084 |
Beta | 0.86 |
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Market Cap | 2B |
Dividend Yield | 4.1% |
PE Ratio | 13.0 |
Target Price | 73.5 |
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 in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, the company provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; automated teller machines; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.
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