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Independent Bank Corp (INDB) Files 10-K for the Fiscal Year Ended on December 31, 2017

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Independent Bank Corp (INDB) files its latest 10-K with SEC for the fiscal year ended on December 31, 2017. Independent Bank Corp is a provider of financial services. The company functions through the Rockland Trust Company to render commercial banking solutions including lending activities, acceptance of demand, savings and investment management. Independent Bank Corp has a market cap of $1.96 billion; its shares were traded at around $71.55 with a P/E ratio of 22.49 and P/S ratio of 5.85. The dividend yield of Independent Bank Corp stocks is 1.78%. Independent Bank Corp had annual average EBITDA growth of 8.20% over the past five years.


For the last quarter Independent Bank Corp reported a revenue of $89.7 million, compared with the revenue of $80.51 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $341.9 million, an increase of 10.2% from last year. For the last five years Independent Bank Corp had an average revenue growth rate of 7.7% a year.

The reported diluted earnings per share was $3.19 for the year, an increase of 10% from previous year. Over the last five years Independent Bank Corp had an EPS growth rate of 10% a year. The Independent Bank Corp enjoyed an operating margin of 39.36%, compared with the operating margin of 36.12% a year before. The 10-year historical median operating margin of Independent Bank Corp is 27.56%. The profitability rank of the company is 5 (out of 10).

At the end of the fiscal year, Independent Bank Corp has the cash and cash equivalents of $213.1 million, compared with $289.1 million in the previous year. The long term debt was $161.0 million, compared with $158.6 million in the previous year. The interest coverage to the debt is 7.3. Independent Bank Corp has a financial strength rank of 5 (out of 10).

At the current stock price of $71.55, Independent Bank Corp is traded at 81.6% premium to its historical median P/S valuation band of $39.39. The P/S ratio of the stock is 5.85, while the historical median P/S ratio is 3.22. The stock gained 13.42% during the past 12 months.

CEO Recent Trades:

  • President and CEO Christopher Oddleifson sold 1,200 shares of INDB stock on 02/02/2018 at the average price of $72.6. The price of the stock has decreased by 1.45% since.

CFO Recent Trades:

  • CFO and Treasurer Robert D Cozzone bought 788 shares of INDB stock on 02/23/2018 at the average price of $71.25. The price of the stock has increased by 0.42% since.

For the complete 20-year historical financial data of INDB, click here.

This article first appeared on GuruFocus.