As of Apr 26, 2024, the Independent Bank stock's P/E ratio is 9.73. This takes into account the latest EPS of $5.42 and stock price of $52.73. The PE ratio at present is nearly equal to the average from the previous 4 quarters.
The PE ratio of Independent Bank has averaged 17.83 over the last ten years. The current price-to-earnings ratio of 9.73 is 45% less than the historical average. Analyzing the last ten years, INDB's PE ratio reached its highest point in the Sep 2017 quarter at 24.64, when the price was $74.65 and the EPS was $3.03. The lowest point was recorded in the Jun 2023 quarter, when it reached 7.38 with a price of $44.51 and an EPS of $6.03.
Maximum annual increase: 31.08% in 2016
Maximum annual decrease: -36.85% in 2022
| Year | PE ratio | Change |
|---|---|---|
| 2023 | 12.14 | -18.19% |
| 2022 | 14.84 | -36.85% |
| 2021 | 23.5 | 17.09% |
| 2020 | 20.07 | 21.27% |
| 2019 | 16.55 | 3.83% |
| 2018 | 15.94 | -27.21% |
| 2017 | 21.9 | -9.84% |
| 2016 | 24.29 | 31.08% |
| 2015 | 18.53 | 8.24% |
| 2014 | 17.12 | -4.57% |
Currently, INDB's PE ratio is under its 3, 5 and 10-year averages.
When compared to its peers BRKL and UNB, INDB's PE ratio is lower, but it is higher than WBS's and WASH's. Independent Bank's PE ratio is trading above the peer average of 9.35.
| Stock name | PE ratio | Market cap |
|---|---|---|
| EBTC Enterprise Bancorp Inc | 8.01 | $305.74M |
| BHB Bar Harbor Bankshares | 8.62 | $387.37M |
| WBS Webster Financial Corp | 9.17 | $7.73B |
| WASH Washington Trust Bancorp Inc | 9.27 | $445.25M |
| INDB Independent Bank Corp | 9.73 | $2.24B |
| BRKL Brookline Bancorp Inc | 9.81 | $741.38M |
| UNB Union Bankshares Inc | 11.24 | $127.04M |
The price to earnings ratio for INDB stock is 9.73 as of Apr 26, 2024.
As an average over the last 3 years, INDB stock has a PE ratio of 16.08.
As an average over the last 5 years, INDB stock has a PE ratio of 16.28.
Over the last ten years, the quarterly PE ratio reached its highest level at 24.64 in the Sep 2017 quarter.
INDB's price to earnings ratio is currently 45% below its 10-year historical average.
INDB's PE ratio is low because its earnings per share (EPS) is high relative to its stock price.
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months earnings per share(EPS). As of today (Apr 26, 2024), Independent Bank's share price is $52.73. The company's earnings per share for the trailing twelve months (TTM) ending Dec 2023 is $5.42. Therefore, Independent Bank's price to earnings ratio for today is 9.73. PE RATIO(9.73) = STOCK PRICE($52.73) / TTM EPS($5.42)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.