INDB
Independent Bank
PE ratio, current and historical analysis
- Stocks
- Financial Services
- NASDAQ: INDB
- PE Ratio
As of Jun 23, 2026, the Independent Bank stock's P/E ratio is 16.33. This takes into account the latest EPS of $5.08 and stock price of $82.96. The PE ratio has increased by 4.8% from its last 4 quarters average of 15.6.
INDB PE ratio history
The PE ratio of Independent Bank has averaged 16.92 over the last ten years. The current price-to-earnings ratio of 16.33 is 3.5% 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.
Independent Bank PE ratio by year
Maximum annual increase: 31.08% in 2016
Maximum annual decrease: -36.85% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 16.46 | 15.92% | $73.08 | $4.44 |
| 2024 | 14.2 | 16.97% | $64.19 | $4.52 |
| 2023 | 12.14 | -18.19% | $65.81 | $5.42 |
| 2022 | 14.84 | -36.85% | $84.43 | $5.69 |
| 2021 | 23.5 | 17.09% | $81.53 | $3.47 |
| 2020 | 20.07 | 21.27% | $73.04 | $3.64 |
| 2019 | 16.55 | 3.83% | $83.25 | $5.03 |
| 2018 | 15.94 | -27.21% | $70.31 | $4.41 |
| 2017 | 21.9 | -9.84% | $69.85 | $3.19 |
| 2016 | 24.29 | 31.08% | $70.45 | $2.9 |
| 2015 | 18.53 | 8.24% | $46.52 | $2.51 |
| 2014 | 17.12 | -4.57% | $42.81 | $2.5 |
| 2013 | 17.94 | 21.46% | $39.12 | $2.18 |
| 2012 | 14.77 | 14.76% | $28.95 | $1.96 |
| 2011 | 12.87 | -9.62% | $27.29 | $2.12 |
Independent Bank PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 14.81 | -10.02% | $75.21 | $5.08 |
| Dec 2025 | 16.46 | -2.2% | $73.08 | $4.44 |
| Sep 2025 | 16.83 | 18.52% | $69.17 | $4.11 |
| Jun 2025 | 14.2 | 0.64% | $62.89 | $4.43 |
| Mar 2025 | 14.11 | -0.63% | $62.65 | $4.44 |
| Dec 2024 | 14.2 | 10.51% | $64.19 | $4.52 |
| Sep 2024 | 12.85 | 25.86% | $59.13 | $4.6 |
| Jun 2024 | 10.21 | 1.69% | $50.72 | $4.97 |
| Mar 2024 | 10.04 | -17.3% | $52.02 | $5.18 |
| Dec 2023 | 12.14 | 44.35% | $65.81 | $5.42 |
| Sep 2023 | 8.41 | 13.96% | $49.09 | $5.84 |
| Jun 2023 | 7.38 | -33.33% | $44.51 | $6.03 |
| Mar 2023 | 11.07 | -25.4% | $65.62 | $5.93 |
| Dec 2022 | 14.84 | -22.95% | $84.43 | $5.69 |
| Sep 2022 | 19.26 | -14.89% | $74.53 | $3.87 |
INDB Price vs fair value
INDB average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, INDB's PE ratio is higher than the 3 and 5-year averages, but it is under its 10-year average.
PE comparison
Independent Bank's price to earnings (P/E) of 16.33 is higher than the Financial Services sector, the industry and its peers average. Looking at the Financial Services sector average of 12.95, Independent Bank's price to earnings (P/E) is 26% higher.
INDB PE vs peers
When compared to its peer stocks WBS and WASH, INDB's PE ratio is higher. Independent Bank's PE ratio is trading above the peer average of 12.56.
| Stock name | PE ratio | Market cap |
|---|---|---|
| UNB Union Bankshares Inc | 9.78 | $114.15M |
| WBS Webster Financial Corp | 12.4 | $12.3B |
| WASH Washington Trust Bancorp Inc | 12.95 | $679.12M |
| BHB Bar Harbor Bankshares | 15.11 | $624.98M |
| INDB Independent Bank Corp | 16.33 | $4.01B |
Frequently asked questions
What is Independent Bank's PE ratio?
The price to earnings ratio for INDB stock is 16.33 as of Jun 23, 2026.
What is the 3-year average PE ratio for Independent Bank (INDB)?
As an average over the last 3 years, INDB stock has a PE ratio of 12.64.
What is the 5-year average PE ratio for Independent Bank (INDB)?
As an average over the last 5 years, INDB stock has a PE ratio of 15.03.
What is the highest PE ratio for INDB?
Over the last ten years, the quarterly PE ratio reached its highest level at 24.64 in the Sep 2017 quarter.
How does the current PE ratio for INDB compare to its historical average?
INDB's price to earnings ratio is currently 3.5% below its 10-year historical average.
How is INDB's PE ratio calculated (Independent Bank PE ratio formula)?
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 (Jun 23, 2026), Independent Bank's share price is $82.96. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $5.08. Therefore, Independent Bank's price to earnings ratio for today is 16.33. PE RATIO(16.33) = STOCK PRICE($82.96) / TTM EPS($5.08)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.