Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Independent Bank Corp. (INDB)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$143.60 - $362.99$216.29
Multi-Stage$101.08 - $110.34$105.63
Blended Fair Value$160.96
Current Price$69.17
Upside132.70%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.55%15.67%2.232.272.171.451.411.230.930.790.690.61
YoY Growth---1.84%4.56%49.41%3.12%14.20%32.63%17.98%14.59%13.52%16.62%
Dividend Yield--3.55%4.47%3.31%1.78%1.67%1.92%1.11%1.10%1.06%1.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)275.35
(-) Cash Dividends Paid (M)98.73
(=) Cash Retained (M)176.62
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)55.0734.4220.65
Cash Retained (M)176.62176.62176.62
(-) Cash Required (M)-55.07-34.42-20.65
(=) Excess Retained (M)121.55142.20155.97
(/) Shares Outstanding (M)43.2043.2043.20
(=) Excess Retained per Share2.813.293.61
LTM Dividend per Share2.292.292.29
(+) Excess Retained per Share2.813.293.61
(=) Adjusted Dividend5.105.585.90
WACC / Discount Rate9.25%9.25%9.25%
Growth Rate5.50%6.50%7.50%
Fair Value$143.60$216.29$362.99
Upside / Downside107.60%212.69%424.78%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)275.35293.24312.30332.60354.22377.25388.57
Payout Ratio35.86%46.69%57.51%68.34%79.17%90.00%92.50%
Projected Dividends (M)98.73136.90179.62227.31280.44339.52359.42

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.25%9.25%9.25%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)124.14125.32126.49
Year 2 PV (M)147.69150.50153.34
Year 3 PV (M)169.48174.34179.30
Year 4 PV (M)189.60196.89204.39
Year 5 PV (M)208.14218.19228.63
PV of Terminal Value (M)3,527.773,698.163,875.07
Equity Value (M)4,366.814,563.404,767.23
Shares Outstanding (M)43.2043.2043.20
Fair Value$101.08$105.63$110.34
Upside / Downside46.13%52.71%59.53%

High-Yield Dividend Screener

« Prev Page 124 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
603106.SSCashway Fintech Co.,Ltd.0.28%$0.0316.66%
603111.SSNanjing Kangni Mechanical & Electrical Co.,Ltd0.28%$0.024.42%
605108.SSTongqinglou Catering Co., Ltd.0.28%$0.0530.22%
688630.SSCircuit Fabology Microelectronics Equipment Co.,Ltd.0.28%$0.3723.88%
688700.SSKunshan Dongwei Technology Co.,Ltd.0.28%$0.1034.56%
9252.TLast One Mile Co.,Ltd.0.28%$11.094.66%
BGSIBoyd Group Services Inc.0.28%$0.4458.23%
CIGIColliers International Group Inc.0.28%$0.4112.97%
001223.SZOK Science and Technology Co., Ltd.0.27%$0.1318.10%
002365.SZQianjiang Yongan Pharmaceutical Co., Ltd.0.27%$0.0446.52%
101160.KQWorldex Industry & Trading Co., Ltd.0.27%$60.013.31%
300008.SZBestway Marine & Energy Technology Co.,Ltd0.27%$0.0212.60%
300083.SZGuangdong Create Century Intelligent Equipment Group Corporation Limited0.27%$0.0210.50%
300346.SZJiangsu Nata Opto-electronic Material Co., Ltd.0.27%$0.1226.27%
300843.SZShenglan Technology Co., Ltd.0.27%$0.1419.25%
300882.SZZhejiang Wellsun Intelligent Technology Co.,Ltd.0.27%$0.058.19%
600363.SSJiangxi Lianchuang Opto-Electronic Science&Technology Co.,Ltd0.27%$0.1725.58%
600366.SSNingbo Yunsheng Co., Ltd.0.27%$0.0413.40%
600456.SSBaoji Titanium Industry Co., Ltd.0.27%$0.1114.77%
601218.SSJiangsu JIXIN Wind Energy Technology Co., Ltd.0.27%$0.0112.28%
605268.SSWangli Security & Surveillance Product Co., Ltd0.27%$0.037.19%
688182.SSJiangsu Cai Qin Technology Co., Ltd0.27%$0.0834.37%
688329.SSSuzhou Iron Technology CO.,LTD.0.27%$0.0650.64%
688618.SS3onedata Co., Ltd.0.27%$0.0721.88%
688690.SSSuzhou Nanomicro Technology Co., Ltd.0.27%$0.0719.10%
DELTA-R.BKDelta Electronics (Thailand) Public Company Limited0.27%$0.4629.11%
NVS.JONovus Holdings Limited0.27%$1.5485.07%
ONEX.TOOnex Corporation0.27%$0.304.84%
RUSTOMJEE.BOKeystone Realtors Limited0.27%$1.4818.36%
SMDS.LDS Smith Plc0.27%$1.5560.43%
SMKM.JKPT Sumber Mas Konstruksi Tbk0.27%$0.5019.42%
000096.SZShenzhen Guangju Energy Co., Ltd.0.26%$0.0322.97%
000156.SZWasu Media Holding Co.,Ltd0.26%$0.026.88%
000410.SZShenyang Machine Tool Co., Ltd.0.26%$0.0222.24%
000530.SZBingshan Refrigeration & Heat Transfer Technologies Co., Ltd.0.26%$0.0215.08%
002270.SZHuaming Power Equipment Co.,Ltd0.26%$0.078.20%
002952.SZYes Optoelectronics (Group) Co., Ltd.0.26%$0.0565.79%
1051.HKG-Resources Group Limited0.26%$0.0311.60%
298040.KSHyosung Heavy Industries Corporation0.26%$4,837.3112.67%
300102.SZXiamen Changelight Co., Ltd.0.26%$0.0747.47%
300468.SZShenzhen Forms Syntron Information Co., Ltd.0.26%$0.1064.92%
300540.SZSichuan Shudao Equipment & Technology Co.,Ltd.0.26%$0.0517.27%
300759.SZPharmaron Beijing Co., Ltd.0.26%$0.078.57%
301138.SZGuangzhou Huayan Precision Machinery Co.,Ltd.0.26%$0.1010.17%
600186.SSLotus Health Group Company0.26%$0.029.43%
600195.SSChina Animal Husbandry Industry Co., Ltd.0.26%$0.029.84%
600731.SSHunan Haili Chemical Industry Co., Ltd.0.26%$0.023.68%
601020.SSTibet Huayu Mining Co., Ltd.0.26%$0.076.36%
603657.SSJinhua Chunguang Technology Co.,Ltd0.26%$0.0872.25%
688018.SSEspressif Systems (Shanghai) Co., Ltd.0.26%$0.4414.89%