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4 Reasons to Buy Independent Bank (INDB) Stock Right Now

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Independent Bank Corp. (INDB - Free Report) is a solid bet now, backed by its organic growth strategies that have placed it well for the future. Also, a strong capital and liquidity profile will support its profitability.

Further, analysts seem to be optimistic about the company’s prospects as the stock is witnessing upward estimate revisions. Over the past 30 days, the Zacks Consensus Estimate for the current year has risen 1.2% to $3.36. Backed by these upward estimate revisions, the company currently carries a Zacks Rank #2 (Buy).

Also, its shares have rallied 30.8% over the past year, outperforming the industry’s gain of 18.7%.



Why the Stock is an Attractive Choice?

Earnings Strength: Independent Bank has recorded an earnings growth rate of 17.3% over the last three to five years. Continuing with the earnings momentum, the earnings growth rate for the current year is expected to be 15.8% compared with the industry average of 10%.

Revenue Growth: Organic growth remains strong at Independent Bank. Revenues witnessed a compound annual growth rate of 6.3% over the last five years (2012-2016). Further, the top line is expected to increase 11.1% in 2017 and 3.9% for 2018.

Superior Return on Equity: Independent Bank has a return on equity of 9.12% compared with the industry average of 8.25%. This indicates that the company reinvests more efficiently compared to its peers.

Strong Leverage: Independent Bank has debt/equity ratio of 0.18 compared with the industry’s 0.55. This reflects relatively strong financial health of the company, which will help it perform better than its peers under a dynamic business environment.

Other Stocks to Consider

Some other stocks in the same space worth a look are FB Financial Corporation (FBK - Free Report) , First Commonwealth Financial Corporation (FCF - Free Report) and Salisbury Bancorp, Inc. . All the stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

FB Financial’s earnings estimates were revised 2.7% upward for 2017, in the past 30 days. Also, its share price has jumped 65.2% over the past year.

First Commonwealth Financial’s earnings estimates for 2017 were revised 1.3% upward, over the last 30 days. Further in the past year, its shares have jumped 27%.

Salisbury Bancorp witnessed a 2.4% upward earnings estimates revision for the current year, in the past 30 days. Moreover, in the past year, its shares have gained 45%.

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Independent Bank Corp. (INDB) - free report >>

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FB Financial Corporation (FBK) - free report >>