Fulton Financial Corporation (FULT) vs Independent Bank Corp. (INDB)
A side-by-side comparison of Fulton Financial Corporation and Independent Bank Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — FULT vs INDB
growth of $100 · dividends reinvested · last 10yFULT vs INDB: by the numbers
- •FULT is the larger company ($4.32B vs $3.86B market cap).
- •FULT trades at the lower trailing earnings multiple (10.82 vs 14.43 P/E), one valuation lens rather than an overall verdict.
- •INDB converts more revenue to profit (21.64% vs 20.71% net margin).
- •INDB grew revenue faster over the past five years (20.53% vs 14.90% CAGR).
- •FULT pays the higher dividend yield (3.35% vs 3.15%).
Metrics side by side
Valuation
| Metric | FULT | INDB |
|---|---|---|
| P/E ratio | 10.82 | 14.43 |
| Forward P/E | 10.80 | 11.15 |
| PEG ratio | 0.77 | 3.52 |
| P/S ratio | 2.26 | 3.08 |
| P/B ratio | 1.19 | 1.10 |
Profitability
| Metric | FULT | INDB |
|---|---|---|
| Operating margin | 25.73% | 22.66% |
| Net margin | 20.71% | 21.64% |
| ROE | 10.39% | 7.73% |
Fulton Financial Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Independent Bank Corp.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Dividends
| Metric | FULT | INDB |
|---|---|---|
| Dividend yield | 3.35% | 3.15% |
| Payout ratio | 36.36% | 45.31% |
Growth (annualized)
| Metric | FULT | INDB |
|---|---|---|
| Revenue CAGR (5Y) | 14.90% | 20.53% |
| EPS CAGR (5Y) | 14.23% | 4.10% |
| Total return CAGR (5Y) | 11.86% | 4.05% |
Frequently asked
- Which has the lower trailing P/E, FULT or INDB?
- FULT has the lower trailing P/E: FULT trades at 10.82 and INDB at 14.43. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, FULT or INDB?
- Over the past five years, INDB grew revenue faster — FULT at a 14.90% CAGR versus INDB at 20.53%.
- Does FULT or INDB pay a bigger dividend?
- FULT yields 3.35% and INDB yields 3.15% based on trailing dividends and the latest price.
- Is FULT or INDB more profitable?
- INDB runs the higher net margin — FULT at 20.71% versus INDB at 21.64%.
- How have FULT and INDB total returns compared?
- Over the past 10 years, FULT delivered 8.58% and INDB delivered 7.05% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Fulton Financial & Independent Bank appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.