Basis: FMP quote market capitalization / book value attributable to common shareholders (matching reported total stockholders equity minus preferred stock). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the P/B ratio high or low?
The P/B ratio of 1.40 is in line with its estimated 5-year average of 1.36, around the middle of its estimated 5-year range (0.89–1.82).
As of 2026-10-06T17:22:05.921Z. 2.21% below its estimated 12-month average of 1.43.
Calculation as of: 2026-10-06T17:22:05.921Z.
Quote observation: 2026-10-06T17:19:49.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 160c3e541b1446bdb77b317c5c0af24eb4bc5d5ec8c5f36b602459c4e917bec5
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-10-05.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
PB RATIO
1.40
PB RATIO AVG TTM
1.43
PB RATIO AVG 3Y
1.45
PB RATIO AVG 5Y
1.36
PB RATIO AVG 10Y
1.43
PB RATIO AVG 15Y
1.43
PB RATIO AVG 20Y
1.34
CURRENT VS TTM AVG
-2.21%
CURRENT VS 3Y AVG
-3.26%
CURRENT VS 5Y AVG
+2.96%
CURRENT VS 10Y AVG
-2.26%
CURRENT VS 15Y AVG
-1.87%
CURRENT VS 20Y AVG
+4.58%
SECTOR MEDIAN · FINANCIAL SERVICES
1.31
median of 628 covered companies
CURRENT VS SECTOR MEDIAN
+6.87%
vs the sector median at left
Independent Bank Corporation
Market Cap
$740.17M
PB Ratio
1.40
TTM Avg
1.43
3Y Avg
1.45
5Y Avg
1.36
Market Cap
$733.89M
PB Ratio
0.68
TTM Avg
0.73
3Y Avg
0.91
5Y Avg
0.91
Market Cap
$730.88M
PB Ratio
1.32
TTM Avg
1.19
3Y Avg
1.11
5Y Avg
1.29
Market Cap
$727.94M
PB Ratio
0.71
TTM Avg
2.47
3Y Avg
2.41
5Y Avg
2.41
Market Cap
$726.11M
PB Ratio
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$723.98M
PB Ratio
0.98
TTM Avg
0.97
3Y Avg
1.00
5Y Avg
0.99
| NAME | MARKET CAP | PB RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Independent Bank Corporation (IBCP) | $740.17M | 1.40 | 1.43 | 1.45 | 1.36 |
| PRA Group, Inc. (PRAA)vs › | $743.37M | 0.71 | 0.65 | 0.68 | 0.88 |
| Carlyle Secured Lending, Inc. (CGBD)vs › | $733.89M | 0.68 | 0.73 | 0.91 | 0.91 |
| OFS Credit Company, Inc. (OCCIM)vs › | $733.43M | N/A | N/A | N/A | N/A |
| Washington Trust Bancorp, Inc. (WASH)vs › | $730.88M | 1.32 | 1.19 | 1.11 | 1.29 |
| Armada Acquisition Corp. II (XRPN)vs › | $730.59M | N/A | N/A | N/A | N/A |
| New Mountain Finance Corporation 8.250% Notes due 2028 (NMFCZ)vs › | $727.94M | 0.71 | 2.47 | 2.41 | 2.41 |
| WisdomTree Artificial Intelligence and Innovation Fund (WTAI)vs › | $726.11M | N/A | N/A | N/A | N/A |
| Fidus Investment Corporation (FDUS)vs › | $723.98M | 0.98 | 0.97 | 1.00 | 0.99 |
| Shore Bancshares, Inc. (SHBI)vs › | $762.13M | 1.24 | 1.12 | 0.94 | 0.95 |
At 1.40, P/B is near its estimated 20-year median — higher than 55% of readings in its estimated 20-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 20-year low
0.09
median
1.36
estimated 20-year high
7.02
P/B Ratio
1.40
Market Price / Book Value per Share
PB Ratio = Market Cap / (Total Shareholders' Equity − Preferred Stock)
The price-to-book ratio compares market capitalization to book value attributable to common shareholders (total equity minus preferred stock). Lower values can indicate a cheaper valuation relative to net assets.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | PB RATIO |
|---|---|
| 2026-10-05 | 1.41 |
| 2026-10-02 | 1.43 |
| 2026-10-01 | 1.40 |
| 2026-09-30 | 1.39 |
| 2026-09-29 | 1.39 |
| 2026-09-28 | 1.40 |
| 2026-09-25 | 1.41 |
| 2026-09-24 | 1.40 |
| 2026-09-23 | 1.39 |
| 2026-09-22 | 1.40 |
| 2026-09-21 | 1.41 |
| 2026-09-18 | 1.43 |
| 2026-09-17 | 1.43 |
| 2026-09-16 | 1.44 |
| 2026-09-15 | 1.47 |
| 2026-09-14 | 1.46 |
| 2026-09-11 | 1.46 |
| 2026-09-10 | 1.46 |
| 2026-09-09 | 1.45 |
| 2026-09-08 | 1.46 |
| 2026-09-04 | 1.47 |
| 2026-09-03 | 1.46 |
| 2026-09-02 | 1.45 |
| 2026-09-01 | 1.42 |
| 2026-08-31 | 1.44 |
| 2026-08-28 | 1.45 |
| 2026-08-27 | 1.44 |
| 2026-08-26 | 1.45 |
| 2026-08-25 | 1.45 |
| 2026-08-24 | 1.46 |
| 2026-08-21 | 1.46 |
| 2026-08-20 | 1.47 |
| 2026-08-19 | 1.45 |
| 2026-08-18 | 1.50 |
| 2026-08-17 | 1.51 |
| 2026-08-14 | 1.51 |
| 2026-08-13 | 1.51 |
| 2026-08-12 | 1.51 |
| 2026-08-11 | 1.50 |
| 2026-08-10 | 1.49 |
| 2026-08-07 | 1.50 |
| 2026-08-06 | 1.52 |
| 2026-08-05 | 1.56 |
| 2026-08-04 | 1.56 |
| 2026-08-03 | 1.57 |
| 2026-07-31 | 1.55 |
| 2026-07-30 | 1.55 |
| 2026-07-29 | 1.57 |
| 2026-07-28 | 1.57 |
| 2026-07-27 | 1.53 |
| 2026-07-24 | 1.53 |
| 2026-07-23 | 1.49 |
| 2026-07-22 | 1.47 |
| 2026-07-21 | 1.49 |
| 2026-07-20 | 1.49 |
| 2026-07-17 | 1.48 |
| 2026-07-16 | 1.54 |
| 2026-07-15 | 1.48 |
| 2026-07-14 | 1.46 |
| 2026-07-13 | 1.47 |
| 2026-07-10 | 1.46 |
| 2026-07-09 | 1.44 |
| 2026-07-08 | 1.43 |
| 2026-07-07 | 1.46 |
| 2026-07-06 | 1.46 |
| 2026-07-02 | 1.47 |
| 2026-07-01 | 1.49 |
| 2026-06-30 | 1.47 |
| 2026-06-29 | 1.47 |
| 2026-06-26 | 1.47 |
| 2026-06-25 | 1.45 |
| 2026-06-24 | 1.45 |
| 2026-06-23 | 1.43 |
| 2026-06-22 | 1.39 |
| 2026-06-18 | 1.40 |
| 2026-06-17 | 1.39 |
| 2026-06-16 | 1.41 |
| 2026-06-15 | 1.41 |
| 2026-06-12 | 1.44 |
| 2026-06-11 | 1.44 |
| 2026-06-10 | 1.44 |
| 2026-06-09 | 1.43 |
| 2026-06-08 | 1.41 |
| 2026-06-05 | 1.41 |
| 2026-06-04 | 1.39 |
| 2026-06-03 | 1.35 |
| 2026-06-02 | 1.39 |
| 2026-06-01 | 1.37 |
| 2026-05-29 | 1.40 |
| 2026-05-28 | 1.39 |
| 2026-05-27 | 1.39 |
| 2026-05-26 | 1.40 |
| 2026-05-22 | 1.38 |
| 2026-05-21 | 1.39 |
| 2026-05-20 | 1.37 |
| 2026-05-19 | 1.35 |
| 2026-05-18 | 1.36 |
| 2026-05-15 | 1.33 |
| 2026-05-14 | 1.36 |
| 2026-05-13 | 1.35 |
| 2026-05-12 | 1.37 |
| 2026-05-11 | 1.37 |
| 2026-05-08 | 1.41 |
| 2026-05-07 | 1.38 |
| 2026-05-06 | 1.40 |
| 2026-05-05 | 1.39 |
| 2026-05-04 | 1.37 |
| 2026-05-01 | 1.39 |
| 2026-04-30 | 1.38 |
| 2026-04-29 | 1.39 |
| 2026-04-28 | 1.42 |
| 2026-04-27 | 1.39 |
| 2026-04-24 | 1.39 |
| 2026-04-23 | 1.38 |
| 2026-04-22 | 1.39 |
| 2026-04-21 | 1.39 |
| 2026-04-20 | 1.43 |
| 2026-04-17 | 1.44 |
| 2026-04-16 | 1.41 |
| 2026-04-15 | 1.42 |
| 2026-04-14 | 1.44 |
| 2026-04-13 | 1.44 |
| 2026-04-10 | 1.44 |
| 2026-04-09 | 1.45 |
| 2026-04-08 | 1.43 |
| 2026-04-07 | 1.40 |
| 2026-04-06 | 1.40 |
| 2026-04-02 | 1.39 |
| 2026-04-01 | 1.39 |
| 2026-03-31 | 1.38 |
| 2026-03-30 | 1.36 |
| 2026-03-27 | 1.34 |
| 2026-03-26 | 1.35 |
| 2026-03-25 | 1.36 |
| 2026-03-24 | 1.36 |
| 2026-03-23 | 1.36 |
| 2026-03-20 | 1.33 |
| 2026-03-19 | 1.36 |
| 2026-03-18 | 1.35 |
| 2026-03-17 | 1.37 |
| 2026-03-16 | 1.39 |
| 2026-03-13 | 1.38 |
| 2026-03-12 | 1.37 |
| 2026-03-11 | 1.37 |
| 2026-03-10 | 1.40 |
| 2026-03-09 | 1.40 |
| 2026-03-06 | 1.46 |
| 2026-03-05 | 1.48 |
| 2026-03-04 | 1.51 |
| 2026-03-03 | 1.50 |
| 2026-03-02 | 1.51 |
| 2026-02-27 | 1.48 |
| 2026-02-26 | 1.53 |
| 2026-02-25 | 1.53 |
| 2026-02-24 | 1.51 |
| 2026-02-23 | 1.51 |
| 2026-02-20 | 1.57 |
| 2026-02-19 | 1.56 |
| 2026-02-18 | 1.55 |
| 2026-02-17 | 1.56 |
| 2026-02-13 | 1.56 |
| 2026-02-12 | 1.53 |
| 2026-02-11 | 1.53 |
| 2026-02-10 | 1.53 |
| 2026-02-09 | 1.54 |
| 2026-02-06 | 1.56 |
| 2026-02-05 | 1.56 |
| 2026-02-04 | 1.56 |
| 2026-02-03 | 1.55 |
| 2026-02-02 | 1.55 |
| 2026-01-30 | 1.50 |
| 2026-01-29 | 1.49 |
| 2026-01-28 | 1.45 |
| 2026-01-27 | 1.49 |
| 2026-01-26 | 1.49 |
| 2026-01-23 | 1.48 |
| 2026-01-22 | 1.51 |
| 2026-01-21 | 1.49 |
| 2026-01-20 | 1.42 |
| 2026-01-16 | 1.44 |
| 2026-01-15 | 1.44 |
| 2026-01-14 | 1.41 |
| 2026-01-13 | 1.39 |
| 2026-01-12 | 1.40 |
| 2026-01-09 | 1.41 |
| 2026-01-08 | 1.43 |
| 2026-01-07 | 1.39 |
| 2026-01-06 | 1.40 |
| 2026-01-05 | 1.40 |
| 2026-01-02 | 1.37 |
| 2025-12-31 | 1.39 |
| 2025-12-30 | 1.40 |
| 2025-12-29 | 1.42 |
| 2025-12-26 | 1.41 |
| 2025-12-24 | 1.43 |
| 2025-12-23 | 1.43 |
| 2025-12-22 | 1.44 |
| 2025-12-19 | 1.45 |
| 2025-12-18 | 1.49 |
| 2025-12-17 | 1.49 |
| 2025-12-16 | 1.50 |
| 2025-12-15 | 1.50 |
| 2025-12-12 | 1.48 |
| 2025-12-11 | 1.49 |
| 2025-12-10 | 1.47 |
| 2025-12-09 | 1.43 |
| 2025-12-08 | 1.43 |
| 2025-12-05 | 1.43 |
| 2025-12-04 | 1.44 |
| 2025-12-03 | 1.45 |
| 2025-12-02 | 1.41 |
| 2025-12-01 | 1.43 |
| 2025-11-28 | 1.39 |
| 2025-11-26 | 1.39 |
| 2025-11-25 | 1.41 |
| 2025-11-24 | 1.34 |
| 2025-11-21 | 1.34 |
| 2025-11-20 | 1.30 |
| 2025-11-19 | 1.29 |
| 2025-11-18 | 1.28 |
| 2025-11-17 | 1.28 |
| 2025-11-14 | 1.32 |
| 2025-11-13 | 1.32 |
| 2025-11-12 | 1.33 |
| 2025-11-11 | 1.32 |
| 2025-11-10 | 1.33 |
| 2025-11-07 | 1.31 |
| 2025-11-06 | 1.30 |
| 2025-11-05 | 1.38 |
| 2025-11-04 | 1.35 |
| 2025-11-03 | 1.36 |
| 2025-10-31 | 1.35 |
| 2025-10-30 | 1.38 |
| 2025-10-29 | 1.37 |
| 2025-10-28 | 1.41 |
| 2025-10-27 | 1.42 |
| 2025-10-24 | 1.44 |
| 2025-10-23 | 1.40 |
| 2025-10-22 | 1.44 |
| 2025-10-21 | 1.43 |
| 2025-10-20 | 1.44 |
| 2025-10-17 | 1.39 |
| 2025-10-16 | 1.38 |
| 2025-10-15 | 1.41 |
| 2025-10-14 | 1.41 |
| 2025-10-13 | 1.37 |
| 2025-10-10 | 1.36 |
| 2025-10-09 | 1.39 |
| 2025-10-08 | 1.39 |
| 2025-10-07 | 1.40 |
| 2025-10-06 | 1.41 |
| 2025-10-03 | 1.38 |
| 2025-10-02 | 1.35 |
| 2025-10-01 | 1.37 |
| 2025-09-30 | 1.38 |
| 2025-09-29 | 1.38 |
| 2025-09-26 | 1.41 |
| 2025-09-25 | 1.40 |
| 2025-09-24 | 1.41 |
| 2025-09-23 | 1.41 |
Showing the most recent 260 of 5,030 data points. The chart above shows the full history.