First BanCorp. New (FBP) vs Independent Bank (INDB)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
First BanCorp. New (FBP) has outperformed Independent Bank (INDB) over the past year, gaining 22.2% versus a gain of 11.6%. Over five years, FBP leads with a +97.1% price change compared with -2.7% for INDB. First BanCorp. New is the larger company by market cap ($4.04 billion vs $3.70 billion), about 1.1 times the size, while Independent Bank is growing revenue faster (+24.3% vs +2.4%).
On valuation, Independent Bank trades at a lower forward P/E (9.5x vs 10.3x for First BanCorp. New). Independent Bank offers the higher dividend yield (3.15% vs 2.87%). First BanCorp. New converts more of its revenue into profit, with a net margin of 27.5% versus 23.9%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FBP | INDB |
|---|---|---|
| Share price | $26.45 | $78.21 |
| Market cap | $4.04B | $3.70B |
| 1-day change | -1.42% | -1.49% |
| YTD return | +27.59% | +7.02% |
| 1-year return | +22.17% | +11.62% |
| 5-year return | +97.09% | -2.75% |
| P/E ratio (TTM) | 11.26 | 14.22 |
| Forward P/E | 10.27 | 9.48 |
| EPS (TTM) | $2.35 | $5.50 |
| Dividend yield | 2.87% | 3.15% |
| Annual dividend | $0.76 | $2.46 |
| Revenue (latest FY) | $1.26B | $857.52M |
| Revenue growth (YoY) | +2.38% | +24.32% |
| Net income (latest FY) | $344.87M | $205.12M |
| Net margin | 27.48% | 23.92% |
| 52-week high | $29.88 | $87.50 |
| 52-week low | $19.16 | $63.33 |
| Distance from 52-week high | -11.48% | -10.62% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +19.36% | +19.46% |
| Average volume | 1.38M | 357.07K |
| Shares outstanding | 152.67M | 47.37M |
| Employees | 3,218 | 2,294 |
| Sector | Finance | Finance |
| Industry | Major Banks | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- FBP has outperformed INDB by 10.6 percentage points over the past year.
- Independent Bank trades at a higher earnings multiple (14.2x vs 11.3x trailing P/E).
- Independent Bank grew revenue faster in its latest fiscal year (+24.32% vs +2.38%).
About First BanCorp. New
FBP stock →First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides financial products and services to consumers and commercial customers.
Finance · Major Banks · 3,218 employees
About Independent Bank
INDB stock →Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States.
Finance · Major Banks · 2,294 employees
FBP vs INDB FAQ
Which is bigger, First BanCorp. New or Independent Bank?
First BanCorp. New (FBP) is larger, with a market capitalization of $4.04B compared with $3.70B for Independent Bank (INDB).
Which stock has performed better over the past year, FBP or INDB?
FBP returned +22.17% over the past 12 months, compared with +11.62% for INDB (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FBP or INDB?
FBP has the lower trailing P/E at 11.3, versus 14.2 for INDB. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, First BanCorp. New or Independent Bank?
Independent Bank has the higher yield at 3.15%, compared with 2.87% for First BanCorp. New.
Are First BanCorp. New and Independent Bank in the same industry?
Yes. Both are classified in the Major Banks industry within the Finance sector.