Independent Bank (INDB) vs NBT Bancorp (NBTB)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
NBT Bancorp (NBTB) has outperformed Independent Bank (INDB) over the past year, gaining 22.8% versus a gain of 11.0%. Over five years, NBTB leads with a +37.8% price change compared with -4.1% for INDB. Independent Bank is the larger company by market cap ($3.65 billion vs $2.63 billion), about 1.4 times the size.
On valuation, Independent Bank trades at a lower forward P/E (9.4x vs 11.1x for NBT Bancorp). Independent Bank offers the higher dividend yield (3.19% vs 2.93%). NBT Bancorp converts more of its revenue into profit, with a net margin of 92.5% 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 | INDB | NBTB |
|---|---|---|
| Share price | $77.12 | $50.53 |
| Market cap | $3.65B | $2.63B |
| 1-day change | -1.39% | +0.70% |
| YTD return | +5.53% | +21.70% |
| 1-year return | +10.96% | +22.76% |
| 5-year return | -4.10% | +37.80% |
| P/E ratio (TTM) | 13.82 | 12.35 |
| Forward P/E | 9.36 | 11.07 |
| EPS (TTM) | $5.58 | $4.09 |
| Dividend yield | 3.19% | 2.93% |
| Annual dividend | $2.46 | $1.48 |
| Revenue (latest FY) | $857.52M | $182.95M |
| Revenue growth (YoY) | +24.32% | +10.40% |
| Net income (latest FY) | $205.12M | $169.24M |
| Net margin | 23.92% | 92.50% |
| 52-week high | $87.50 | $54.50 |
| 52-week low | $63.33 | $39.20 |
| Distance from 52-week high | -11.86% | -7.28% |
| Analyst consensus | buy | hold |
| Avg. price target upside | +21.15% | +13.79% |
| Average volume | 358.03K | 348.49K |
| Shares outstanding | 47.37M | 51.96M |
| Employees | 2,294 | 2,303 |
| Sector | Financial Services | Financial Services |
| Industry | Banks - Regional | Banks - Regional |
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
- NBTB has outperformed INDB by 11.8 percentage points over the past year.
- NBT Bancorp is more profitable, keeping 92.5 cents of every revenue dollar as net income versus 23.9 cents for Independent Bank.
- Independent Bank grew revenue faster in its latest fiscal year (+24.32% vs +10.40%).
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.
Financial Services · Banks - Regional · 2,294 employees
About NBT Bancorp
NBTB stock →NBT Bancorp Inc., a financial holding company, provides personal and commercial banking, retail banking, and wealth management services in the United States. It operates through Banking, Retirement Plan Administration, and All Other segments.
Financial Services · Banks - Regional · 2,303 employees
INDB vs NBTB FAQ
Which is bigger, Independent Bank or NBT Bancorp?
Independent Bank (INDB) is larger, with a market capitalization of $3.65B compared with $2.63B for NBT Bancorp (NBTB).
Which stock has performed better over the past year, INDB or NBTB?
NBTB returned +22.76% over the past 12 months, compared with +10.96% for INDB (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, INDB or NBTB?
NBTB has the lower trailing P/E at 12.4, versus 13.8 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, Independent Bank or NBT Bancorp?
Independent Bank has the higher yield at 3.19%, compared with 2.93% for NBT Bancorp.
Are Independent Bank and NBT Bancorp in the same industry?
Yes. Both are classified in the Banks - Regional industry within the Financial Services sector.