First Internet Bancorp (INBK) Receives $43.67 Consensus Target Price from Brokerages
First Internet Bancorp (NASDAQ:INBK) has received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.67.
Several equities research analysts recently weighed in on INBK shares. TheStreet raised First Internet Bancorp from a “c+” rating to a “b” rating in a report on Thursday, November 16th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $44.00 price objective on shares of First Internet Bancorp in a report on Friday, October 20th. Hovde Group lifted their price objective on First Internet Bancorp from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Zacks Investment Research raised First Internet Bancorp from a “sell” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, November 21st. Finally, Maxim Group lifted their price objective on First Internet Bancorp from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 23rd.
In related news, Chairman David B. Becker bought 5,000 shares of First Internet Bancorp stock in a transaction on Wednesday, September 20th. The stock was acquired at an average price of $30.02 per share, with a total value of $150,100.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry L. Williams bought 2,100 shares of First Internet Bancorp stock in a transaction on Wednesday, September 20th. The shares were bought at an average cost of $30.05 per share, with a total value of $63,105.00. Following the acquisition, the director now directly owns 35,836 shares in the company, valued at $1,076,871.80. The disclosure for this purchase can be found here. 7.60% of the stock is owned by insiders.
Shares of First Internet Bancorp (NASDAQ INBK) traded up $1.00 on Wednesday, reaching $39.00. The company had a trading volume of 208,571 shares, compared to its average volume of 31,813. First Internet Bancorp has a 52 week low of $25.48 and a 52 week high of $41.20. The stock has a market cap of $319.62 and a price-to-earnings ratio of 15.90. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82.
First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings data on Friday, October 20th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. First Internet Bancorp had a return on equity of 8.87% and a net margin of 17.60%. The company had revenue of $17.33 million during the quarter, compared to analyst estimates of $16.90 million. sell-side analysts predict that First Internet Bancorp will post 2.36 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This report was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/first-internet-bancorp-inbk-receives-43-67-consensus-target-price-from-brokerages/1768498.html.
First Internet Bancorp Company Profile
First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.
Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.