First Internet Bancorp (INBK) Scheduled to Post Quarterly Earnings on Wednesday
First Internet Bancorp (NASDAQ:INBK) is set to announce its earnings results after the market closes on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.63 per share for the quarter.
First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.06. First Internet Bancorp had a return on equity of 8.91% and a net margin of 16.58%. The company had revenue of $15.71 million during the quarter, compared to analysts’ expectations of $15.00 million. On average, analysts expect First Internet Bancorp to post $2.30 EPS for the current fiscal year and $3.08 EPS for the next fiscal year.
Shares of First Internet Bancorp (NASDAQ INBK) opened at 34.55 on Tuesday. The firm has a market capitalization of $225.02 million, a price-to-earnings ratio of 15.56 and a beta of -0.06. First Internet Bancorp has a one year low of $23.93 and a one year high of $35.20. The firm has a 50-day moving average price of $32.01 and a 200 day moving average price of $29.52.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, September 28th. First Internet Bancorp’s dividend payout ratio (DPR) is 10.76%.
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INBK has been the subject of a number of analyst reports. Zacks Investment Research downgraded First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $36.00 target price on shares of First Internet Bancorp in a research note on Monday, June 26th.
In other First Internet Bancorp news, Chairman David B. Becker bought 5,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was acquired at an average cost of $30.02 per share, with a total value of $150,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jerry L. Williams bought 2,100 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were acquired at an average cost of $30.05 per share, with a total value of $63,105.00. Following the completion of the purchase, the director now owns 35,836 shares in the company, valued at approximately $1,076,871.80. The disclosure for this purchase can be found here. Corporate insiders own 7.60% of the company’s stock.
A hedge fund recently raised its stake in First Internet Bancorp stock. State Street Corp lifted its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,075 shares of the bank’s stock after buying an additional 6,924 shares during the period. State Street Corp owned about 1.20% of First Internet Bancorp worth $2,189,000 at the end of the most recent reporting period. Institutional investors own 45.00% of the company’s stock.
About First Internet Bancorp
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.
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