First Internet Bancorp (INBK) to Release Earnings on Wednesday

by · The Cerbat Gem

First Internet Bancorp (NASDAQ:INBK – Get Free Report) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.81 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $81.99 million for the quarter, compared to the consensus estimate of $30.55 million. First Internet Bancorp had a return on equity of 5.23% and a net margin of 6.12%. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts expect First Internet Bancorp to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Internet Bancorp Stock Down 3.1 %

Shares of INBK opened at $36.13 on Tuesday. The business’s 50 day simple moving average is $34.57 and its 200-day simple moving average is $32.25. First Internet Bancorp has a 1 year low of $14.11 and a 1 year high of $39.46. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $312.74 million, a price-to-earnings ratio of 19.02 and a beta of 0.66.

First Internet Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s payout ratio is 12.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INBK. Keefe, Bruyette & Woods boosted their target price on shares of First Internet Bancorp from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on First Internet Bancorp from $30.00 to $40.50 and gave the company a “neutral” rating in a research report on Monday, July 29th. Hovde Group lifted their target price on First Internet Bancorp from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Craig Hallum increased their price target on First Internet Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Internet Bancorp has a consensus rating of “Hold” and a consensus target price of $42.88.

Read Our Latest Research Report on First Internet Bancorp

About First Internet Bancorp

(Get Free Report)

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.

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