First Internet Bancorp (NASDAQ:INBK) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, January 17th. Analysts expect First Internet Bancorp to post earnings of $0.61 per share for the quarter.
First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. The company had revenue of $17.33 million during the quarter, compared to the consensus estimate of $16.90 million. First Internet Bancorp had a net margin of 17.60% and a return on equity of 8.87%. On average, analysts expect First Internet Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of First Internet Bancorp (NASDAQ INBK) opened at $39.25 on Wednesday. The company has a market cap of $330.13, a PE ratio of 16.42 and a beta of 0.13. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 1.82. First Internet Bancorp has a 1-year low of $25.48 and a 1-year high of $41.20.
An institutional investor recently raised its position in First Internet Bancorp stock. The Manufacturers Life Insurance Company boosted its stake in First Internet Bancorp (NASDAQ:INBK) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,144 shares of the bank’s stock after purchasing an additional 159 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of First Internet Bancorp worth $144,000 at the end of the most recent quarter. 63.87% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. BidaskClub downgraded shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Maxim Group raised their price target on shares of First Internet Bancorp from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Hovde Group raised their price target on shares of First Internet Bancorp from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $44.00 price target on shares of First Internet Bancorp in a report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.75.
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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.
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