First Internet Bancorp (INBK) Scheduled to Post Earnings on Wednesday
First Internet Bancorp (NASDAQ:INBK) is scheduled to release its earnings data after the market closes on Wednesday, October 18th. Analysts expect First Internet Bancorp to post earnings of $0.63 per share for the quarter.
First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. First Internet Bancorp had a net margin of 16.58% and a return on equity of 8.91%. The company had revenue of $15.71 million during the quarter, compared to the consensus estimate 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.
First Internet Bancorp (NASDAQ INBK) opened at 34.65 on Wednesday. The firm has a 50 day moving average of $31.64 and a 200-day moving average of $29.41. The company has a market capitalization of $225.68 million, a P/E ratio of 15.60 and a beta of -0.06. First Internet Bancorp has a 52 week low of $23.93 and a 52 week high of $35.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.69%. First Internet Bancorp’s payout ratio is currently 10.76%.
In other First Internet Bancorp news, Director Jerry L. Williams bought 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were acquired at an average cost of $30.05 per share, for a total transaction of $63,105.00. Following the transaction, the director now directly owns 35,836 shares in the company, valued at $1,076,871.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David B. Becker bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were acquired at an average price of $30.02 per share, for a total transaction of $150,100.00. The disclosure for this purchase can be found here. 7.60% of the stock is owned by company insiders.
An institutional investor recently raised its position in First Internet Bancorp stock. The Manufacturers Life Insurance Company increased its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,144 shares of the bank’s stock after buying 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. 45.00% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on INBK. Zacks Investment Research downgraded shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $36.00 target price on shares of First Internet Bancorp in a research report on Thursday, July 27th.
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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