First Internet Bancorp (INBK) – Research Analysts’ Weekly Ratings Changes

First Internet Bancorp (NASDAQ: INBK) has recently received a number of price target changes and ratings updates:

  • 2/7/2018 – First Internet Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/2/2018 – First Internet Bancorp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 1/30/2018 – First Internet Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/24/2018 – First Internet Bancorp was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 1/22/2018 – First Internet Bancorp was downgraded by analysts at FIG Partners from an “outperform” rating to a “market perform” rating.
  • 1/19/2018 – First Internet Bancorp had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $46.00 price target on the stock. They wrote, “INBK reported 4Q17 core EPS of $0.63, beating consensus of $0.62. It was a strong quarter, in our view, driven by 11.9% (not annualized) linked-quarter growth in loans (despite portfolio loan sales), which in turn produced 6.3% growth in average earning assets. Combined with a 7bp widening of the net interest margin (NIM), net interest income was up 8.2%. The loan growth was mainly attributable to INBK’s new public finance group, as well as single- tenant lease financing. Mortgage banking income was down 40% (due to seasonality/lower mortgage originations and a lower gain-on-sale margin), though partially offset by sales of single-tenant lease financing loans.””
  • 1/18/2018 – First Internet Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “
  • 1/13/2018 – First Internet Bancorp was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 1/12/2018 – First Internet Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “
  • 1/9/2018 – First Internet Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “
  • 12/30/2017 – First Internet Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “

Shares of First Internet Bancorp (NASDAQ INBK) opened at $36.80 on Wednesday. First Internet Bancorp has a twelve month low of $25.48 and a twelve month high of $42.40. The company has a market capitalization of $309.11, a PE ratio of 17.04 and a beta of -0.04. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.01 and a quick ratio of 0.99.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Friday, January 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $17.90 million for the quarter, compared to analysts’ expectations of $19.00 million. First Internet Bancorp had a return on equity of 9.45% and a net margin of 15.99%. analysts predict that First Internet Bancorp will post 3.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.24 annualized dividend and a yield of 0.65%. First Internet Bancorp’s payout ratio is 11.11%.

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.

Leave a Reply