First Internet Bancorp (INBK) Set to Announce Earnings on Wednesday

First Internet Bancorp (NASDAQ:INBK) is set to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect First Internet Bancorp to post earnings of $0.55 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Wednesday, January 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.24. First Internet Bancorp had a return on equity of 4.56% and a net margin of 3.81%. The company had revenue of $27.21 million for the quarter, compared to analysts’ expectations of $24.50 million. 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 Price Performance

Shares of INBK opened at $31.08 on Wednesday. The stock has a market cap of $269.15 million, a P/E ratio of 26.56 and a beta of 0.72. The business’s fifty day moving average is $32.28 and its 200 day moving average is $25.43. First Internet Bancorp has a 12-month low of $9.68 and a 12-month high of $35.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

First Internet Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. First Internet Bancorp’s payout ratio is 20.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INBK. Keefe, Bruyette & Woods lifted their price target on First Internet Bancorp from $29.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. StockNews.com raised First Internet Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in First Internet Bancorp by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 621,428 shares of the bank’s stock worth $26,728,000 after acquiring an additional 21,431 shares during the period. BlackRock Inc. grew its stake in shares of First Internet Bancorp by 1.6% in the first quarter. BlackRock Inc. now owns 580,757 shares of the bank’s stock valued at $9,670,000 after buying an additional 9,225 shares in the last quarter. Vanguard Group Inc. grew its stake in First Internet Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 381,390 shares of the bank’s stock valued at $9,226,000 after purchasing an additional 2,100 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in First Internet Bancorp by 20.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 247,625 shares of the bank’s stock worth $4,123,000 after buying an additional 42,560 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in First Internet Bancorp by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 185,813 shares of the bank’s stock worth $3,094,000 after buying an additional 5,883 shares during the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.

About First Internet Bancorp

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, Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.