Wall Street brokerages predict that First Internet Bancorp (NASDAQ:INBK – Get Rating) will announce earnings per share (EPS) of $0.90 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for First Internet Bancorp’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.87. First Internet Bancorp reported earnings per share of $1.05 during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The firm is expected to report its next quarterly earnings results on Wednesday, April 20th.
According to Zacks, analysts expect that First Internet Bancorp will report full-year earnings of $4.25 per share for the current year, with EPS estimates ranging from $4.12 to $4.37. For the next year, analysts anticipate that the business will post earnings of $5.99 per share, with EPS estimates ranging from $5.50 to $6.48. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover First Internet Bancorp.
First Internet Bancorp (NASDAQ:INBK – Get Rating) last issued its earnings results on Wednesday, January 19th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. First Internet Bancorp had a return on equity of 13.00% and a net margin of 28.86%. The business had revenue of $31.20 million during the quarter, compared to analyst estimates of $30.45 million. During the same period in the previous year, the company posted $1.12 EPS.
A number of analysts have commented on the company. StockNews.com raised First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler upped their target price on First Internet Bancorp from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, December 9th. Finally, Zacks Investment Research raised First Internet Bancorp from a “hold” rating to a “strong-buy” rating and set a $50.00 target price for the company in a report on Wednesday, March 9th.
INBK traded down $0.08 during midday trading on Friday, reaching $46.63. 83,430 shares of the company were exchanged, compared to its average volume of 40,622. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.02 and a current ratio of 1.05. The company’s fifty day moving average price is $49.07 and its 200 day moving average price is $41.98. The company has a market cap of $451.38 million, a price-to-earnings ratio of 9.67 and a beta of 0.72. First Internet Bancorp has a one year low of $28.05 and a one year high of $53.56.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 18th. Stockholders of record on Friday, December 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Thursday, December 30th. First Internet Bancorp’s dividend payout ratio is presently 4.98%.
In related news, Director Jerry L. Williams sold 1,702 shares of the company’s stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $50.00, for a total value of $85,100.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David B. Becker acquired 16,314 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was purchased at an average price of $44.50 per share, for a total transaction of $725,973.00. The disclosure for this purchase can be found here. 7.20% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of First Internet Bancorp by 15.4% during the fourth quarter. Barclays PLC now owns 11,287 shares of the bank’s stock worth $531,000 after acquiring an additional 1,510 shares in the last quarter. BlackRock Inc. lifted its position in shares of First Internet Bancorp by 5.5% during the fourth quarter. BlackRock Inc. now owns 570,919 shares of the bank’s stock worth $26,856,000 after acquiring an additional 29,983 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of First Internet Bancorp during the fourth quarter worth $263,000. Deutsche Bank AG lifted its position in shares of First Internet Bancorp by 5.6% during the fourth quarter. Deutsche Bank AG now owns 5,652 shares of the bank’s stock worth $266,000 after acquiring an additional 300 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of First Internet Bancorp during the fourth quarter worth $265,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.
About First Internet Bancorp (Get Rating)
First Internet Bancorp engages in the provision of online commercial and retail banking products and services. It offers first-lien residential mortgage loans, consumer loans and credit cards & CRE loans in Indiana and other parts of the midwest in the form of office, retail, industrial, and multifamily loans, with credit tenant lease financing.
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