First Internet Bancorp (NASDAQ: INBK – Get Free Report ) is scheduled to report its quarterly earnings results after the market close on Wednesday, April 24th. Analysts expect First Internet Bancorp to post earnings of $0.55 per share for the quarter. Those interested in participating in the company’s earnings call can do so using this link .
First Internet Bancorp (NASDAQ: INBK – Get Free Report ) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24. The business had revenue of $27.21 million in the quarter, compared with consensus estimates of $24.5 million. First Internet Bancorp’s net profit margin was 3.81% and its return on equity was 4.56%. Analysts on average expect First Internet Bancorp to earn $3 per share this fiscal year and $4 per share next fiscal year.
First Internet Bank shares rose 0.1%
INBK stock opened Wednesday at $31.08. The stock has a market capitalization of $269.15 million, a P/E ratio of 26.56, and a beta of 0.72. The stock has a 50-day moving average price of $32.28 and a 200-day moving average price of $25.43. First Internet Bancorp has a one-year low of $9.68 and a one-year high of $35.72. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04, and a quick ratio of 1.04.
First Internet Bank announces dividend payment
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.06 per share. The ex-dividend date for this dividend is Wednesday, March 27. This translates into an annualized dividend of $0.24 and a dividend yield of 0.77%. First Internet Bancorp’s current dividend payout ratio is 20.51%.
Hedge funds get involved in the first Internet bank
Institutional investors and hedge funds have recently revised their holdings in the company. Russell Investments Group Ltd. purchased a new stake in shares of First Internet Bancorp during the first quarter worth approximately $38,000. Tower Research Capital LLC TRC increased its holdings in shares of First Internet Bancorp by 148.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,267 shares of the bank’s stock valued at $42,000 after acquiring an additional 758 shares during the last quarter. Point72 Middle East FZE purchased a new position in First Internet Bancorp during the second quarter worth approximately $51,000. Barclays increased its holdings in First Internet Bancorp by 521.7% in the fourth quarter. Barclays PLC now owns 2,325 shares of the bank worth $56,000 after purchasing an additional 1,951 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of First Internet Bancorp by 5,450.0% during the fourth quarter. UBS Group AG now owns 2,442 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,398 shares during the last quarter. 65.46% of the stock is currently held by hedge funds and other institutional investors.
Wall Street analysts comment
A number of research firms have recently weighed in on INBK. Keefe, Bruyette & Woods raised their target price on shares of First Internet Bancorp from $29.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. StockNews.com raised shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.00, according to MarketBeat.
Read our latest research report on INBK
First Internet Bank Company Profile
(Get your free report)
First Internet Bancorp is the bank holding company of First Internet Bank of Indiana, which provides commercial, small business, consumer and municipal banking products and services to individual and business customers in the United States. The company accepts non-interest-bearing and interest-bearing demand deposits, business deposits, savings, money market, bank-as-a-service brokerage deposit accounts, and certificates of deposit.
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