Wall Street brokers predict that First Internet Bancorp (NASDAQ:INBK – Get a rating) will report earnings per share (EPS) of $0.90 for the current fiscal quarter, Zacks Investment Research reports. Two analysts released earnings estimates for First Internet Bancorp, with the highest EPS estimate of $0.92 and the lowest estimate of $0.87. First Internet Bancorp reported earnings per share of $1.05 in the same quarter last year, suggesting a negative 14.3% year-over-year growth rate. The company is expected to release its next quarterly results on Wednesday, April 20.
According to Zacks, analysts expect First Internet Bancorp to report annual earnings of $4.25 per share for the current year, with EPS estimates ranging from $4.12 to $4.37. For next year, analysts expect the company to post earnings of $5.99 per share, with EPS estimates ranging from $5.50 to $6.48. Zacks EPS calculations are an average average based on a survey of research companies that cover First Internet Bancorp.
First Internet Bank (NASDAQ:INBK – Get a rating) last reported results on Wednesday, January 19. The bank reported EPS of $1.30 for the quarter, beating consensus analyst estimates of $1.27 by $0.03. First Internet Bancorp achieved a return on equity of 13.00% and a net margin of 28.86%. The company posted revenue of $31.20 million in the quarter, versus analyst estimates of $30.45 million. In the same period a year earlier, the company posted EPS of $1.12.
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A number of analysts have commented on the company. StockNews.com upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a report released Thursday. Piper Sandler raised its target price on First Internet Bancorp from $50.00 to $61.00 and gave the company an “overweight” rating in a Thursday, Dec. 9 report. Ultimately, Zacks Investment Research upgraded First Internet Bancorp from a “hold” rating to a “strong-buy” rating and set a target price of $50.00 for the company in a Wednesday, March 9 report.
INBK lost $0.08 in Friday’s midday session, hitting $46.63. 83,430 shares of the company were traded, against an average volume of 40,622. The company has a debt 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 capitalization of $451.38 million, a price-earnings ratio of 9.67 and a beta of 0.72. First Internet Bancorp has a one-year minimum of $28.05 and a one-year maximum of $53.56.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 18. Shareholders of record on Friday, December 31 received a dividend of $0.06. This represents an annualized dividend of $0.24 and a dividend yield of 0.51%. The ex-dividend date was Thursday, December 30. First Internet Bancorp’s dividend payout ratio is currently 4.98%.
Separately, director Jerry L. Williams sold 1,702 shares of the company in a transaction that took place on Tuesday, February 8. The stock was sold at an average price of $50.00, for a total value of $85,100.00. The transaction was disclosed in an SEC filing, available at this hyperlink. Also, CEO David B. Becker acquired 16,314 shares of the company in a transaction that took place on Thursday, March 10. The shares were purchased at an average price of $44.50 per share, for a total transaction of $725,973.00. Disclosure of this purchase can be found here. 7.20% of the shares are currently held by company insiders.
Several large investors have recently bought and sold shares of the company. Barclays PLC raised its position in shares of First Internet Bancorp by 15.4% during the fourth quarter. Barclays PLC now owns 11,287 shares in the bank worth $531,000 after acquiring 1,510 more shares in the last quarter. BlackRock Inc. increased 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 worth $26,856,000 after acquiring 29,983 additional shares last quarter. The Manufacturers Life Insurance Company acquired a new equity stake in First Internet Bancorp during the fourth quarter at a value of $263,000. Deutsche Bank AG increased its position in shares of First Internet Bancorp by 5.6% during the fourth quarter. Deutsche Bank AG now owns 5,652 shares in the bank worth $266,000 after acquiring 300 more shares last quarter. Finally, Parametric Portfolio Associates LLC purchased a new equity stake in First Internet Bancorp during the fourth quarter for $265,000. Hedge funds and other institutional investors own 68.31% of the company’s shares.
About First Internet Bancorp (Get a rating)
First Internet Bancorp provides online commercial and retail banking products and services. It offers residential first mortgages, consumer and credit card loans and CRE loans in Indiana and other parts of the Midwest in the form of office, retail, industrial and multi-family loans, with financing by leasing.
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