First Internet Bancorp (INBK) to Release Quarterly Earnings on Wednesday

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

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

Shares of INBK opened at $32.18 on Monday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $32.27 and a two-hundred day moving average price of $25.75. The firm has a market capitalization of $278.68 million, a P/E ratio of 27.50 and a beta of 0.72. First Internet Bancorp has a 52 week low of $9.68 and a 52 week high of $35.72.

First Internet Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, March 27th. First Internet Bancorp’s dividend payout ratio is presently 20.51%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On First Internet Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in First Internet Bancorp by 0.6% during the fourth 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 during the period. Goldman Sachs Group Inc. lifted its position in shares of First Internet Bancorp by 101.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,376 shares of the bank’s stock worth $493,000 after acquiring an additional 10,248 shares in the last quarter. Barclays PLC lifted its position in shares of First Internet Bancorp by 13.9% during the fourth quarter. Barclays PLC now owns 17,467 shares of the bank’s stock worth $422,000 after acquiring an additional 2,125 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of First Internet Bancorp during the fourth quarter worth $567,000. Finally, Northern Trust Corp lifted its position in shares of First Internet Bancorp by 10.1% during the fourth quarter. Northern Trust Corp now owns 20,592 shares of the bank’s stock worth $498,000 after acquiring an additional 1,896 shares in the last quarter. 65.46% of the stock is owned by institutional investors.

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.