First Internet Bancorp (INBK) Scheduled to Post Quarterly Earnings on Wednesday

First Internet Bancorp (NASDAQ:INBK) is set to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.81 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Wednesday, July 24th. The bank reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. First Internet Bancorp had a net margin of 6.12% and a return on equity of 5.23%. The company had revenue of $81.99 million during the quarter, compared to analyst estimates of $30.55 million. During the same period in the previous year, the business posted $0.44 earnings per share. 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 Down 3.1 %

INBK opened at $36.13 on Tuesday. The firm’s 50 day simple moving average is $34.57 and its two-hundred day simple moving average is $32.25. The company has a market capitalization of $312.74 million, a PE ratio of 19.02 and a beta of 0.66. First Internet Bancorp has a 1-year low of $14.11 and a 1-year high of $39.46. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.83.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. First Internet Bancorp’s dividend payout ratio is currently 12.63%.

Analysts Set New Price Targets

Several research firms have issued reports on INBK. Craig Hallum boosted their price target on First Internet Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler increased their target price on shares of First Internet Bancorp from $30.00 to $40.50 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of First Internet Bancorp from $36.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, Hovde Group increased their price objective on shares of First Internet Bancorp from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, First Internet Bancorp has an average rating of “Hold” and a consensus price target of $42.88.

First Internet Bancorp Company Profile

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