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

First Internet Bancorp (NASDAQ:INBK) is projected to release its earnings data after the market closes on Wednesday, April 23rd. Analysts expect First Internet Bancorp to post earnings of $0.75 per share and revenue of $26.73 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.51). First Internet Bancorp had a net margin of 7.45% and a return on equity of 5.86%. On average, analysts expect First Internet Bancorp to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

First Internet Bancorp Stock Performance

Shares of NASDAQ:INBK opened at $23.43 on Wednesday. The business has a 50-day moving average price of $27.98 and a two-hundred day moving average price of $33.75. First Internet Bancorp has a 1-year low of $21.76 and a 1-year high of $43.26. The stock has a market capitalization of $203.77 million, a P/E ratio of 8.11 and a beta of 0.52. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, March 31st. First Internet Bancorp’s payout ratio is 8.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INBK shares. Hovde Group cut their target price on shares of First Internet Bancorp from $44.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 target price (down from $45.00) on shares of First Internet Bancorp in a report on Friday, January 24th. Finally, Piper Sandler reduced their price target on shares of First Internet Bancorp from $42.50 to $38.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, First Internet Bancorp has a consensus rating of “Hold” and a consensus price target of $40.50.

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.