FIG Partners Equities Analysts Decrease Earnings Estimates for First Internet Bancorp (INBK)

First Internet Bancorp (NASDAQ:INBK) – Research analysts at FIG Partners cut their Q1 2018 earnings per share (EPS) estimates for shares of First Internet Bancorp in a research report issued to clients and investors on Wednesday. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings per share of $0.61 for the quarter, down from their prior estimate of $0.73. FIG Partners also issued estimates for First Internet Bancorp’s Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.80 EPS and Q4 2018 earnings at $0.86 EPS.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.06. First Internet Bancorp had a net margin of 16.58% and a return on equity of 8.91%. The company had revenue of $15.71 million during the quarter, compared to the consensus estimate of $15.00 million. ILLEGAL ACTIVITY WARNING: “FIG Partners Equities Analysts Decrease Earnings Estimates for First Internet Bancorp (INBK)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/09/28/fig-partners-equities-analysts-decrease-earnings-estimates-for-first-internet-bancorp-inbk.html.

Several other analysts have also recently commented on the company. Zacks Investment Research cut First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods restated a “buy” rating and set a $36.00 target price on shares of First Internet Bancorp in a report on Thursday, July 27th.

Shares of First Internet Bancorp (INBK) traded up 0.17% during midday trading on Thursday, hitting $30.20. 6,154 shares of the company were exchanged. First Internet Bancorp has a one year low of $22.54 and a one year high of $33.35. The firm has a market cap of $196.69 million, a P/E ratio of 13.60 and a beta of -0.06. The company’s 50 day moving average price is $31.00 and its 200 day moving average price is $29.16.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 28th. First Internet Bancorp’s payout ratio is presently 10.76%.

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of First Internet Bancorp by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock worth $144,000 after purchasing an additional 159 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of First Internet Bancorp by 1.2% during the first quarter. ClariVest Asset Management LLC now owns 24,700 shares of the bank’s stock worth $729,000 after purchasing an additional 300 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of First Internet Bancorp by 11.7% during the first quarter. Bank of America Corp DE now owns 3,477 shares of the bank’s stock worth $103,000 after purchasing an additional 363 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of First Internet Bancorp by 11.7% during the second quarter. Bank of Montreal Can now owns 4,468 shares of the bank’s stock worth $125,000 after purchasing an additional 468 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of First Internet Bancorp by 9.1% during the second quarter. Teachers Advisors LLC now owns 10,653 shares of the bank’s stock worth $299,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 58.13% of the company’s stock.

First Internet Bancorp Company Profile

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

Earnings History and Estimates for First Internet Bancorp (NASDAQ:INBK)




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