First Internet Bancorp (INBK) Expected to Announce Quarterly Earnings on Wednesday

First Internet Bancorp (NASDAQ:INBK - Get Free Report) is anticipated to announce its earnings results after the market closes on Wednesday, April 23rd. Analysts expect the company to announce earnings of $0.75 per share and revenue of $26.73 million for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.51). First Internet Bancorp had a return on equity of 5.86% and a net margin of 7.45%. 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 Price Performance

INBK stock traded up $0.63 during trading on Friday, hitting $23.80. The company had a trading volume of 52,559 shares, compared to its average volume of 43,621. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The company has a fifty day moving average price of $27.41 and a two-hundred day moving average price of $33.57. First Internet Bancorp has a fifty-two week low of $21.76 and a fifty-two week high of $43.26. The company has a market cap of $206.99 million, a P/E ratio of 8.24 and a beta of 0.52.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. First Internet Bancorp's dividend payout ratio is presently 8.30%.

Analyst Ratings Changes

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

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