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

First Internet Bancorp (NASDAQ:INBK - Get Free Report) will be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.55 per share for the quarter. Parties interested in listening to the company's conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.24. The business had revenue of $27.21 million for the quarter, compared to analysts' expectations of $24.50 million. First Internet Bancorp had a net margin of 3.81% and a return on equity of 4.56%. 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 0.3 %

INBK traded down $0.08 during midday trading on Wednesday, reaching $31.00. The company's stock had a trading volume of 44,076 shares, compared to its average volume of 52,959. The firm has a market capitalization of $268.49 million, a price-to-earnings ratio of 26.86 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. First Internet Bancorp has a 1 year low of $9.68 and a 1 year high of $35.72. The stock's 50-day moving average is $32.28 and its 200-day moving average is $25.43.

First Internet Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Wednesday, March 27th. First Internet Bancorp's dividend payout ratio (DPR) is presently 20.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in First Internet Bancorp by 192.2% during the second quarter. Public Employees Retirement System of Ohio now owns 9,426 shares of the bank's stock valued at $140,000 after purchasing an additional 6,200 shares during the period. Bank of America Corp DE raised its position in First Internet Bancorp by 184.0% in the fourth quarter. Bank of America Corp DE now owns 5,709 shares of the bank's stock worth $139,000 after acquiring an additional 3,699 shares during the period. BNP Paribas Arbitrage SNC raised its position in First Internet Bancorp by 61.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 3,124 shares of the bank's stock worth $106,000 after acquiring an additional 1,189 shares during the period. Deutsche Bank AG raised its position in First Internet Bancorp by 34.7% in the first quarter. Deutsche Bank AG now owns 5,225 shares of the bank's stock worth $87,000 after acquiring an additional 1,345 shares during the period. Finally, Barclays PLC raised its position in First Internet Bancorp by 84.6% in the first quarter. Barclays PLC now owns 4,291 shares of the bank's stock worth $71,000 after acquiring an additional 1,966 shares during the period. Institutional investors own 65.46% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of First Internet Bancorp from $29.00 to $34.00 and gave the stock a "market perform" rating in a research note on Friday, January 26th. StockNews.com upgraded shares of First Internet Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $29.00.

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.