First Internet Bancorp (NASDAQ:INBK) Earning Somewhat Critical News Coverage, Report Finds

Press coverage about First Internet Bancorp (NASDAQ:INBK) has been trending somewhat negative recently, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. First Internet Bancorp earned a media sentiment score of -0.02 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 47.566569733501 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:

First Internet Bancorp (INBK) opened at 39.10 on Friday. The stock’s 50 day moving average is $32.86 and its 200-day moving average is $29.91. First Internet Bancorp has a 12 month low of $24.00 and a 12 month high of $39.20. The stock has a market capitalization of $254.66 million, a price-to-earnings ratio of 17.60 and a beta of -0.06.

First Internet Bancorp (NASDAQ:INBK) last released its earnings results on Friday, October 20th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. First Internet Bancorp had a return on equity of 9.74% and a net margin of 17.60%. The firm had revenue of $17.33 million for the quarter, compared to analyst estimates of $16.90 million. On average, equities research analysts expect that First Internet Bancorp will post $2.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 28th. First Internet Bancorp’s payout ratio is presently 10.04%.

A number of research firms have weighed in on INBK. Maxim Group raised their price objective on shares of First Internet Bancorp from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Hovde Group raised their price objective on shares of First Internet Bancorp from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $44.00 price objective on shares of First Internet Bancorp in a report on Friday, October 20th. Finally, Zacks Investment Research cut shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 20th.

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In other news, Director Jerry L. Williams acquired 2,100 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were bought at an average price of $30.05 per share, with a total value of $63,105.00. Following the acquisition, the director now owns 35,836 shares of the company’s stock, valued at $1,076,871.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David B. Becker acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were purchased at an average cost of $30.02 per share, for a total transaction of $150,100.00. The disclosure for this purchase can be found here. 7.60% of the stock is currently owned by company insiders.

About First Internet Bancorp

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.

Insider Buying and Selling by Quarter for First Internet Bancorp (NASDAQ:INBK)

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