First Internet Bancorp (NASDAQ:INBK) – Equities researchers at FIG Partners boosted their FY2018 earnings per share estimates for shares of First Internet Bancorp in a research note issued to investors on Wednesday, according to Zacks Investment Research. FIG Partners analyst J. Rodis now expects that the bank will post earnings of $3.30 per share for the year, up from their previous estimate of $2.97.
INBK has been the topic of several other research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $44.00 price target on shares of First Internet Bancorp in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of First Internet Bancorp from a “sell” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, November 21st. TheStreet upgraded shares of First Internet Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, November 16th. Maxim Group boosted their price target on shares of First Internet Bancorp from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, BidaskClub lowered shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. First Internet Bancorp has an average rating of “Buy” and an average target price of $43.75.
First Internet Bancorp (INBK) traded up $0.30 during mid-day trading on Friday, reaching $40.95. 20,449 shares of the company traded hands, compared to its average volume of 30,686. The firm has a market capitalization of $341.91 and a price-to-earnings ratio of 17.13. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. First Internet Bancorp has a 52 week low of $25.48 and a 52 week high of $42.40.
First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Friday, October 20th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. First Internet Bancorp had a net margin of 17.60% and a return on equity of 8.87%. The firm had revenue of $17.33 million during the quarter, compared to analysts’ expectations of $16.90 million.
Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in First Internet Bancorp by 11.7% during the 1st quarter. Bank of America Corp DE now owns 3,477 shares of the bank’s stock worth $103,000 after buying an additional 363 shares during the period. Citigroup Inc. increased its stake in First Internet Bancorp by 3,143.3% during the 2nd quarter. Citigroup Inc. now owns 4,119 shares of the bank’s stock worth $115,000 after buying an additional 3,992 shares during the period. Bank of Montreal Can increased its stake in First Internet Bancorp by 11.7% during the 2nd quarter. Bank of Montreal Can now owns 4,468 shares of the bank’s stock worth $125,000 after buying an additional 468 shares during the period. Valeo Financial Advisors LLC purchased a new stake in First Internet Bancorp during the 3rd quarter worth approximately $134,000. Finally, The Manufacturers Life Insurance Company increased its stake in First Internet Bancorp by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock worth $144,000 after buying an additional 159 shares during the period. 63.87% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, December 28th. First Internet Bancorp’s dividend payout ratio (DPR) is 10.04%.
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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.
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