First Internet Bancorp (NASDAQ:INBK) – Analysts at FIG Partners lowered their FY2018 earnings estimates for shares of First Internet Bancorp in a note issued to investors on Friday, October 26th, Zacks Investment Research reports. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings per share of $2.58 for the year, down from their previous forecast of $2.59. FIG Partners also issued estimates for First Internet Bancorp’s Q4 2018 earnings at $0.60 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.67 EPS, Q3 2019 earnings at $0.76 EPS, Q4 2019 earnings at $0.82 EPS and FY2019 earnings at $2.85 EPS.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of First Internet Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. ValuEngine upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Maxim Group restated a “buy” rating and issued a $30.00 price objective (down previously from $38.00) on shares of First Internet Bancorp in a research note on Friday, October 26th. Zacks Investment Research upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Craig Hallum set a $45.00 price objective on shares of First Internet Bancorp and gave the company a “buy” rating in a research note on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.50.
NASDAQ:INBK traded down $0.21 during trading hours on Monday, hitting $24.98. 21,892 shares of the company traded hands, compared to its average volume of 47,171. The stock has a market cap of $256.48 million, a P/E ratio of 10.45 and a beta of 0.41. First Internet Bancorp has a twelve month low of $23.81 and a twelve month high of $42.40. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.06 and a quick ratio of 1.05.
First Internet Bancorp (NASDAQ:INBK) last released its earnings results on Wednesday, October 24th. The bank reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $17.96 million during the quarter, compared to analysts’ expectations of $18.50 million. First Internet Bancorp had a net margin of 18.57% and a return on equity of 9.29%.
In other First Internet Bancorp news, Director Jerry L. Williams acquired 1,500 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $25.88 per share, for a total transaction of $38,820.00. Following the purchase, the director now owns 39,885 shares in the company, valued at approximately $1,032,223.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of INBK. Valeo Financial Advisors LLC grew its holdings in shares of First Internet Bancorp by 48.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,138 shares of the bank’s stock worth $158,000 after purchasing an additional 2,000 shares during the last quarter. AMI Investment Management Inc. bought a new stake in shares of First Internet Bancorp in the 2nd quarter worth about $205,000. Quantitative Systematic Strategies LLC bought a new stake in shares of First Internet Bancorp in the 2nd quarter worth about $235,000. Cim Investment Mangement Inc. bought a new stake in shares of First Internet Bancorp in the 2nd quarter worth about $242,000. Finally, Nwam LLC grew its holdings in shares of First Internet Bancorp by 43.6% in the 2nd quarter. Nwam LLC now owns 7,923 shares of the bank’s stock worth $270,000 after purchasing an additional 2,405 shares during the last quarter. 70.20% of the stock is currently owned by institutional investors and hedge funds.
About First Internet Bancorp
First Internet Bancorp operates as a bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers savings accounts, non-interest bearing and interest-bearing demand deposits, money market accounts, brokered deposit accounts, and certificates of deposit.
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