Q4 2017 EPS Estimates for First Internet Bancorp (NASDAQ:INBK) Lifted by FIG Partners

First Internet Bancorp (NASDAQ:INBK) – FIG Partners boosted their Q4 2017 earnings per share (EPS) estimates for First Internet Bancorp in a report released on Friday. FIG Partners analyst J. Rodis now anticipates that the bank will earn $0.77 per share for the quarter, up from their previous forecast of $0.71. FIG Partners also issued estimates for First Internet Bancorp’s Q1 2018 earnings at $0.73 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.73 EPS and Q4 2018 earnings at $0.75 EPS.

INBK has been the subject of several other reports. Zacks Investment Research raised First Internet Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Maxim Group reaffirmed a “buy” rating and issued a $37.00 target price on shares of First Internet Bancorp in a report on Monday, April 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $36.00 target price on shares of First Internet Bancorp in a report on Monday, June 26th. Finally, Hovde Group initiated coverage on First Internet Bancorp in a report on Monday, April 17th. They issued an “outperform” rating and a $32.50 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. First Internet Bancorp currently has an average rating of “Buy” and an average price target of $34.38.

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Shares of First Internet Bancorp (NASDAQ INBK) traded up 1.50% on Monday, reaching $30.40. The company had a trading volume of 12,250 shares. First Internet Bancorp has a 12 month low of $22.12 and a 12 month high of $33.00. The stock has a 50-day moving average price of $28.01 and a 200-day moving average price of $29.08. The stock has a market cap of $198.00 million, a PE ratio of 13.69 and a beta of -0.11.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.55 by $0.06. First Internet Bancorp had a return on equity of 9.12% and a net margin of 16.58%. The firm had revenue of $15.71 million during the quarter, compared to analysts’ expectations of $15 million.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Wednesday, June 28th. First Internet Bancorp’s dividend payout ratio is presently 10.76%.

In other First Internet Bancorp news, Director John K. Keach, Jr. bought 1,000 shares of First Internet Bancorp stock in a transaction dated Thursday, May 25th. The stock was bought at an average cost of $26.39 per share, with a total value of $26,390.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in INBK. Heartland Advisors Inc. raised its position in First Internet Bancorp by 12.5% in the first quarter. Heartland Advisors Inc. now owns 225,000 shares of the bank’s stock valued at $6,638,000 after buying an additional 25,000 shares in the last quarter. Argent Capital Management LLC raised its position in First Internet Bancorp by 4.2% in the first quarter. Argent Capital Management LLC now owns 129,055 shares of the bank’s stock valued at $3,807,000 after buying an additional 5,175 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in First Internet Bancorp by 6.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 38,870 shares of the bank’s stock valued at $1,145,000 after buying an additional 2,370 shares in the last quarter. Kennedy Capital Management Inc. raised its position in First Internet Bancorp by 17.7% in the first quarter. Kennedy Capital Management Inc. now owns 249,751 shares of the bank’s stock valued at $7,368,000 after buying an additional 37,480 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in First Internet Bancorp by 1.2% in the first quarter. ClariVest Asset Management LLC now owns 24,700 shares of the bank’s stock valued at $729,000 after buying an additional 300 shares in the last quarter. 57.46% of the stock is owned by institutional investors.

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.

Earnings History and Estimates for First Internet Bancorp (NASDAQ:INBK)

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