First Internet Bancorp (INBK) Projected to Post Earnings on Wednesday

First Internet Bancorp (NASDAQ:INBK - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect First Internet Bancorp to post earnings of $0.75 per share and revenue of $26.73 million for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.51). First Internet Bancorp had a net margin of 7.45% and a return on equity of 5.86%. On average, analysts expect First Internet Bancorp to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

First Internet Bancorp Price Performance

INBK stock traded up $0.63 during midday trading on Friday, reaching $23.80. 52,559 shares of the stock were exchanged, compared to its average volume of 43,744. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $206.99 million, a PE ratio of 8.24 and a beta of 0.52. First Internet Bancorp has a 52 week low of $21.76 and a 52 week high of $43.26. The company has a fifty day moving average price of $27.60 and a 200 day moving average price of $33.60.

First Internet Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, March 31st. First Internet Bancorp's dividend payout ratio (DPR) is currently 8.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of First Internet Bancorp from $42.50 to $38.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Hovde Group reduced their price objective on shares of First Internet Bancorp from $44.00 to $39.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $40.00 target price (down from $45.00) on shares of First Internet Bancorp in a research report on Friday, January 24th. Finally, StockNews.com lowered First Internet Bancorp from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.50.

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, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.