First Internet Bancorp (NASDAQ:INBK) – Analysts at Piper Sandler decreased their Q1 2021 EPS estimates for First Internet Bancorp in a research note issued to investors on Tuesday, March 24th. Piper Sandler analyst N. Race now expects that the bank will post earnings of $0.62 per share for the quarter, down from their previous forecast of $0.72. Piper Sandler has a “Overweight” rating and a $33.00 price objective on the stock. Piper Sandler also issued estimates for First Internet Bancorp’s Q2 2021 earnings at $0.76 EPS and Q3 2021 earnings at $1.00 EPS.
INBK has been the topic of a number of other research reports. ValuEngine raised shares of First Internet Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. Zacks Investment Research lowered shares of First Internet Bancorp from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub raised shares of First Internet Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 28th. Craig Hallum started coverage on shares of First Internet Bancorp in a report on Monday, December 23rd. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Hovde Group raised shares of First Internet Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.50.
First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.15. First Internet Bancorp had a net margin of 15.37% and a return on equity of 8.48%. The firm had revenue of $20.78 million for the quarter, compared to analyst estimates of $20.50 million.
A number of institutional investors have recently added to or reduced their stakes in INBK. Emerald Mutual Fund Advisers Trust bought a new position in First Internet Bancorp during the 4th quarter worth approximately $31,000. Citigroup Inc. boosted its stake in First Internet Bancorp by 38.6% during the 4th quarter. Citigroup Inc. now owns 1,991 shares of the bank’s stock worth $47,000 after acquiring an additional 554 shares during the last quarter. Russell Investments Group Ltd. bought a new position in First Internet Bancorp during the 3rd quarter worth approximately $151,000. Barclays PLC boosted its stake in First Internet Bancorp by 94.1% during the 4th quarter. Barclays PLC now owns 9,657 shares of the bank’s stock worth $229,000 after acquiring an additional 4,682 shares during the last quarter. Finally, California Public Employees Retirement System bought a new position in First Internet Bancorp during the 4th quarter worth approximately $280,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.
In other First Internet Bancorp news, Director Jerry L. Williams bought 17,000 shares of First Internet Bancorp stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $12.36 per share, with a total value of $210,120.00. Following the purchase, the director now owns 44,036 shares of the company’s stock, valued at $544,284.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David B. Becker bought 7,000 shares of First Internet Bancorp stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $14.51 per share, for a total transaction of $101,570.00. Insiders bought a total of 27,200 shares of company stock worth $354,566 in the last ninety days. Insiders own 5.60% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, March 30th. First Internet Bancorp’s dividend payout ratio (DPR) is presently 9.56%.
First Internet Bancorp Company Profile
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 and money market accounts, non-interest bearing and interest-bearing demand deposits, brokered deposit accounts, and certificates of deposit.
Recommended Story: What is meant by holder of record?
Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.