Is it time to Buy before this week’s earning report First Internet Bancorp (NASDAQ:INBK)

Earnings results for First Internet Bancorp (NASDAQ:INBK)

First Internet Bancorp is expected* to report earnings on 01/20/2021 after market close. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.82. The reported EPS for the same quarter last year was $0.72.

First Internet Bancorp last released its earnings results on October 21st, 2020. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.40 by $0.63. The firm had revenue of $28.73 million for the quarter, compared to analyst estimates of $21.83 million. First Internet Bancorp has generated $2.51 earnings per share over the last year and currently has a price-to-earnings ratio of 11.6. First Internet Bancorp has confirmed that its next quarterly earnings report will be published on Wednesday, January 20th, 2021. First Internet Bancorp will be holding an earnings conference call on Wednesday, January 20th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on First Internet Bancorp (NASDAQ:INBK)

3 Wall Street analysts have issued ratings and price targets for First Internet Bancorp in the last 12 months. Their average twelve-month price target is $30.00, predicting that the stock has a possible downside of 0.43%. The high price target for INBK is $30.00 and the low price target for INBK is $30.00. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

First Internet Bancorp has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $30.00, First Internet Bancorp has a forecasted downside of 0.4% from its current price of $30.13. First Internet Bancorp has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: First Internet Bancorp (NASDAQ:INBK)

First Internet Bancorp has a dividend yield of 0.78%, which is in the bottom 25% of all stocks that pay dividends. First Internet Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of First Internet Bancorp is 9.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, First Internet Bancorp will have a dividend payout ratio of 7.41% next year. This indicates that First Internet Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: First Internet Bancorp (NASDAQ:INBK)

In the past three months, First Internet Bancorp insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $279,300.00 in company stock and sold $0.00 in company stock. Only 6.50% of the stock of First Internet Bancorp is held by insiders. 71.64% of the stock of First Internet Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of First Internet Bancorp (NASDAQ:INBK

Earnings for First Internet Bancorp are expected to grow by 12.89% in the coming year, from $2.87 to $3.24 per share. The P/E ratio of First Internet Bancorp is 11.59, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.53. The P/E ratio of First Internet Bancorp is 11.59, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 21.86. First Internet Bancorp has a P/B Ratio of 0.96. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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