First Internet Bancorp (NASDAQ:INBK) is expected to report third quarter earnings results, after market close, on Wednesday 21st October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.41 per share.
Looking ahead, the full year income are expected at $ 1.76 per share on the revenues of $ 65.54 million.
Previous Quarter Performance
First Internet Bancorp communicated income for the second quarter of $ 0.40 per share, from the revenue of $ 19.40 million. The quarterly earnings contracted 33.33 percent compared with the same quarter last year. According to street consensus, INBK was expected to report 2Q20 income of $ 0.33 per share from revenue of $ 15.89 million. The bottom line results beat street analysts by $ 0.07 or 21.21 percent, at the same time, top line results outshined analysts by $ 3.51 million or 22.09 percent.
Stock Performance
Shares of First Internet Bancorp traded up $ 0.57 or 3.34 percent on Tuesday, reaching $ 17.64 with volume of 12.80 thousand shares. First Internet Bancorp has traded high as $ 17.64 and has cracked $ 16.96 on the downward trend
The closing price of $ 17.64, representing a 63.04 % increase from the 52 week low of $ 10.47 and a 40.11 % decrease over the 52 week high of $ 28.50.
The company has a market capital of $ 172.86 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 29th September 2020, maintained by Piper Sandler at Overweight rating, with $ 19.00 target price.
Conference Call
First Internet Bancorp will be hosting a conference call at 12:00 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.firstinternetbancorp.com
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. It also provides commercial and industrial, owner-occupied commercial real estate, investor commercial real estate, construction, residential mortgage, term, small installment, home improvement, home equity, and other consumer loans, as well as single tenant lease financing, public and healthcare finance, lines of credit, and letters of credit to individuals and commercial customers.
