First Internet Bancorp reports results for the quarter ended in December - Earnings Summary

First Internet Bancorp

24/01/2024 23:33

* First Internet Bancorp  INBK.OQ  reported quarterly
adjusted
earnings of 48 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 68 cents.  The mean expectation of
five analysts for the quarter was for earnings of 31 cents per
share. Wall Street expected results to range from 19 cents to 40
cents per share.
    * Revenue fell 23.4% to $21.05 million from a year ago;
analysts
expected $19.28 million. 
    * First Internet Bancorp's reported EPS for the quarter was
48
cents​.
    * The company reported quarterly net income of $4.14
million.
    * First Internet Bancorp shares had risen by 12.0% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 24%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for First Internet
Bancorp is $29.00 
This summary was machine generated from LSEG data January 24 at
11:33 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.31           0.48           Beat
 Sep. 30 2023      0.36           0.39           Beat
 Jun. 30 2023      0.38           0.44           Beat
 Mar. 31 2023      0.46           -0.14          Missed