Shares of First Internet (NASDAQ:INBK) rose in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share increased 177.50% year over year to $1.11, which missed the estimate of $1.20.
Revenue of $30,569,000 rose by 57.58% from the same period last year, which beat the estimate of $23,070,000.
Guidance
Earnings guidance hasn’t been issued by the company for now.
First Internet hasn’t issued any revenue guidance for the time being.
Technicals
52-week high: $41.55
Company’s 52-week low was at $13.99
Price action over last quarter: down 8.83%
Company Overview
First Internet Bancorp is a bank holding company. Through its subsidiaries, it provides commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking/treasury management services. The company offers its products and services through the internet and does not have any branches. With operations organized into a single segment called the Commercial Banking segment, it also provides retail banking services.
