Recap: First Internet Q2 Earnings

Shares of First Internet 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.