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Fly News Breaks for January 25, 2019
INBK
Jan 25, 2019 | 10:08 EDT
As previously reported, Maxim analyst Michael Diana downgraded First Internet Bancorp to Hold after its Q4 earnings miss, saying the company experienced a 16bps compression in net interest margins with further expected decline of 6-9bps in Q1. The analyst also lowers his FY19 EPS view to $2.50 from $2.75 given the outlook and believes that the earnings multiple for the bank should be toward the lower end of peer range based on its declining profitability trend.
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