INBK took a beating today on no news that I can see. Down 9.35%. Anyone see anything I don’t?
Luckily NFLX is up big.
There’s no news. I searched around but came up with nothing. Volume was 3x of the average, but then this is a micro-cap so it can be moved by a few thousand shares. The only thing I could think of is the general malaise surrounding the finance stocks. BAC, WFC, AIG, and C (very different beasts) have all gone down, so may be this was someone leaving in a hurry looking at how finance stocks have done …
Earnings should come out next week, so that’s really our moment of truth. It will tell us how the investments in people and IT is paying off.
I 'm not concerned, and I like the fact that the dividend if stale is now around 1.6%. The stock is around 0.7x book value, so if the company performs we should get a quick rebound. I took the opportunity to add some more to bring the allocation up to around 3%. INBK is still one of my larger holdings.
Anirban