Interesting that many bank stocks were up today…some were up quite a bit. But INBK continues to go down. I understand that this is a smaller cap stock, but does anyone have any thoughts as to what else might be keeping the price per share down?
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I used to be a shareholder and sold out a while back. The reason I sold out is because even know they were growing EPS pretty quickly that was failing to translate into book value growth. JP Morgan just announced book value growth of I think 8% when they released earnings this morning. The last quarter if I am remembering my numbers correctly they reported BV growth of only 7%. I was having a hard time explaining why so I thought it best to just sell. I was also worried about their return on assets of below 1. I also have to admit i bought most all my shares between $15 and $23 and taking profits above $30 didn’t seem like a bad prospect given my reservations at the time.
Currently I am watching the stock and may consider coming back in with a small trial position when the price levels out a bit. Currently it seems to be in a downtrend and don’t want to catch a falling knife. A small stock like this you never know how irrational it can become before turning around. Given the fact it is trading close to BV and is still growing BV I do think it is a low risk bet at today’s price.
I hope that helps a bit.
Best,
Soth
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Thank you, Soth.
This is very helpful information.
I appreciate your response.