Added to YB: 2024-01-02
Pitch date: 2023-11-13
IBTN [bullish]
InsCorp, Inc.
+53.31%
current return
Author Info
No bio for this author
Company Info
InsCorp, Inc. operates as a bank holding company for InsBank that provides banking products and services in Tennessee.
Market Cap
$71.1M
Pitch Price
$17.94
Price Target
25.20 (-8%)
Dividend
1.86%
EV/EBITDA
N/A
P/E
9.31
EV/Sales
N/A
Sector
Banks
Category
value
INSCORP INC IBTN
IBTN undervalued at 80% TBV, $813M assets, high ROE, niche in med banking (27% loans). Solid NIMs, 0.2% NPLs, no charge-offs in 2y. CEO Rieniets focuses on growth, buybacks. Trades at 6x Q3 ‘23 earnings, digital deposit platform to strengthen. 15-25% IRR seen, risks: illiquidity, recession. Growth via Medquity, banking sentiment shift. Advisor materially invested.
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