First Internet Bancorp (NASDAQ:INBK) Releases Earnings Results

by · The Cerbat Gem

First Internet Bancorp (NASDAQ:INBK – Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.51), Zacks reports. First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%.

First Internet Bancorp Stock Down 1.8 %

Shares of NASDAQ INBK traded down $0.63 during mid-day trading on Wednesday, reaching $35.27. The company had a trading volume of 22,220 shares, compared to its average volume of 33,849. The firm has a 50 day simple moving average of $38.32 and a two-hundred day simple moving average of $36.03. First Internet Bancorp has a 52-week low of $24.18 and a 52-week high of $43.26. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market cap of $305.72 million, a P/E ratio of 13.89 and a beta of 0.73.

First Internet Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.68%. First Internet Bancorp’s dividend payout ratio is presently 9.45%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on First Internet Bancorp from $41.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Check Out Our Latest Stock Analysis on First Internet Bancorp

First Internet Bancorp Company Profile

(Get Free Report)

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.

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