First Internet Bancorp (NASDAQ:INBK) Issues Quarterly Earnings Results

First Internet Bancorp (NASDAQ:INBK) posted 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 return on equity of 6.06% and a net margin of 6.92%.

First Internet Bancorp Trading Down 1.8 %

First Internet Bancorp stock opened at $35.27 on Thursday. The firm has a market capitalization of $305.79 million, a price-to-earnings ratio of 13.89 and a beta of 0.73. First Internet Bancorp has a 52 week low of $24.18 and a 52 week high of $43.26. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company has a 50 day moving average price of $38.32 and a 200 day moving average price of $36.03.

First Internet Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.06 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.68%. First Internet Bancorp’s dividend payout ratio (DPR) is 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 stock a “market perform” rating in a research note on Wednesday, December 4th.

First Internet Bancorp Company Profile

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.