First Internet Bancorp (NASDAQ:INBK) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

First Internet Bancorp (NASDAQ:INBK) posted its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.10), MarketWatch Earnings reports. First Internet Bancorp had a net margin of 19.65% and a return on equity of 10.92%.

Shares of NASDAQ:INBK traded down $0.84 during midday trading on Thursday, hitting $30.56. The stock had a trading volume of 970 shares, compared to its average volume of 43,343. The stock has a 50-day moving average price of $32.47. The company has a market capitalization of $301.02 million, a P/E ratio of 9.15 and a beta of 0.81. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 1.70. First Internet Bancorp has a fifty-two week low of $13.99 and a fifty-two week high of $41.55.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, June 30th. First Internet Bancorp’s dividend payout ratio is currently 7.59%.

Separately, Zacks Investment Research downgraded shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 22nd.

First Internet Bancorp Company Profile

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

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Earnings History for First Internet Bancorp (NASDAQ:INBK)

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