First Internet Bancorp (NASDAQ:INBK) Releases Quarterly Earnings Results, Misses Estimates By $0.51 EPS

First Internet Bancorp (NASDAQ:INBK) released its quarterly earnings results on Wednesday. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.51), Zacks reports. First Internet Bancorp had a return on equity of 5.86% and a net margin of 7.45%.

First Internet Bancorp Stock Down 5.6 %

NASDAQ:INBK opened at $33.29 on Friday. The firm has a market capitalization of $288.62 million, a PE ratio of 11.52 and a beta of 0.73. The stock has a 50 day moving average of $38.21 and a 200-day moving average of $36.02. 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.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Tuesday, December 31st. First Internet Bancorp’s dividend payout ratio (DPR) is presently 8.30%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price objective 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.

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.