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

First Internet Bancorp (NASDAQ:INBK) issued its quarterly earnings data on Wednesday. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Performance

INBK opened at $33.29 on Friday. The company has a market capitalization of $288.62 million, a price-to-earnings ratio of 11.52 and a beta of 0.73. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. First Internet Bancorp has a 1-year low of $24.18 and a 1-year high of $43.26. The business has a 50 day moving average price of $38.21 and a two-hundred day moving average price of $36.02.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 0.72%. First Internet Bancorp’s dividend payout ratio (DPR) is 8.30%.

Analyst Ratings Changes

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

About First Internet Bancorp

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.