First Internet Bancorp (NASDAQ:INBK) Announces Earnings Results, Beats Expectations By $0.27 EPS

First Internet Bancorp (NASDAQ:INBK) issued its quarterly earnings data on Thursday. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.27, MarketWatch Earnings reports. First Internet Bancorp had a net margin of 14.96% and a return on equity of 8.77%.

INBK stock opened at $32.49 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.02. The company has a 50-day moving average of $28.97 and a two-hundred day moving average of $20.88. First Internet Bancorp has a 52-week low of $10.47 and a 52-week high of $32.49. The stock has a market capitalization of $318.43 million, a price-to-earnings ratio of 12.50 and a beta of 0.79.

The company also recently declared a quarterly dividend, which was paid on Friday, January 15th. Shareholders of record on Thursday, December 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, December 30th. First Internet Bancorp’s dividend payout ratio (DPR) is 9.56%.

In related news, CEO David B. Becker bought 10,000 shares of First Internet Bancorp stock in a transaction that occurred on Thursday, December 17th. The stock was acquired at an average price of $27.93 per share, for a total transaction of $279,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on INBK shares. Zacks Investment Research cut shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 5th. Janney Montgomery Scott cut shares of First Internet Bancorp from a “buy” rating to a “neutral” rating in a report on Tuesday, November 10th. Finally, Piper Sandler upped their price target on shares of First Internet Bancorp from $19.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 26th.

About First Internet Bancorp

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

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Earnings History for First Internet Bancorp (NASDAQ:INBK)

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