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

First Internet Bancorp (NASDAQ:INBK) announced its earnings results on Thursday. The bank reported $1.12 earnings per share 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%.

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

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

In related news, CEO David B. Becker acquired 10,000 shares of the business’s stock in a transaction dated Thursday, December 17th. The stock was bought at an average price of $27.93 per share, with a total value of $279,300.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.50% of the company’s stock.

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

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 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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