First Internet Bancorp (NASDAQ:INBK) Issues Quarterly Earnings Results, Misses Expectations 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 analysts’ consensus estimates of $0.92 by ($0.51), Zacks reports. First Internet Bancorp had a return on equity of 6.06% and a net margin of 6.92%.

First Internet Bancorp Stock Down 1.8 %

INBK traded down $0.63 on Wednesday, hitting $35.27. 22,220 shares of the company were exchanged, compared to its average volume of 33,849. The firm has a 50-day moving average price of $38.32 and a two-hundred day moving average price of $36.03. 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 has a twelve month low of $24.18 and a twelve month high of $43.26. The company has a market cap of $305.72 million, a price-to-earnings ratio of 13.89 and a beta of 0.73.

First Internet Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued 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 0.68%. First Internet Bancorp’s dividend payout ratio (DPR) is presently 9.45%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on First Internet Bancorp from $41.00 to $45.00 and gave the stock a “market perform” rating in a research note 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.