First Internet Bancorp (NASDAQ:INBK) Issues 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.51), Zacks reports. First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%.

First Internet Bancorp Trading Down 1.8 %

INBK opened at $35.27 on Thursday. First Internet Bancorp has a fifty-two week low of $24.18 and a fifty-two week high of $43.26. The company’s 50-day moving average is $38.32 and its 200 day moving average is $36.03. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a market capitalization of $305.79 million, a PE ratio of 13.89 and a beta of 0.73.

First Internet Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.24 annualized dividend and a yield of 0.68%. First Internet Bancorp’s dividend payout ratio is currently 9.45%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of 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.

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.