First Internet Bancorp (NASDAQ:INBK) Releases Earnings Results, Beats Estimates By $0.15 EPS

First Internet Bancorp (NASDAQ:INBK) released its quarterly earnings results on Wednesday. The bank reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.15, Fidelity Earnings reports. First Internet Bancorp had a return on equity of 8.55% and a net margin of 15.37%. The business had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $20.50 million.

INBK opened at $26.18 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.02. The business has a 50 day simple moving average of $23.94 and a 200-day simple moving average of $21.98. The stock has a market capitalization of $230.98 million, a P/E ratio of 10.43 and a beta of 0.61. First Internet Bancorp has a 12 month low of $17.56 and a 12 month high of $26.46.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, December 30th. First Internet Bancorp’s dividend payout ratio (DPR) is 9.56%.

A number of equities analysts recently weighed in on INBK shares. ValuEngine upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Hovde Group upgraded shares of First Internet Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research report on Tuesday, January 14th. Craig Hallum began coverage on shares of First Internet Bancorp in a research note on Monday, December 23rd. They issued a “buy” rating and a $33.00 target price for the company. Finally, Zacks Investment Research cut shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $29.33.

About First Internet Bancorp

First Internet Bancorp operates as a 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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