First Internet Bancorp (NASDAQ:INBK) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS

First Internet Bancorp (NASDAQ:INBK) released its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.10), MarketWatch Earnings reports. First Internet Bancorp had a return on equity of 10.92% and a net margin of 19.65%.

INBK traded down $0.84 during trading on Thursday, hitting $30.56. 970 shares of the company’s stock were exchanged, compared to its average volume of 43,343. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average price is $32.47. First Internet Bancorp has a fifty-two week low of $13.99 and a fifty-two week high of $41.55. The company has a market cap of $301.02 million, a PE ratio of 9.15 and a beta of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 30th. This represents a $0.24 annualized dividend and a yield of 0.79%. First Internet Bancorp’s payout ratio is 7.59%.

Separately, Zacks Investment Research downgraded shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 22nd.

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 to individuals and commercial customers in the United States. The company accept non-interest bearing and interest-bearing demand deposit, savings, money market, and brokered deposit accounts, as well as certificates of deposit.

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Earnings History for First Internet Bancorp (NASDAQ:INBK)

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