First Internet Bancorp (NASDAQ:INBK) Announces Earnings Results, Misses Expectations By $0.51 EPS

First Internet Bancorp (NASDAQ:INBK) issued its quarterly earnings results on Wednesday. The bank reported $0.41 earnings per share (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 %

NASDAQ:INBK traded down $0.63 during midday trading on Wednesday, reaching $35.27. The company had a trading volume of 22,220 shares, compared to its average volume of 33,849. The firm has a market capitalization of $305.72 million, a price-to-earnings ratio of 13.89 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock’s fifty day simple moving average is $38.32 and its 200-day simple moving average is $36.03. First Internet Bancorp has a 12-month low of $24.18 and a 12-month high of $43.26.

First Internet Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target on shares of First Internet Bancorp from $41.00 to $45.00 and gave the company 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.