The First Internet Bancorp (INBK) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

The First Internet Bancorp (INBK) Releases Quarterly  Earnings Results, Beats Estimates By $0.11 EPS

First Internet Bancorp (NASDAQ:INBK) released its earnings results on Thursday. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.11. First Internet Bancorp had a net margin of 15.87% and a return on equity of 8.78%.

Shares of First Internet Bancorp (NASDAQ:INBK) opened at 29.30 on Friday. First Internet Bancorp has a 12 month low of $22.01 and a 12 month high of $33.00. The company’s 50-day moving average is $30.01 and its 200 day moving average is $25.88. The stock has a market capitalization of $162.12 million, a P/E ratio of 13.60 and a beta of -0.07.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, December 28th. First Internet Bancorp’s dividend payout ratio (DPR) is 11.16%.

Several brokerages recently commented on INBK. Zacks Investment Research raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, November 22nd. Keefe, Bruyette & Woods began coverage on shares of First Internet Bancorp in a research report on Tuesday, January 10th. They set an “outperform” rating and a $36.00 price objective on the stock.

About First Internet Bancorp

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

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