First Internet Bancorp (NASDAQ:INBK) Releases Earnings Results, Beats Expectations By $0.27 EPS

First Internet Bancorp (NASDAQ:INBK) issued its earnings results on Thursday. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.27, MarketWatch Earnings reports. First Internet Bancorp had a net margin of 14.96% and a return on equity of 8.77%.

First Internet Bancorp stock opened at $32.49 on Friday. The firm has a 50 day simple moving average of $28.97 and a 200-day simple moving average of $20.88. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market capitalization of $318.43 million, a PE ratio of 12.50 and a beta of 0.79. First Internet Bancorp has a 12-month low of $10.47 and a 12-month high of $32.49.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 15th. Stockholders of record on Thursday, December 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, December 30th. First Internet Bancorp’s dividend payout ratio (DPR) is presently 9.56%.

In related news, CEO David B. Becker acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, December 17th. The stock was acquired at an average cost of $27.93 per share, for a total transaction of $279,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.50% of the company’s stock.

A number of brokerages recently weighed in on INBK. Janney Montgomery Scott downgraded shares of First Internet Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th. Piper Sandler boosted their price objective on shares of First Internet Bancorp from $19.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Finally, Zacks Investment Research downgraded shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 5th.

First Internet Bancorp Company Profile

First Internet Bancorp operates as the 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.

Further Reading: Growth Stocks

Earnings History for First Internet Bancorp (NASDAQ:INBK)

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