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

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First Internet Bancorp (NASDAQ:INBK) issued its quarterly earnings data on Thursday. The bank reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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%.

Shares of NASDAQ:INBK opened at $32.49 on Friday. The firm has a market cap of $318.43 million, a PE ratio of 12.50 and a beta of 0.79. The firm’s fifty day moving average is $28.97 and its 200-day moving average is $20.88. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.02 and a current ratio of 1.04. First Internet Bancorp has a 52 week low of $10.47 and a 52 week high of $32.49.

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

In related news, CEO David B. Becker acquired 10,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.50% of the company’s stock.

Several research analysts have recently issued reports on the stock. Piper Sandler upped their price target on shares of First Internet Bancorp from $19.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Zacks Investment Research lowered First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 5th. Finally, Janney Montgomery Scott downgraded First Internet Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th.

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 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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