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

First Internet Bancorp (NASDAQ:INBK) issued its earnings results on Tuesday. The bank reported $1.11 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.10), MarketWatch Earnings reports. First Internet Bancorp had a net margin of 19.65% and a return on equity of 10.92%.

INBK stock traded down $0.27 during trading on Thursday, reaching $31.13. 178 shares of the company were exchanged, compared to its average volume of 43,343. The business’s 50-day moving average is $32.47. The company has a market capitalization of $306.63 million, a P/E ratio of 9.15 and a beta of 0.81. First Internet Bancorp has a twelve month low of $13.99 and a twelve month high of $41.55. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.07 and a quick ratio of 1.06.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Thursday, July 1st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, June 30th. First Internet Bancorp’s dividend payout ratio is 7.59%.

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

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 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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