First Internet Bancorp (NASDAQ:INBK) Issues Quarterly Earnings Results

First Internet Bancorp (NASDAQ:INBK) issued its quarterly earnings results on Thursday. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the 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 INBK stock opened at $32.49 on Friday. The company has a market capitalization of $318.43 million, a price-to-earnings ratio of 12.50 and a beta of 0.79. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.02 and a current ratio of 1.04. The company has a 50-day simple moving average of $28.97 and a 200 day simple moving average of $20.88. First Internet Bancorp has a 52 week low of $10.47 and a 52 week high of $32.49.

The business also recently announced a quarterly dividend, which was paid on Friday, January 15th. Investors of record on Thursday, December 31st were issued a dividend of $0.06 per share. 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 payout ratio is 9.56%.

In related news, CEO David B. Becker bought 10,000 shares of First Internet Bancorp stock in a transaction that occurred on Thursday, December 17th. The stock was acquired at an average price of $27.93 per share, with a total value of $279,300.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.50% of the company’s stock.

INBK has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of First Internet Bancorp from $19.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Zacks Investment Research lowered shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Finally, Janney Montgomery Scott lowered shares of First Internet Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th.

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.

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Earnings History for First Internet Bancorp (NASDAQ:INBK)

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