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

First Internet Bancorp (NASDAQ:INBK) posted its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share 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%.

Shares of NASDAQ:INBK traded down $0.27 during trading on Thursday, hitting $31.13. 178 shares of the company’s stock were exchanged, compared to its average volume of 43,343. First Internet Bancorp has a 1-year low of $13.99 and a 1-year high of $41.55. The company’s 50-day moving average is $32.47. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market capitalization of $306.63 million, a price-to-earnings ratio of 9.15 and a beta of 0.81.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Thursday, July 1st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date 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.

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 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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