First Internet Bancorp (NASDAQ:INBK) announced its quarterly earnings results on Thursday. The bank reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02, Yahoo Finance reports. The company had revenue of $17.90 million during the quarter, compared to the consensus estimate of $19.00 million. First Internet Bancorp had a net margin of 17.60% and a return on equity of 8.87%.

First Internet Bancorp (NASDAQ:INBK) traded up $0.40 during trading hours on Friday, reaching $40.55. 6,374 shares of the company’s stock were exchanged, compared to its average volume of 25,092. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.01. First Internet Bancorp has a fifty-two week low of $25.48 and a fifty-two week high of $42.40. The company has a market cap of $340.65 and a P/E ratio of 16.97.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, December 28th. First Internet Bancorp’s dividend payout ratio (DPR) is presently 10.04%.

An institutional investor recently raised its position in First Internet Bancorp stock. State Street Corp boosted its stake in First Internet Bancorp (NASDAQ:INBK) by 9.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,075 shares of the bank’s stock after purchasing an additional 6,924 shares during the period. State Street Corp owned approximately 1.20% of First Internet Bancorp worth $2,189,000 at the end of the most recent quarter. 63.87% of the stock is owned by institutional investors.

Several brokerages recently weighed in on INBK. Zacks Investment Research raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Friday, January 12th. Hovde Group raised their price target on shares of First Internet Bancorp from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. TheStreet raised shares of First Internet Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, November 16th. BidaskClub downgraded shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, ValuEngine downgraded shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. First Internet Bancorp presently has a consensus rating of “Buy” and an average target price of $43.75.

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First Internet Bancorp Company Profile

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

Earnings History for First Internet Bancorp (NASDAQ:INBK)

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