First Internet Bancorp (INBK) to Issue Quarterly Dividend of $0.06 on July 15th

First Internet Bancorp (NASDAQ:INBK) declared a quarterly dividend on Tuesday, June 16th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.06 per share by the bank on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th.

First Internet Bancorp has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Internet Bancorp to earn $4.43 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 5.4%.

First Internet Bancorp Stock Down 2.4%

Shares of NASDAQ INBK opened at $25.16 on Thursday. The company has a market capitalization of $219.40 million, a P/E ratio of -6.54 and a beta of 0.85. First Internet Bancorp has a 52-week low of $17.05 and a 52-week high of $28.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88. The company’s 50 day moving average price is $24.04 and its 200-day moving average price is $22.00.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Thursday, April 30th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.21. The firm had revenue of $43.12 million for the quarter, compared to the consensus estimate of $45.67 million. First Internet Bancorp had a negative net margin of 9.60% and a negative return on equity of 1.14%. Equities analysts forecast that First Internet Bancorp will post 1.98 earnings per share for the current year.

Institutional Trading of First Internet Bancorp

Several large investors have recently modified their holdings of INBK. Vanguard Group Inc. increased its stake in First Internet Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 435,025 shares of the bank’s stock valued at $9,758,000 after purchasing an additional 5,632 shares in the last quarter. Heartland Advisors Inc. increased its stake in First Internet Bancorp by 33.4% during the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock valued at $7,844,000 after purchasing an additional 96,305 shares in the last quarter. Aegis Financial Corp increased its stake in First Internet Bancorp by 41.5% during the 1st quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 103,941 shares in the last quarter. Patriot Financial Partners GP II L.P. bought a new stake in First Internet Bancorp during the 3rd quarter valued at $4,696,000. Finally, CSM Advisors LLC increased its stake in First Internet Bancorp by 35.9% during the 4th quarter. CSM Advisors LLC now owns 191,854 shares of the bank’s stock valued at $4,005,000 after purchasing an additional 50,695 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

About First Internet Bancorp

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).