First Internet Bancorp (NASDAQ:INBK) to Issue $0.06 Quarterly Dividend

First Internet Bancorp (NASDAQ:INBK) announced a quarterly dividend on Tuesday, March 17th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.06 per share by the bank on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st.

First Internet Bancorp has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Internet Bancorp to earn $4.95 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 4.8%.

First Internet Bancorp Trading Down 1.0%

INBK opened at $19.41 on Wednesday. The stock has a market capitalization of $169.20 million, a P/E ratio of -4.82 and a beta of 0.83. First Internet Bancorp has a 12 month low of $17.05 and a 12 month high of $30.00. The firm’s fifty day simple moving average is $21.09 and its 200 day simple moving average is $21.10. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.99.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Thursday, January 29th. The bank reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $42.11 million during the quarter, compared to analyst estimates of $32.80 million. First Internet Bancorp had a negative net margin of 10.05% and a negative return on equity of 1.54%. As a group, research analysts anticipate that First Internet Bancorp will post 4.11 EPS for the current fiscal year.

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).