First Internet Bancorp (INBK) Declares $0.06 Quarterly Dividend
First Internet Bancorp (NASDAQ:INBK) announced a quarterly dividend on Tuesday, September 19th, RTT News reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.06 per share by the bank on Monday, October 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.80%.
Shares of First Internet Bancorp (INBK) traded up 2.21% during midday trading on Tuesday, reaching $30.10. 241,403 shares of the company’s stock were exchanged. First Internet Bancorp has a 12-month low of $22.54 and a 12-month high of $33.35. The company has a market cap of $196.04 million, a price-to-earnings ratio of 13.55 and a beta of -0.06. The stock’s 50 day moving average price is $31.08 and its 200 day moving average price is $29.16.
First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.00 million. First Internet Bancorp had a net margin of 16.58% and a return on equity of 8.91%. Equities analysts anticipate that First Internet Bancorp will post $2.32 earnings per share for the current fiscal year.
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An institutional investor recently raised its position in First Internet Bancorp stock. The Manufacturers Life Insurance Company lifted its holdings in First Internet Bancorp (NASDAQ:INBK) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,144 shares of the bank’s stock after purchasing an additional 159 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of First Internet Bancorp worth $144,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 58.13% of the company’s stock.
Several brokerages recently weighed in on INBK. Zacks Investment Research raised shares of First Internet Bancorp from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $36.00 target price on shares of First Internet Bancorp in a report on Thursday, July 27th.
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.
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