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

First Internet Bancorp (NASDAQ:INBK) declared a quarterly dividend on Tuesday, March 17th. Stockholders 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) annualized dividend 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. 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 Stock Down 0.7%

INBK opened at $19.88 on Friday. First Internet Bancorp has a one year low of $17.05 and a one year high of $28.51. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.86 and a current ratio of 0.88. The stock’s fifty day moving average is $20.88 and its 200-day moving average is $20.87. The company has a market capitalization of $173.35 million, a PE ratio of -4.93 and a beta of 0.83.

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, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $42.11 million during the quarter, compared to analysts’ expectations of $32.80 million. First Internet Bancorp had a negative return on equity of 1.54% and a negative net margin of 10.05%. On average, equities analysts predict 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).