First Internet Bancorp (INBK) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of First Internet Bancorp (NASDAQ:INBK) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “

Separately, Keefe, Bruyette & Woods began coverage on shares of First Internet Bancorp in a report on Tuesday, January 10th. They issued an outperform rating and a $36.00 price target for the company.

First Internet Bancorp (NASDAQ:INBK) opened at 28.75 on Wednesday. The company has a 50-day moving average of $30.67 and a 200 day moving average of $28.15. First Internet Bancorp has a one year low of $22.01 and a one year high of $33.00. The company has a market cap of $186.39 million, a P/E ratio of 12.50 and a beta of -0.08.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Thursday, January 19th. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.11. First Internet Bancorp had a net margin of 16.55% and a return on equity of 9.52%. Analysts anticipate that First Internet Bancorp will post $2.29 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. First Internet Bancorp’s dividend payout ratio is currently 10.48%.

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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