First Internet Bancorp (INBK) To Go Ex-Dividend on June 30th

First Internet Bancorp (NASDAQ:INBK) announced a quarterly dividend on Tuesday, June 16th. Investors 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) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th.

First Internet Bancorp has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.8%

Shares of NASDAQ INBK opened at $27.18 on Friday. The business has a 50 day simple moving average of $24.48 and a 200 day simple moving average of $22.31. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $28.51. The stock has a market cap of $237.01 million, a price-to-earnings ratio of -7.06 and a beta of 0.85. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88.

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

Institutional Trading of First Internet Bancorp

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of First Internet Bancorp by 18.6% during the first quarter. Bank of America Corp DE now owns 61,022 shares of the bank’s stock valued at $1,244,000 after purchasing an additional 9,563 shares during the period. Quantinno Capital Management LP lifted its position in First Internet Bancorp by 14.5% in the first quarter. Quantinno Capital Management LP now owns 162,421 shares of the bank’s stock worth $3,310,000 after purchasing an additional 20,582 shares during the period. Public Employees Retirement System of Ohio boosted its stake in First Internet Bancorp by 35.9% during the first quarter. Public Employees Retirement System of Ohio now owns 8,184 shares of the bank’s stock worth $167,000 after buying an additional 2,160 shares in the last quarter. Sei Investments Co. acquired a new stake in First Internet Bancorp during the first quarter worth $245,000. Finally, Aegis Financial Corp increased its holdings in First Internet Bancorp by 41.5% in the 1st quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock valued at $7,220,000 after buying an additional 103,941 shares during the period. Institutional investors 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).