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

Key Points

• First Internet Bancorp declared a quarterly dividend of $0.06 per share, payable October 15 to shareholders of record October 1. The dividend implies an annualized yield of approximately 0.9% and is well covered by earnings.
• The bank reported quarterly EPS of $0.27, exceeding analysts’ $0.15 estimate, though revenue of $41.12 million fell short of the $43.83 million consensus.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $29.38 target price; shares opened at $27.61 and have traded between $17.05 and $31.09 over the past year.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) declared a quarterly dividend on Monday, September 21st. Investors of record on Thursday, October 1st will be paid a dividend of 0.06 per share by the bank on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st.

First Internet Bancorp has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Internet Bancorp to earn $4.30 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 5.6%.

First Internet Bancorp Stock Performance

INBK opened at $27.61 on Tuesday. First Internet Bancorp has a 12-month low of $17.05 and a 12-month high of $31.09. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $241.04 million, a PE ratio of -7.67 and a beta of 0.83. The firm has a 50 day moving average of $28.14 and a two-hundred day moving average of $25.19.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $41.12 million for the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. On average, analysts anticipate that First Internet Bancorp will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

INBK has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on First Internet Bancorp from $26.00 to $29.50 and gave the company a "neutral" rating in a research note on Friday, July 31st. Benchmark increased their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings raised First Internet Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of First Internet Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, First Internet Bancorp presently has a consensus rating of "Hold" and a consensus target price of $29.38.

First Internet Bancorp Company Profile

First Internet Bancorp is the bank holding company for First Internet Bank, a full-service digital financial institution headquartered in Fishers, Indiana. Founded in 1999, First Internet Bank was established as an internet-based bank and provides banking services through digital channels, supported by offices and lending operations serving customers in Indiana and other markets.

The bank offers commercial and consumer financial products, including checking and savings accounts, money market accounts, certificates of deposit, residential and commercial real estate lending, construction loans, commercial and industrial financing, small business lending, and municipal finance.

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