First Internet Bancorp (NASDAQ:INBK) Releases Earnings Results, Beats Expectations By $0.21 EPS

First Internet Bancorp (NASDAQ:INBK) released its earnings results on Thursday. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.21, FiscalAI reports. First Internet Bancorp had a negative return on equity of 1.54% and a negative net margin of 10.05%.The company had revenue of $43.12 million during the quarter, compared to analyst estimates of $45.67 million.

Here are the key takeaways from First Internet Bancorp’s conference call:

• Strong revenue and margin expansion: Total revenue was $43.1M (+21% YoY) with net interest income up ~26% and fully taxable-equivalent NIM widening to 2.45% (↑54 bps YoY), driving pre-provision net revenue up 51% to $18.1M.
• Banking‑as‑a‑Service / fintech deposits are scaling: Average fintech deposits rose to $2.4B (+186% YoY), $1.5B were moved off balance sheet, and total deposits reached $5.0B, helping lower funding costs and provide balance sheet flexibility.
• Elevated credit costs and problem portfolios remain a headwind: Q1 provision was $16.3M with net charge‑offs of $15.8M and NPLs of $61.6M (1.63% of loans), though management reports improving SBA and franchise delinquency trends and allowance coverage of 92% (122% ex‑guaranteed SBA balances).
• Outlook maintained but cautious: 2026 guidance was broadly kept, management warned loan growth targets may be hampered by payoffs and macro uncertainty, and expects NIM to improve ~10–15 bps per quarter to roughly 2.90% by Q4 if rates remain stable.
• Technology and fee diversification progressing: Continued AI/automation investments (fraud agents, virtual agents resolving ~45% of inquiries) and growing fintech fee income (fees up ~50% YoY with more partner onboardings) should support efficiency and non‑interest revenue growth.

First Internet Bancorp Stock Up 4.3%

Shares of NASDAQ:INBK traded up $0.98 during trading on Friday, hitting $23.90. The stock had a trading volume of 10,296 shares, compared to its average volume of 54,717. First Internet Bancorp has a 12 month low of $17.05 and a 12 month high of $28.51. The company has a market capitalization of $208.42 million, a PE ratio of -5.93 and a beta of 0.79. The firm’s fifty day moving average is $21.26 and its 200 day moving average is $20.77. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.99.

First Internet Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.0%. First Internet Bancorp’s dividend payout ratio is currently -5.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $24.00 target price on shares of First Internet Bancorp in a research note on Friday. Wall Street Zen raised First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Hovde Group boosted their target price on First Internet Bancorp from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Internet Bancorp in a research report on Friday, March 27th. Finally, Zacks Research raised First Internet Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, First Internet Bancorp has an average rating of “Hold” and an average target price of $25.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC raised its position in shares of First Internet Bancorp by 1.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock worth $992,000 after acquiring an additional 584 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of First Internet Bancorp by 19.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank’s stock worth $126,000 after acquiring an additional 1,000 shares in the last quarter. Empowered Funds LLC raised its position in shares of First Internet Bancorp by 7.1% in the 4th quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock worth $320,000 after acquiring an additional 1,012 shares in the last quarter. Man Group plc raised its position in shares of First Internet Bancorp by 5.1% in the 3rd quarter. Man Group plc now owns 21,818 shares of the bank’s stock worth $489,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Barclays PLC raised its position in shares of First Internet Bancorp by 4.1% in the 4th quarter. Barclays PLC now owns 28,685 shares of the bank’s stock worth $599,000 after acquiring an additional 1,141 shares in the last quarter. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Company Profile

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).