First Internet Bancorp (NASDAQ:INBK) Receives Consensus Rating of “Hold” from Brokerages

Shares of First Internet Bancorp (NASDAQ:INBK) have earned an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.3750.

A number of brokerages have recently issued reports on INBK. Piper Sandler boosted their price target on shares of First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods boosted their target price on shares of First Internet Bancorp from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Finally, Benchmark upped their price target on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 31st.

Institutional Investors Weigh In On First Internet Bancorp

Large investors have recently added to or reduced their stakes in the business. Heartland Advisors Inc. grew its position in shares of First Internet Bancorp by 33.4% during the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock valued at $7,844,000 after acquiring an additional 96,305 shares during the period. Aegis Financial Corp raised its holdings in shares of First Internet Bancorp by 41.5% in the 1st quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock worth $7,220,000 after purchasing an additional 103,941 shares during the period. GSA Capital Partners LLP purchased a new position in First Internet Bancorp in the second quarter valued at approximately $1,491,000. Gator Capital Management LLC lifted its stake in First Internet Bancorp by 62.7% in the fourth quarter. Gator Capital Management LLC now owns 75,555 shares of the bank’s stock valued at $1,577,000 after purchasing an additional 29,122 shares during the last quarter. Finally, Simcoe Capital LLC bought a new position in First Internet Bancorp during the fourth quarter valued at $1,935,000. Institutional investors and hedge funds own 65.46% of the company’s stock.

First Internet Bancorp Price Performance

First Internet Bancorp stock opened at $29.20 on Monday. The stock’s 50 day moving average is $27.50 and its 200 day moving average is $24.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $254.92 million, a P/E ratio of -8.11 and a beta of 0.83. First Internet Bancorp has a one year low of $17.05 and a one year high of $31.09.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results 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 analysts’ expectations of $43.83 million. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%.First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, research analysts expect that First Internet Bancorp will post 2.36 EPS for the current year.

First Internet Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. First Internet Bancorp’s payout ratio is currently -6.67%.

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).