726,936 Shares in First Internet Bancorp $INBK Acquired by BlackRock Inc.

BlackRock Inc. acquired a new position in shares of First Internet Bancorp (NASDAQ:INBK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 726,936 shares of the bank’s stock, valued at approximately $20,209,000. BlackRock Inc. owned about 0.08% of First Internet Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in INBK. Aegis Financial Corp acquired a new stake in shares of First Internet Bancorp in the 4th quarter worth $5,224,000. Patriot Financial Partners GP II L.P. acquired a new position in shares of First Internet Bancorp during the 3rd quarter valued at about $4,696,000. Heartland Advisors Inc. grew its holdings in shares of First Internet Bancorp by 33.4% in the first quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock valued at $7,844,000 after purchasing an additional 96,305 shares during the period. Simcoe Capital LLC purchased a new stake in shares of First Internet Bancorp in the fourth quarter valued at about $1,935,000. Finally, GSA Capital Partners LLP acquired a new stake in First Internet Bancorp during the second quarter worth about $1,491,000. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

First Internet Bancorp Price Performance

Shares of INBK opened at $28.46 on Thursday. The firm has a 50-day simple moving average of $27.84 and a two-hundred day simple moving average of $24.46. The stock has a market cap of $248.46 million, a PE ratio of -7.91 and a beta of 0.83. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $31.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.87.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $41.12 million for the quarter, compared to analyst estimates 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. As a group, analysts forecast that First Internet Bancorp will post 2.36 EPS for the current year.

First Internet Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, July 31st. 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. Benchmark raised their price target on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the stock currently 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 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).