First Internet Bancorp (INBK) – What Are Investment Firms Thinking About This Stock?

First Internet Bancorp (NASDAQ:INBK) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $29.38.

Several brokerages have recently commented on INBK. Piper Sandler boosted their price objective on First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a report on Friday, July 31st. Weiss Ratings restated a “sell (d+)” rating on shares of First Internet Bancorp in a research report on Friday, October 2nd. Zacks Research upgraded shares of First Internet Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Finally, Benchmark raised their target price on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, July 31st.

Hedge Funds Weigh In On First Internet Bancorp

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in First Internet Bancorp in the second quarter valued at $20,209,000. Heartland Advisors Inc. bought a new stake in First Internet Bancorp during the second quarter worth about $10,450,000. Aegis Financial Corp lifted its stake in First Internet Bancorp by 41.5% during the first 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 last quarter. Quantinno Capital Management LP lifted its stake in First Internet Bancorp by 14.5% during 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 last quarter. Finally, Wellington Management Group LLP bought a new stake in First Internet Bancorp during the second quarter worth about $1,649,000. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Trading Down 0.4%

NASDAQ:INBK opened at $25.57 on Tuesday. First Internet Bancorp has a 52-week low of $17.05 and a 52-week high of $31.09. The stock has a fifty day moving average of $27.64 and a 200 day moving average of $26.09. 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 announced its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%. The business had revenue of $41.12 million for the quarter, compared to analyst estimates of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. On average, equities analysts forecast that First Internet Bancorp will post 2.36 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 1st. 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, a digital-focused financial institution headquartered in Fishers, Indiana. Founded in 1999, First Internet Bank was established as an internet-based bank and has expanded its services through online and mobile banking, as well as a network of banking offices.

First Internet Bank provides a range of deposit and lending products for individuals, businesses, and institutions. Its services include checking and savings accounts, certificates of deposit, commercial and industrial lending, commercial real estate and construction loans, residential mortgage lending, consumer loans, and small business lending.