First Internet Bancorp (NASDAQ:INBK) Stock Rated “Hold” by Sell-Side Brokerages

Shares of First Internet Bancorp (NASDAQ:INBK) have been given a consensus recommendation of “Hold” by the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.38.

Several equities analysts have issued reports on INBK shares. Wall Street Zen upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Benchmark increased their target price on First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler raised their target price 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. Finally, Weiss Ratings raised First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th.

Hedge Funds Weigh In On First Internet Bancorp

A number of institutional investors have recently modified their holdings of INBK. Versant Capital Management Inc raised its holdings in shares of First Internet Bancorp by 7.3% during the second quarter. Versant Capital Management Inc now owns 5,533 shares of the bank’s stock worth $154,000 after acquiring an additional 376 shares during the period. GSA Capital Partners LLP boosted its stake in First Internet Bancorp by 1.5% in the 4th quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock worth $1,006,000 after purchasing an additional 691 shares during the period. Public Employees Retirement System of Ohio boosted its stake in First Internet Bancorp by 35.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,184 shares of the bank’s stock worth $167,000 after purchasing an additional 2,160 shares during the period. Strs Ohio increased its holdings in First Internet Bancorp by 13.0% during the 1st quarter. Strs Ohio now owns 27,900 shares of the bank’s stock worth $569,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Odyssean LLC increased its holdings in First Internet Bancorp by 32.7% during the 2nd quarter. Odyssean LLC now owns 15,407 shares of the bank’s stock worth $428,000 after purchasing an additional 3,800 shares in the last quarter. 65.46% of the stock is owned by institutional investors.

First Internet Bancorp Price Performance

Shares of First Internet Bancorp stock opened at $26.04 on Friday. 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 stock has a market capitalization of $227.33 million, a price-to-earnings ratio of -7.23 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 firm’s 50-day moving average price is $28.12 and its two-hundred day moving average price is $25.33.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $41.12 million during the quarter, compared to analysts’ expectations 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, equities analysts predict that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. First Internet Bancorp’s dividend payout ratio (DPR) is presently -6.67%.

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.