First Internet Bancorp (NASDAQ:INBK) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

First Internet Bancorp (NASDAQ:INBK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.62 and traded as high as $29.43. First Internet Bancorp shares last traded at $29.21, with a volume of 24,154 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Benchmark lifted their price objective on First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, Piper Sandler lifted their price target on shares of First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a report on Friday, July 31st. 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 company’s stock. According to MarketBeat.com, First Internet Bancorp currently has an average rating of “Hold” and a consensus target price of $29.38.

First Internet Bancorp Trading Down 0.2%

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 company has a market cap of $254.62 million, a price-to-earnings ratio of -8.11 and a beta of 0.83. The business has a 50 day simple moving average of $26.64 and a 200 day simple moving average of $23.62.

First Internet Bancorp (NASDAQ:INBK) last announced its earnings results on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate 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 company had revenue of $41.12 million for the quarter, compared to analysts’ expectations of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, equities analysts forecast that First Internet Bancorp will post 2.36 EPS for the current year.

First Internet Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. First Internet Bancorp’s dividend payout ratio (DPR) is presently -6.67%.

Hedge Funds Weigh In On First Internet Bancorp

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of First Internet Bancorp by 78.5% in the first quarter. Royal Bank of Canada now owns 13,789 shares of the bank’s stock valued at $369,000 after purchasing an additional 6,064 shares in the last quarter. Empowered Funds LLC grew its position in shares of First Internet Bancorp by 81.4% during the 1st quarter. Empowered Funds LLC now owns 13,135 shares of the bank’s stock worth $352,000 after buying an additional 5,893 shares during the period. Jane Street Group LLC acquired a new stake in shares of First Internet Bancorp during the 1st quarter worth approximately $297,000. First Trust Advisors LP raised its stake in shares of First Internet Bancorp by 4.9% during the second quarter. First Trust Advisors LP now owns 31,683 shares of the bank’s stock worth $852,000 after buying an additional 1,474 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in First Internet Bancorp in the second quarter valued at approximately $236,000. 65.46% of the stock is currently owned by institutional investors and hedge funds.

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).