First Internet Bancorp (NASDAQ:INBK) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of First Internet Bancorp (NASDAQ:INBK) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.38.

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of First Internet Bancorp in a research note on Friday, October 2nd. Benchmark increased their target price on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research raised shares of First Internet Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Finally, 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 report on Friday, July 31st.

First Internet Bancorp Stock Performance

INBK stock opened at $26.26 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $229.25 million, a price-to-earnings ratio of -7.29 and a beta of 0.87. First Internet Bancorp has a 12 month low of $17.05 and a 12 month high of $31.09. The firm has a 50 day moving average of $27.98 and a two-hundred day moving average of $25.89.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly 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. The company 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, equities analysts anticipate 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 will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 1st. First Internet Bancorp’s dividend payout ratio is -6.67%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in First Internet Bancorp during the second quarter valued at approximately $1,649,000. Heartland Advisors Inc. bought a new position in shares of First Internet Bancorp in the second quarter valued at approximately $10,450,000. GSA Capital Partners LLP bought a new position in shares of First Internet Bancorp in the second quarter valued at approximately $1,491,000. Aegis Financial Corp lifted its stake in shares of First Internet Bancorp by 41.5% in the first quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock worth $7,220,000 after buying an additional 103,941 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of First Internet Bancorp in the second quarter worth $20,209,000. Institutional investors and hedge funds own 65.46% of the company’s stock.

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.