First Internet Bancorp (NASDAQ:INBK – Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 154,400 shares, an increase of 5.7% from the August 15th total of 146,100 shares. Based on an average daily volume of 63,200 shares, the short-interest ratio is presently 2.4 days. Currently, 2.1% of the company’s shares are sold short.
First Internet Bancorp Price Performance
INBK stock traded up $0.25 during mid-day trading on Tuesday, reaching $35.40. 20,340 shares of the company’s stock were exchanged, compared to its average volume of 54,302. The company has a market cap of $306.42 million, a price-to-earnings ratio of 18.63 and a beta of 0.66. First Internet Bancorp has a 12-month low of $14.11 and a 12-month high of $39.46. The stock’s 50 day moving average is $34.46 and its 200 day moving average is $31.91. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.02 and a quick ratio of 1.01.
First Internet Bancorp (NASDAQ:INBK – Get Free Report) last announced its earnings results on Wednesday, July 24th. The bank reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $81.99 million for the quarter, compared to analysts’ expectations of $30.55 million. First Internet Bancorp had a net margin of 6.12% and a return on equity of 5.23%. During the same quarter in the previous year, the company posted $0.44 EPS. On average, research analysts expect that First Internet Bancorp will post 3 EPS for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Hovde Group increased their price objective on shares of First Internet Bancorp from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Craig Hallum upped their price objective on First Internet Bancorp from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on First Internet Bancorp from $36.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted their target price on shares of First Internet Bancorp from $30.00 to $40.50 and gave the stock a “neutral” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Internet Bancorp has a consensus rating of “Hold” and an average target price of $42.88.
View Our Latest Research Report on INBK
About First Internet Bancorp
First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.
Featured Stories
- Five stocks we like better than First Internet Bancorp
- Market Cap Calculator: How to Calculate Market Cap
- Galmed Pharmaceuticals Surges 400%: What’s Behind the Explosion?
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Gold Hits New All-Time Highs: 3 Stocks to Ride the Surge
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Intel: Why It’s Time to Reconsider This Beaten-Down Chipmaker
Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.