First Internet Bancorp (NASDAQ:INBK) Receives Consensus Recommendation of “Hold” from Brokerages

First Internet Bancorp (NASDAQ:INBK) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.3750.

INBK has been the subject of a number of recent research reports. Wall Street Zen raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Benchmark increased their target price on First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Piper Sandler lifted their price objective on shares of First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th.

Institutional Trading of First Internet Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in 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 buying an additional 376 shares in the last quarter. Bridgeway Capital Management LLC grew its position in First Internet Bancorp by 1.3% during the third quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock valued at $992,000 after buying an additional 584 shares during the period. GSA Capital Partners LLP increased its holdings in First Internet Bancorp by 1.5% in the fourth quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock valued at $1,006,000 after buying an additional 691 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in First Internet Bancorp by 19.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank’s stock valued at $126,000 after buying an additional 1,000 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of First Internet Bancorp by 7.1% in the fourth quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock worth $320,000 after acquiring an additional 1,012 shares during the period. 65.46% of the stock is owned by institutional investors and hedge funds.

First Internet Bancorp Stock Performance

Shares of First Internet Bancorp stock opened at $28.01 on Monday. 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’s fifty day moving average price is $27.73 and its 200-day moving average price is $24.32. The firm has a market cap of $244.53 million, a P/E ratio of -7.78 and a beta of 0.83. First Internet Bancorp has a 12 month low of $17.05 and a 12 month high of $31.09.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data 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. The company had revenue of $41.12 million during 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. On average, equities research analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.06 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. First Internet Bancorp’s dividend payout ratio is presently -6.67%.

About First Internet Bancorp

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).