First Internet Bancorp (NASDAQ:INBK) Given Average Rating of "Hold" by Analysts

Key Points

• First Internet Bancorp carries an average “Hold” rating from six analysts: three holds, two buys, and one sell. The average 1-year price target is $29.38, compared with the reported share price of $27.64.
• The bank reported quarterly EPS of $0.27, beating the $0.15 consensus estimate, although revenue of $41.12 million fell short of analysts’ $43.83 million estimate. It also reported negative net margin and return on equity.
• Institutional ownership stands at 65.46%, with BlackRock initiating an approximately $20.2 million position and several other hedge funds increasing their holdings.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) has been assigned an average rating of "Hold" from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $29.3750.

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

First Internet Bancorp Stock Performance

Shares of INBK opened at $27.64 on Friday. First Internet Bancorp has a one year low of $17.05 and a one year high of $31.09. The business has a fifty day moving average of $28.08 and a 200 day moving average of $25.09. 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 firm has a market capitalization of $241.41 million, a P/E ratio of -7.68 and a beta of 0.83.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. The firm had revenue of $41.12 million during the quarter, compared to analyst estimates of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, sell-side analysts anticipate that First Internet Bancorp will post 2.36 EPS for the current year.

Hedge Funds Weigh In On First Internet Bancorp

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in First Internet Bancorp during the 2nd quarter valued at approximately $20,209,000. Heartland Advisors Inc. grew its holdings in First Internet Bancorp by 33.4% during the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank's stock valued at $7,844,000 after buying an additional 96,305 shares in the last quarter. Aegis Financial Corp raised its position in shares of First Internet Bancorp by 41.5% during the first quarter. Aegis Financial Corp now owns 354,261 shares of the bank's stock valued at $7,220,000 after buying an additional 103,941 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of First Internet Bancorp by 14.5% in the first quarter. Quantinno Capital Management LP now owns 162,421 shares of the bank's stock worth $3,310,000 after buying an additional 20,582 shares in the last quarter. Finally, Gator Capital Management LLC boosted its position in shares of First Internet Bancorp by 62.7% during the fourth quarter. Gator Capital Management LLC now owns 75,555 shares of the bank's stock worth $1,577,000 after acquiring an additional 29,122 shares during the last quarter. 65.46% of the stock is currently owned by institutional investors.

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.

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