First Internet Bancorp (NASDAQ:INBK) Stock Has Consensus Target Price of $29.38 According to Analysts

Key Points

• First Internet Bancorp has a “Moderate Buy” consensus rating from six analysts, with an average 12-month price target of $29.38. Ratings include one sell, two holds, two buys, and one strong buy.
• The stock opened at $26.26, near the middle of its $17.05–$31.09 one-year range. Benchmark raised its target to $35 with a buy rating, while Piper Sandler lifted its target to $29.50 but maintained a neutral rating.
• First Internet Bancorp reported quarterly EPS of $0.27, beating estimates of $0.15, although revenue came in below expectations and profitability remained weak. The company also declared a quarterly dividend of $0.06, representing a 0.9% annualized yield.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) has been given an average rating of "Moderate Buy" by the six research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $29.38.

Several equities analysts have weighed in on the company. Benchmark lifted their target price on First Internet Bancorp from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d+)" rating on shares of First Internet Bancorp in a research report on Friday, October 2nd. Piper Sandler increased their price target 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, Zacks Research upgraded shares of First Internet Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, September 28th.

First Internet Bancorp Stock Performance

Shares of INBK stock opened at $26.26 on Tuesday. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $31.09. 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 company has a market capitalization of $229.25 million, a price-to-earnings ratio of -7.29 and a beta of 0.87. The stock's fifty day simple moving average is $27.98 and its 200-day simple moving average is $25.89.

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

First Internet Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. First Internet Bancorp's dividend payout ratio is currently -6.67%.

Institutional Investors Weigh In On First Internet Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INBK. Corient Private Wealth LP acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at $253,000. Wellington Management Group LLP purchased a new stake in shares of First Internet Bancorp during the second quarter worth $1,649,000. Empowered Funds LLC acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at about $426,000. Public Employees Retirement System of Ohio acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at about $228,000. Finally, Bank of America Corp DE acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at about $1,444,000. Hedge funds and other institutional investors own 65.46% of the company's stock.

About First Internet Bancorp

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.

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