First Internet Bancorp (NASDAQ:INBK) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

First Internet Bancorp (NASDAQ:INBK - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.62 and traded as high as $29.43. First Internet Bancorp shares last traded at $29.21, with a volume of 24,154 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark lifted their price target on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wall Street Zen raised shares of First Internet Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Piper Sandler raised their price objective on First Internet Bancorp from $26.00 to $29.50 and gave the company a "neutral" rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on First Internet Bancorp from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded First Internet Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.38.

First Internet Bancorp Stock Down 0.2%

The company has a 50-day simple moving average of $26.64 and a 200-day simple moving average of $23.62. The firm has a market cap of $254.71 million, a PE ratio of -8.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.87.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last released its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $41.12 million during the quarter, compared to the consensus estimate 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. Analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

First Internet Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.8%. First Internet Bancorp's dividend payout ratio (DPR) is presently -6.67%.

Institutional Investors Weigh In On First Internet Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in shares of First Internet Bancorp by 202.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,789 shares of the bank's stock valued at $48,000 after acquiring an additional 1,198 shares in the last quarter. Deutsche Bank AG grew its stake in First Internet Bancorp by 4,390.4% in the fourth quarter. Deutsche Bank AG now owns 5,164 shares of the bank's stock worth $108,000 after purchasing an additional 5,049 shares in the last quarter. Versant Capital Management Inc increased its holdings in First Internet Bancorp by 7.3% during the 2nd quarter. Versant Capital Management Inc now owns 5,533 shares of the bank's stock worth $154,000 after purchasing an additional 376 shares during the period. Public Employees Retirement System of Ohio increased its holdings in First Internet Bancorp by 19.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank's stock worth $126,000 after purchasing an additional 1,000 shares during the period. Finally, Wells Fargo & Company MN raised its position in First Internet Bancorp by 62.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,759 shares of the bank's stock valued at $183,000 after purchasing an additional 3,379 shares in the last quarter. 65.46% of the stock is owned by hedge funds and other institutional investors.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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