First Internet Bancorp (NASDAQ:INBK) Stock Breaks Below 200-Day Moving Average - What's Next?

Key Points

• First Internet Bancorp shares fell below their 200-day moving average, reaching $25.57 compared with the $26.12 average, signaling potential technical weakness.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus rating of “Moderate Buy” and a $29.38 price target, despite ratings ranging from Strong Buy to Sell.
• The bank reported quarterly EPS of $0.27, exceeding the $0.15 estimate, and pays a quarterly dividend of $0.06 per share, representing a 0.9% annualized yield.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $26.12 and traded as low as $25.57. First Internet Bancorp shares last traded at $25.99, with a volume of 36,455 shares.

Analyst Ratings Changes

INBK has been the subject of several recent analyst reports. Zacks Research raised First Internet Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, September 28th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of First Internet Bancorp in a research report on Friday, October 2nd. Benchmark lifted their price target on First Internet Bancorp from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Piper Sandler lifted their price target on First Internet Bancorp from $26.00 to $29.50 and gave the stock a "neutral" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.38.

First Internet Bancorp Stock Performance

The company has a market cap of $226.89 million, a P/E ratio of -7.22 and a beta of 0.87. The company's 50-day moving average is $27.57 and its two-hundred day moving average is $26.12. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 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. Equities analysts predict that First Internet Bancorp will post 2.36 EPS for the current year.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 1st. First Internet Bancorp's dividend payout ratio is currently -6.67%.

Institutional Investors Weigh In On First Internet Bancorp

Large investors have recently modified their holdings of the stock. Corient Private Wealth LP bought a new position in First Internet Bancorp during the second quarter valued at $253,000. Wellington Management Group LLP purchased a new stake in First Internet Bancorp in the second quarter worth $1,649,000. Empowered Funds LLC purchased a new stake in First Internet Bancorp in the second quarter worth $426,000. Public Employees Retirement System of Ohio bought a new stake in shares of First Internet Bancorp in the second quarter valued at $228,000. Finally, Bank of America Corp DE bought a new stake in shares of First Internet Bancorp in the second quarter valued at $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.

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.