First Internet Bancorp (NASDAQ:INBK – Get Free Report) has been given an average recommendation of “Hold” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $30.62.
INBK has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of First Internet Bancorp in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of First Internet Bancorp from $27.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, October 30th. Wall Street Zen lowered First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Benchmark lifted their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research lowered First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th.
Read Our Latest Research Report on First Internet Bancorp
Hedge Funds Weigh In On First Internet Bancorp
Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of 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. R Squared Ltd bought a new stake in shares of First Internet Bancorp during the 3rd quarter worth about $211,000. Deutsche Bank AG bought a new position in First Internet Bancorp in the second quarter valued at about $223,000. Public Employees Retirement System of Ohio lifted its holdings in shares of First Internet Bancorp by 35.9% in the first quarter. Public Employees Retirement System of Ohio now owns 8,184 shares of the bank’s stock valued at $167,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new position in shares of First Internet Bancorp during the 2nd quarter valued at $235,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.
First Internet Bancorp Trading Down 1.6%
Shares of NASDAQ INBK opened at $25.37 on Friday. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $31.09. 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 business has a fifty day moving average price of $26.98 and a 200 day moving average price of $24.84. The stock has a market capitalization of $221.48 million, a P/E ratio of 14.92 and a beta of 0.86.
First Internet Bancorp (NASDAQ:INBK – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). The company had revenue of $43.94 million during the quarter, compared to analyst estimates of $46.17 million. First Internet Bancorp had a net margin of 4.27% and a return on equity of 4.32%. Equities research analysts expect that First Internet Bancorp will post 2.18 EPS for the current fiscal year.
First Internet Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.24 annualized dividend and a yield of 0.9%. First Internet Bancorp’s dividend payout ratio (DPR) is currently 14.12%.
First Internet Bancorp Company Profile
First Internet Bancorp is a bank holding company headquartered in Fishers, Indiana. Its principal subsidiary, First Internet Bank, provides a range of banking products and financial services to businesses, organizations and individual consumers.
First Internet Bank’s offerings include commercial and industrial lending, commercial real estate financing, small business and SBA loans, public finance, residential mortgage lending, consumer loans, deposit accounts and treasury management services.
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