First Internet Bancorp (NASDAQ:INBK) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of First Internet Bancorp (NASDAQ:INBK) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of First Internet Bancorp in a report on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on First Internet Bancorp from $27.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday. Benchmark upped their price objective on First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Piper Sandler increased their target price on 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 downgraded First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. 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’s stock. According to data from MarketBeat.com, First Internet Bancorp has an average rating of “Hold” and an average target price of $30.62.

First Internet Bancorp Price Performance

NASDAQ INBK opened at $25.81 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95. First Internet Bancorp has a 12 month low of $17.05 and a 12 month high of $31.09. The stock has a market cap of $225.32 million, a price-to-earnings ratio of 15.18 and a beta of 0.87. The company’s 50 day moving average is $27.17 and its two-hundred day moving average is $24.72.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). The firm had revenue of $43.94 million during the quarter, compared to analysts’ expectations of $46.17 million. First Internet Bancorp had a return on equity of 4.32% and a net margin of 4.27%. As a group, research analysts anticipate that First Internet Bancorp will post 2.25 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, October 1st. First Internet Bancorp’s dividend payout ratio (DPR) is 14.12%.

Institutional Trading of First Internet Bancorp

A number of hedge funds have recently bought and sold shares of INBK. BlackRock Inc. purchased a new stake in shares of First Internet Bancorp during the 2nd quarter worth $20,209,000. Heartland Advisors Inc. increased its position in shares of First Internet Bancorp by 33.4% during the first quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock worth $7,844,000 after purchasing an additional 96,305 shares in the last quarter. Aegis Financial Corp increased 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 worth $7,220,000 after purchasing an additional 103,941 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of First Internet Bancorp by 14.5% during the 1st quarter. Quantinno Capital Management LP now owns 162,421 shares of the bank’s stock valued at $3,310,000 after purchasing an additional 20,582 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of First Internet Bancorp by 18.6% during the 1st quarter. Bank of America Corp DE now owns 61,022 shares of the bank’s stock valued at $1,244,000 after purchasing an additional 9,563 shares during the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Trending Headlines about First Internet Bancorp

Here are the key news stories impacting First Internet Bancorp this week:

• Positive Sentiment: Improved operating performance and outlook: Third-quarter revenue reached a record $43.9 million, up 7% sequentially. Net interest income rose 7%, net interest margin expanded to 2.47%, deposits increased 7% to $5.15 billion, and net charge-offs declined to 0.82% from 1.77%. Management expects fourth-quarter diluted EPS of $1.02-$1.07 and net interest margin of 2.75%-2.80%. First Internet Bancorp Reports Record Third-Quarter Revenue
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $29 from $27 while maintaining a “market perform” rating, implying roughly 12% upside from the referenced share price. The target increase reflects some confidence in the bank’s earnings outlook, though the neutral rating limits the bullish signal. Keefe, Bruyette and Woods Price Target Update
• Neutral Sentiment: Management’s earnings call will provide additional detail on credit quality, deposit growth, margins and the elevated fourth-quarter earnings forecast. Investors are likely to focus on whether the projected improvement is sustainable. First Internet Bancorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Third-quarter earnings missed expectations: EPS was reported at $0.57 versus the $0.78 consensus estimate, while revenue of $43.94 million came in below the $46.17 million forecast. The earnings miss, along with negative net margin and return on equity figures cited in the reports, likely contributed to the stock’s decline. First Internet Bancorp Lags Q3 Earnings and Revenue Estimates
• Negative Sentiment: Zacks Research downgraded INBK from “strong buy” to “hold,” adding to near-term investor caution following the earnings shortfall. Zacks Research Rating Update

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.