First Internet Bancorp (NASDAQ:INBK) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.00.

INBK has been the topic of a number of recent research reports. ValuEngine raised First Internet Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 22nd. Zacks Investment Research cut First Internet Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 30th. FIG Partners cut First Internet Bancorp from an “outperform” rating to a “market perform” rating in a research report on Friday, January 25th. Hovde Group cut First Internet Bancorp from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research report on Monday, January 28th. Finally, Maxim Group cut First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 25th.

Shares of NASDAQ INBK traded up $0.74 during trading on Friday, reaching $22.99. 69,933 shares of the stock traded hands, compared to its average volume of 46,925. First Internet Bancorp has a 52-week low of $17.56 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $232.31 million, a PE ratio of 9.20 and a beta of 0.56.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.12. First Internet Bancorp had a return on equity of 8.21% and a net margin of 16.21%. The firm had revenue of $18.62 million for the quarter, compared to analysts’ expectations of $17.30 million. As a group, equities analysts expect that First Internet Bancorp will post 2.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. First Internet Bancorp’s payout ratio is 9.60%.

A number of hedge funds and other institutional investors have recently made changes to their positions in INBK. BNP Paribas Arbitrage SA increased its position in shares of First Internet Bancorp by 546.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,057 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,739 shares during the last quarter. Southside Capital LLC bought a new position in shares of First Internet Bancorp during the 4th quarter valued at about $96,000. Barclays PLC increased its position in shares of First Internet Bancorp by 27.5% during the 4th quarter. Barclays PLC now owns 5,900 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,271 shares during the last quarter. Nwam LLC increased its position in shares of First Internet Bancorp by 33.0% during the 4th quarter. Nwam LLC now owns 10,274 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of First Internet Bancorp during the 4th quarter valued at about $253,000. Institutional investors and hedge funds own 71.40% of the company’s stock.

First Internet Bancorp Company Profile

First Internet Bancorp operates as a bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers savings and money market accounts, non-interest bearing and interest-bearing demand deposits, brokered deposit accounts, and certificates of deposit.

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