First Internet Bancorp (NASDAQ:INBK) Downgraded by Wall Street Zen to “Sell”

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

INBK has been the topic of a number of other research reports. Piper Sandler reduced their target price on First Internet Bancorp from $24.00 to $23.50 and set a “neutral” rating on the stock in a research report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of First Internet Bancorp in a report on Monday, December 29th. Hovde Group upped their target price on shares of First Internet Bancorp from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday. Zacks Research upgraded shares of First Internet Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of First Internet Bancorp from $25.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.17.

First Internet Bancorp Stock Performance

First Internet Bancorp stock opened at $21.79 on Friday. The firm has a 50 day simple moving average of $21.06 and a 200-day simple moving average of $21.89. The stock has a market cap of $189.79 million, a price-to-earnings ratio of -5.41 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.91 and a quick ratio of 0.88. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $34.21.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. First Internet Bancorp had a negative net margin of 10.05% and a negative return on equity of 1.52%. The firm had revenue of $42.11 million for the quarter, compared to analyst estimates of $32.80 million. On average, analysts expect that First Internet Bancorp will post 4.11 EPS for the current year.

First Internet Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. First Internet Bancorp’s dividend payout ratio (DPR) is presently -5.96%.

Insider Buying and Selling at First Internet Bancorp

In other First Internet Bancorp news, COO Nicole S. Lorch bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $17.96 per share, with a total value of $35,920.00. Following the purchase, the chief operating officer directly owned 70,206 shares in the company, valued at approximately $1,260,899.76. This represents a 2.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On First Internet Bancorp

Several institutional investors have recently modified their holdings of the business. Bridgeway Capital Management LLC raised its stake in shares of First Internet Bancorp by 1.3% in the third quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock valued at $992,000 after acquiring an additional 584 shares in the last quarter. Man Group plc increased its holdings in First Internet Bancorp by 5.1% during the 3rd quarter. Man Group plc now owns 21,818 shares of the bank’s stock worth $489,000 after purchasing an additional 1,053 shares during the period. Tower Research Capital LLC TRC raised its position in First Internet Bancorp by 202.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,789 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,198 shares in the last quarter. Sowell Financial Services LLC raised its position in First Internet Bancorp by 13.2% in the 4th quarter. Sowell Financial Services LLC now owns 11,122 shares of the bank’s stock valued at $232,000 after purchasing an additional 1,301 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of First Internet Bancorp by 4.9% in the 2nd quarter. First Trust Advisors LP now owns 31,683 shares of the bank’s stock valued at $852,000 after buying an additional 1,474 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

Key Stories Impacting First Internet Bancorp

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

• Positive Sentiment: Q4 beat — INBK reported $0.64 EPS vs. $0.59 expected and revenue of $42.1M vs. $32.8M consensus; management highlighted strong net interest income (up ~29%) and revenue momentum. This is the primary bullish catalyst supporting upside. Business Wire – Q4 Results
• Positive Sentiment: Analyst upgrade/raise — Hovde Group raised its price target from $26 to $29 and moved to an “outperform” rating, implying material upside from current levels and giving fundamental validation to the quarter’s strength. The Fly – Hovde Raise
• Neutral Sentiment: Earnings call/transcript available — Analysts and investors can review management’s commentary on revenue mix, margin outlook and deposit/loan trends in the call transcript and highlights to gauge sustainability of the quarter’s growth. These details could swing sentiment once parsed. Yahoo Finance – Q4 Highlights
• Neutral Sentiment: Short interest data shows no meaningful short position (reporting shows 0 shares), which appears anomalous and shouldn’t be treated as a clear signal until corrected by exchanges.
• Negative Sentiment: Analyst downgrade/price-target cut — Keefe, Bruyette & Woods lowered its target from $25 to $23 and set a “market perform” rating, reducing a portion of the street’s upside and likely contributing to intraday selling pressure. Benzinga – KBW Cut
• Negative Sentiment: Profitability concerns — despite revenue growth, INBK still reported a negative net margin and negative return on equity for the quarter; longer-term profitability and ROE normalization will be required to justify higher multiples. MarketBeat – Earnings Summary

First Internet Bancorp Company Profile

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).