First Internet Bancorp (NASDAQ:INBK) Given New $23.00 Price Target at Keefe, Bruyette & Woods

First Internet Bancorp (NASDAQ:INBK) had its target price lowered by Keefe, Bruyette & Woods from $25.00 to $23.00 in a report released on Friday,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research raised shares of First Internet Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 25th. Piper Sandler dropped their price target on shares of First Internet Bancorp from $24.00 to $23.50 and set a “neutral” rating on the stock in a research note on Friday. Hovde Group lifted their price target on First Internet Bancorp from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of First Internet Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.17.

First Internet Bancorp Stock Down 2.0%

NASDAQ:INBK opened at $21.79 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $21.06 and a 200-day moving average of $21.93. The firm has a market capitalization of $189.70 million, a PE ratio of -5.41 and a beta of 0.81. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $34.21.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $42.11 million for the quarter, compared to the consensus estimate of $32.80 million. First Internet Bancorp had a negative return on equity of 1.52% and a negative net margin of 10.05%. Analysts predict that First Internet Bancorp will post 4.11 EPS for the current year.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. First Internet Bancorp’s dividend payout ratio is -5.96%.

Insider Transactions at First Internet Bancorp

In other news, COO Nicole S. Lorch purchased 2,000 shares of the stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $17.96 per share, for a total transaction of $35,920.00. Following the transaction, the chief operating officer owned 70,206 shares in the company, valued at $1,260,899.76. This trade represents a 2.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INBK. Tower Research Capital LLC TRC grew its holdings in First Internet Bancorp by 202.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,789 shares of the bank’s stock worth $48,000 after acquiring an additional 1,198 shares during the period. GAMMA Investing LLC grew its stake in shares of First Internet Bancorp by 1,123.5% in the 4th quarter. GAMMA Investing LLC now owns 3,181 shares of the bank’s stock worth $66,000 after purchasing an additional 2,921 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of First Internet Bancorp by 92.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,261 shares of the bank’s stock worth $208,000 after purchasing an additional 4,439 shares in the last quarter. Teton Advisors LLC bought a new stake in shares of First Internet Bancorp in the 3rd quarter worth approximately $224,000. Finally, Inscription Capital LLC acquired a new stake in First Internet Bancorp during the fourth quarter valued at approximately $229,000. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp News Roundup

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).