First Internet Bancorp (NASDAQ:INBK) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $31.00.
INBK has been the topic of a number of recent analyst reports. ValuEngine raised shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Craig Hallum initiated coverage on shares of First Internet Bancorp in a research report on Monday, December 23rd. They issued a “buy” rating and a $33.00 price objective on the stock. Hovde Group raised shares of First Internet Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Zacks Investment Research lowered shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 1st.
NASDAQ:INBK opened at $24.19 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market capitalization of $235.65 million, a price-to-earnings ratio of 11.30 and a beta of 0.61. First Internet Bancorp has a one year low of $17.56 and a one year high of $25.06. The business has a fifty day moving average price of $23.70 and a 200-day moving average price of $21.89.
First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. First Internet Bancorp had a net margin of 14.03% and a return on equity of 8.05%. The company had revenue of $20.80 million for the quarter, compared to analyst estimates of $19.50 million. On average, equities research analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Monday, December 30th. First Internet Bancorp’s dividend payout ratio (DPR) is presently 9.60%.
Several large investors have recently modified their holdings of INBK. Vanguard Group Inc. increased its holdings in First Internet Bancorp by 22.0% during the second quarter. Vanguard Group Inc. now owns 536,752 shares of the bank’s stock valued at $11,562,000 after buying an additional 96,683 shares during the period. BlackRock Inc. increased its holdings in First Internet Bancorp by 11.4% during the second quarter. BlackRock Inc. now owns 604,808 shares of the bank’s stock valued at $13,027,000 after buying an additional 61,866 shares during the period. Victory Capital Management Inc. increased its holdings in First Internet Bancorp by 25.3% during the second quarter. Victory Capital Management Inc. now owns 57,800 shares of the bank’s stock valued at $1,245,000 after buying an additional 11,673 shares during the period. Donaldson Capital Management LLC purchased a new position in First Internet Bancorp during the third quarter valued at approximately $227,000. Finally, Citadel Advisors LLC acquired a new stake in First Internet Bancorp in the second quarter valued at approximately $203,000. 69.34% of the stock is currently owned by institutional investors and hedge funds.
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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