First Internet Bancorp (INBK) Stock Price, News & Analysis

Company Overview

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit. It also offers commercial and industrial, owner-occupied and investor commercial real estate, construction, residential mortgage, home equity, line of credit and home improvement, small installment, term, and other consumer loans, as well as single tenant lease financing, and public and healthcare finance; franchise finance; and small business lending. In addition, the company is involved in the purchase, manage, service, and safekeeping of municipal securities; and provision of public and municipal lending and leasing products to government entities. Further, the company offers corporate credit card and treasury management services. First Internet Bancorp was founded in 1998 and is headquartered in Fishers, Indiana.

Key Stats

• Today's Range: $39.84 to $40.10
• 50-Day Range: $30.50 to $42.44
• 52-Week Range: $18.65 to $42.89
• Volume: 2,201 shs
• Average Volume: 50,640 shs
• Market Capitalization: $345.41 million
• P/E Ratio: 15.69
• Dividend Yield: 0.60%
• Price Target: $42.88
• Consensus Rating: Moderate Buy

First Internet Bancorp Stock Analysis - MarketRank™

First Internet Bancorp scored higher than 73% of companies evaluated by MarketBeat, and ranked 359th out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

First Internet Bancorp has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 2 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

First Internet Bancorp has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 3.8 / 5
• Proj. Earnings Growth: 38.44%

Earnings Growth

Earnings for First Internet Bancorp are expected to grow by 38.44% in the coming year, from $3.07 to $4.25 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of First Internet Bancorp is 15.55, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.26.

Price to Earnings Ratio vs. Sector

The P/E ratio of First Internet Bancorp is 15.55, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 46.18.

Price to Book Value per Share Ratio

First Internet Bancorp has a P/B Ratio of 0.89. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.64% of the float of First Internet Bancorp has been sold short.

Short Interest Ratio / Days to Cover

First Internet Bancorp has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in First Internet Bancorp has recently decreased by 21.58%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

First Internet Bancorp has a dividend yield of 0.59%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

First Internet Bancorp does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of First Internet Bancorp is 9.45%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, First Internet Bancorp will have a dividend payout ratio of 5.65% next year. This indicates that First Internet Bancorp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.64% of the float of First Internet Bancorp has been sold short.

Short Interest Ratio / Days to Cover

First Internet Bancorp has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in First Internet Bancorp has recently decreased by 21.58%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.03

News Sentiment

First Internet Bancorp has a news sentiment score of 1.03. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.76 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for First Internet Bancorp this week, compared to 1 article on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, First Internet Bancorp insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 7.10% of the stock of First Internet Bancorp is held by insiders.

Percentage Held by Institutions

65.46% of the stock of First Internet Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

INBK Stock Analysis - Frequently Asked Questions

How have INBK shares performed this year?

First Internet Bancorp's stock was trading at $24.19 at the beginning of the year. Since then, INBK shares have increased by 63.3% and is now trading at $39.50.
View the best growth stocks for 2024 here.

How were First Internet Bancorp's earnings last quarter?

First Internet Bancorp (NASDAQ:INBK) issued its earnings results on Wednesday, October, 23rd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by $0.01. The bank had revenue of $87.02 million for the quarter, compared to analyst estimates of $32.50 million. First Internet Bancorp had a net margin of 6.92% and a trailing twelve-month return on equity of 6.06%.

Who are First Internet Bancorp's major shareholders?

Top institutional investors of First Internet Bancorp include Geode Capital Management LLC (2.33%), Hotchkis & Wiley Capital Management LLC (2.24%), Fiduciary Trust Co (2.21%) and Foundry Partners LLC (1.41%). Insiders that own company stock include David B Becker, Nicole S Lorch, John K Keach Jr, Aasif M Bade, Justin P Christian, Ann C Dee and Jerry L Williams.
View institutional ownership trends.

How do I buy shares of First Internet Bancorp?

Shares of INBK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of First Internet Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that First Internet Bancorp investors own include NVIDIA (NVDA), Broadcom (AVGO), Meta Platforms (META), Arista Networks (ANET), Adobe (ADBE), Jabil (JBL) and e.l.f. Beauty (ELF).

Company Calendar

• Ex-Dividend for 10/15 Dividend: 9/30/2024
• Dividend Payable: 10/15/2024
• Last Earnings: 10/23/2024
• Today: 11/20/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/22/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:INBK
• CUSIP: N/A
• CIK: 1562463
• Web: www.firstinternetbancorp.com
• Phone: (317) 532-7900
• Fax: 317-532-7901
• Employees: 290
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $42.88
• High Stock Price Target: $45.00
• Low Stock Price Target: $40.50
• Potential Upside/Downside: +8.5%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $2.54
• Trailing P/E Ratio: 15.55
• Forward P/E Ratio: 12.87
• P/E Growth: N/A
• Net Income: $8.42 million
• Net Margins: 6.92%
• Pretax Margin: 7.13%
• Return on Equity: 6.06%
• Return on Assets: 0.42%

Debt

• Debt-to-Equity Ratio: 1.61
• Current Ratio: 0.99
• Quick Ratio: 0.98

Sales & Book Value

• Annual Sales: $116.63 million
• Price / Sales: 2.94
• Cash Flow: $2.50 per share
• Price / Cash Flow: 15.82
• Book Value: $41.97 per share
• Price / Book: 0.94

Miscellaneous

• Outstanding Shares: 8,668,000
• Free Float: 7,992,000
• Market Cap: $342.39 million
• Optionable: Optionable
• Beta: 0.66