First Internet Bancorp (NASDAQ:INBK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of First Internet Bancorp (NASDAQ:INBK) have received an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.00.

A number of research analysts recently commented on INBK shares. ValuEngine cut First Internet Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded First Internet Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, Maxim Group reiterated a “hold” rating on shares of First Internet Bancorp in a report on Monday, April 29th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connors Investor Services Inc. lifted its holdings in First Internet Bancorp by 5.5% in the first quarter. Connors Investor Services Inc. now owns 114,041 shares of the bank’s stock valued at $2,204,000 after acquiring an additional 5,950 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in First Internet Bancorp by 5.7% in the fourth quarter. Penn Capital Management Co. Inc. now owns 153,363 shares of the bank’s stock valued at $3,135,000 after acquiring an additional 8,321 shares during the last quarter. BlackRock Inc. lifted its holdings in First Internet Bancorp by 8.1% in the fourth quarter. BlackRock Inc. now owns 553,955 shares of the bank’s stock valued at $11,323,000 after acquiring an additional 41,380 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in First Internet Bancorp by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 38,300 shares of the bank’s stock valued at $783,000 after acquiring an additional 550 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in First Internet Bancorp by 546.9% during the first quarter. BNP Paribas Arbitrage SA now owns 2,057 shares of the bank’s stock worth $40,000 after purchasing an additional 1,739 shares in the last quarter. Hedge funds and other institutional investors own 68.75% of the company’s stock.



Shares of First Internet Bancorp stock opened at $21.06 on Friday. The company has a market cap of $212.20 million, a PE ratio of 8.42 and a beta of 0.62. First Internet Bancorp has a 1-year low of $17.56 and a 1-year high of $35.25. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.04 and a current ratio of 1.05.

First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Wednesday, April 24th. The bank reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The business had revenue of $18.62 million for the quarter, compared to analysts’ expectations of $17.30 million. First Internet Bancorp had a return on equity of 8.15% and a net margin of 16.21%. As a group, analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

About First Internet Bancorp

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.

See Also: Why Net Income is Important to Investors

Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.