First Internet Bancorp (NASDAQ:INBK) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

First Internet Bancorp (NASDAQ:INBK) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $24.82 and traded as high as $29.14. First Internet Bancorp shares last traded at $29.08, with a volume of 30,858 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a research note on Friday, July 31st. Benchmark increased their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Two investment analysts have 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.38.

First Internet Bancorp Price Performance

The company has a market cap of $244.55 million, a P/E ratio of -7.78 and a beta of 0.83. The company has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $24.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.88.

First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $41.12 million for the quarter, compared to analysts’ expectations of $43.83 million. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. On average, sell-side analysts anticipate that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. First Internet Bancorp’s dividend payout ratio (DPR) is currently -6.67%.

Hedge Funds Weigh In On First Internet Bancorp

A number of institutional investors have recently modified their holdings of INBK. Corient Private Wealth LP acquired a new position in First Internet Bancorp during the second quarter worth about $253,000. California State Teachers Retirement System lifted its holdings in shares of First Internet Bancorp by 601.7% during the second quarter. California State Teachers Retirement System now owns 2,947 shares of the bank’s stock worth $82,000 after purchasing an additional 2,527 shares during the period. Wellington Management Group LLP acquired a new position in First Internet Bancorp during the 2nd quarter worth about $1,649,000. Empowered Funds LLC bought a new stake in First Internet Bancorp in the second quarter valued at approximately $426,000. Finally, Public Employees Retirement System of Ohio bought a new stake in First Internet Bancorp in the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 65.46% of the company’s stock.

About First Internet Bancorp

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).