First Internet Bancorp (NASDAQ:INBK) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of First Internet Bancorp (NASDAQ:INBK) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $26.12 and traded as low as $25.57. First Internet Bancorp shares last traded at $25.99, with a volume of 36,455 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Benchmark lifted their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of First Internet Bancorp in a report on Friday, October 2nd. Piper Sandler raised 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. Finally, Zacks Research raised First Internet Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, First Internet Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $29.38.

First Internet Bancorp Stock Up 3.5%

The firm’s 50-day moving average is $27.45 and its 200-day moving average is $26.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.87.

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

First Internet Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, October 1st. First Internet Bancorp’s payout ratio is currently -6.67%.

Hedge Funds Weigh In On First Internet Bancorp

A number of hedge funds have recently made changes to their positions in INBK. BlackRock Inc. purchased a new stake in shares of First Internet Bancorp in the second quarter worth about $20,209,000. Heartland Advisors Inc. bought a new position in First Internet Bancorp during the 2nd quarter worth about $10,450,000. Aegis Financial Corp boosted its position in First Internet Bancorp by 41.5% during the first quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 103,941 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of First Internet Bancorp during the second quarter worth about $1,649,000. Finally, GSA Capital Partners LLP acquired a new position in shares of First Internet Bancorp in the second quarter valued at about $1,491,000. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Company Profile

First Internet Bancorp is the bank holding company for First Internet Bank, a digital-focused financial institution headquartered in Fishers, Indiana. Founded in 1999, First Internet Bank was established as an internet-based bank and has expanded its services through online and mobile banking, as well as a network of banking offices.

First Internet Bank provides a range of deposit and lending products for individuals, businesses, and institutions. Its services include checking and savings accounts, certificates of deposit, commercial and industrial lending, commercial real estate and construction loans, residential mortgage lending, consumer loans, and small business lending.