First Internet Bancorp (NASDAQ:INBK) Shares Cross Above 200 Day Moving Average – Time to Sell?

First Internet Bancorp (NASDAQ:INBK)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.62 and traded as high as $29.43. First Internet Bancorp shares last traded at $29.21, with a volume of 24,154 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. 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. 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. Benchmark boosted their price target 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. Finally, Piper Sandler upped their price target on shares of First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.38.

First Internet Bancorp Trading Down 0.2%

The company has a market capitalization of $254.71 million, a price-to-earnings ratio of -8.11 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The company’s 50 day simple moving average is $26.64 and its two-hundred day simple moving average is $23.62.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The firm had revenue of $41.12 million during the quarter, compared to analyst estimates 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. As a group, research analysts anticipate that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. First Internet Bancorp’s dividend payout ratio is currently -6.67%.

Institutional Investors Weigh In On First Internet Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in First Internet Bancorp by 78.5% in the 1st quarter. Royal Bank of Canada now owns 13,789 shares of the bank’s stock worth $369,000 after purchasing an additional 6,064 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of First Internet Bancorp by 81.4% in the first quarter. Empowered Funds LLC now owns 13,135 shares of the bank’s stock worth $352,000 after buying an additional 5,893 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of First Internet Bancorp during the first quarter worth $297,000. First Trust Advisors LP lifted its stake in shares of First Internet Bancorp by 4.9% during the second quarter. First Trust Advisors LP now owns 31,683 shares of the bank’s stock worth $852,000 after buying an additional 1,474 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of First Internet Bancorp during the second quarter valued at $236,000. 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).