First Internet Bancorp (INBK) AI Stock Analysis

• Market Cap: $182.29M
• Dividend Yield: 1.15%
• Average Volume (3M): 61.21K
• Price to Earnings (P/E): 8.7
• Beta (1Y): 1.27
• Revenue Growth: 22.97%
• EPS Growth: 27.73%
• Country: US
• Employees: 323
• Sector: Financial
• Sector Strength: 84
• Industry: Banks - Regional
• EPS (TTM): 2.40
• Shares Outstanding: 8,697,085
• 10 Day Avg. Volume: 90,761
• 30 Day Avg. Volume: 61,210
• PEG Ratio: 0.31
• Price to Book (P/B): N/A
• Price to Sales (P/S): 2.06
• Price to Cash Flow (P/CF): -9.70
• P/FCF Ratio: 0.50
• Enterprise Value/Market Cap: 4.00
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 2.50
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $30.50
• Price Target Upside: 45.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

First Internet Bancorp exhibits a solid financial foundation with strong revenue growth and improved profitability, particularly benefiting from debt elimination. However, technical analysis indicates bearish market trends, and credit quality challenges highlighted in the earnings call pose potential risks. The stock's undervaluation and dividend yield are attractive, balancing the risks and supporting a moderate overall score.

First Internet Bancorp Business Overview & Revenue Model

Company Description

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, savings, money market, and 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 and 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 municipal finance lending and leasing products to government entities. In addition, it offers corporate credit card and treasury management services. The company provides its services through its firstib.com Website. First Internet Bancorp was founded in 1999 and is headquartered in Fishers, Indiana.

How the Company Makes Money

First Internet Bancorp makes money primarily through interest income generated from its loan portfolio, which includes residential mortgages, commercial real estate loans, consumer loans, and commercial and industrial loans. The net interest income, which is the difference between the interest earned on loans and the interest paid on deposits, is a significant contributor to the company's earnings. Additionally, the bank earns non-interest income from fees related to services such as loan origination, account maintenance, and transaction processing. First Internet Bancorp also benefits from its online-only model, which reduces overhead costs associated with physical branches, allowing for potentially higher margins. The company may establish partnerships with fintech companies or other financial institutions to expand its product offerings and customer base, further enhancing its revenue streams.

First Internet Bancorp Financial Statement Overview

Summary

First Internet Bancorp demonstrates strong financial performance with robust revenue growth and improved profitability. The elimination of total debt enhances financial flexibility. However, historical volatility in cash flow metrics suggests areas for improvement.

Income Statement

First Internet Bancorp has shown a robust revenue growth rate over the past year, with significant increases from 2023 to 2024. The gross profit margin and net profit margin are solid, indicating efficient cost management. However, the absence of EBITDA data limits a full margin analysis. The company has been able to increase its EBIT significantly, reflecting improved operational efficiency.

Balance Sheet

The company exhibits a strong balance sheet with no total debt as of 2024, significantly improving its leverage position. The equity ratio and return on equity are healthy, demonstrating a strong equity base and shareholder returns. However, fluctuations in total liabilities and stockholders' equity over the years highlight potential volatility in financial stability.

Cash Flow

First Internet Bancorp's cash flow position is stable, with positive operating cash flow and free cash flow in 2024. The growth in free cash flow is a positive sign, although it remains relatively modest. The operating cash flow to net income ratio suggests effective conversion of earnings to cash, though it has shown variability in previous years.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
291.89M	84.38M	113.37M	118.37M	91.55M
	Gross Profit
291.89M	84.38M	113.37M	118.37M	91.55M
	EBIT
285.55M	8.82M	40.10M	56.57M	33.90M
	EBITDA
0.00	0.00	48.83M	65.35M	41.73M
	Net Income Common Stockholders
25.28M	8.42M	35.54M	48.11M	29.45M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
596.60M	880.75M	646.94M	1.05B	917.43M
	Total Assets
5.74B	5.17B	4.54B	4.21B	4.25B
	Total Debt
400.15M	719.77M	719.46M	619.15M	594.52M
	Net Debt
-66.26M	313.87M	462.91M	176.19M	174.71M
	Total Liabilities
5.35B	4.80B	4.18B	3.83B	3.92B
	Stockholders Equity
384.06M	362.80M	364.97M	380.34M	330.94M
Cash Flow		Free Cash Flow
12.99M	6.31M	65.21M	24.95M	-12.49M
	Operating Cash Flow
12.99M	11.68M	82.72M	54.84M	13.07M
	Investing Cash Flow
-496.17M	-474.50M	-601.03M	43.87M	-44.81M
	Financing Cash Flow
543.69M	612.17M	331.90M	-75.56M	124.19M

First Internet Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 20.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INBK, the sentiment is Negative. The current price of 20.96 is below the 20-day moving average (MA) of 24.10, below the 50-day MA of 26.93, and below the 200-day MA of 33.47, indicating a bearish trend. The MACD of -1.33 indicates Positive momentum. The RSI at 36.48 is Neutral, neither overbought nor oversold. The STOCH value of 34.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INBK.

First Internet Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OVLY	72 Outperform	$201.16M	7.97	13.99%	2.11%	0.40%	-10.62%
CHMG	63 Neutral	$207.21M	9.13	10.65%	2.89%	6.05%	-9.27%
Sector *	63 Neutral	$12.31B	9.55	7.88%	79.24%	12.71%	-4.71%
INBK	61 Neutral	$182.29M	8.71	5.58%	1.15%	22.97%	27.73%
JMSB	59 Neutral	$223.41M	12.58	7.26%	1.60%	25.96%	485.31%
HMST	55 Neutral	$211.35M	―	-30.86%	0.98%	-18.33%	-422.59%
FRST	46 Neutral	$205.94M	―	-2.01%	4.80%	8.69%	38.76%

First Internet Bancorp Corporate Events

First Internet Bancorp Declares Quarterly Cash Dividend

On March 18, 2025, First Internet Bancorp announced a quarterly cash dividend of $0.06 per common share, payable on April 15, 2025, to shareholders recorded by March 31, 2025. This decision reflects the company’s ongoing financial strategy, with future dividends subject to the Board’s discretion based on various factors such as financial performance and market conditions.