First Internet Bancorp (INBK) AI Stock Analysis

• Market Cap: $212.86M
• Dividend Yield: 0.98%
• Average Volume (3M): 44.27K
• Price to Earnings (P/E): 13.9
• Beta (1Y): 1.17
• Revenue Growth: 17.13%
• EPS Growth: -16.81%
• Country: US
• Employees: 323
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.02
• Shares Outstanding: 8,713,094
• 10 Day Avg. Volume: 29,883
• 30 Day Avg. Volume: 44,269
• PEG Ratio: 0.06
• Price to Book (P/B): 0.81
• Price to Sales (P/S): 0.94
• P/FCF Ratio: 30.07
• Enterprise Value/Market Cap: 2.80
• Enterprise Value/Revenue: 1.71
• Enterprise Value/Gross Profit: 5.95
• Enterprise Value/Ebitda: 27.46
• 1Y Price Target: $29.33
• Price Target Upside: 19.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 59 Neutral
• Price Target: $26.00 ▲(5.56% Upside)

First Internet Bancorp's overall stock score is driven by strong revenue growth and a neutral technical outlook. However, challenges in profitability, high leverage, and cash flow issues weigh on the score. The earnings call provides a cautiously optimistic outlook, but high provision expenses and low earnings per share remain concerns.

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 generates revenue primarily through interest income earned from loans and investments, which constitutes the bulk of its earnings. The company offers various types of loans, including residential mortgages, commercial real estate loans, and consumer loans, which accrue interest over the life of the loan. Additionally, it earns non-interest income from fees associated with deposit accounts, transaction services, and other banking products. The bank's online banking model allows it to operate with lower overhead costs compared to traditional brick-and-mortar banks, enhancing its profitability. Furthermore, partnerships with fintech companies and strategic initiatives in digital banking contribute to customer acquisition and retention, further bolstering its revenue streams.

First Internet Bancorp Financial Statement Overview

Summary

First Internet Bancorp shows solid revenue growth and profitability with a strong gross profit margin. However, declining EBIT and a slight decrease in stockholders' equity suggest potential pressure on operational efficiency and financial stability.

Income Statement

First Internet Bancorp's income statement reveals a solid gross profit margin, consistently above 99%, indicating effective cost management in generating revenues. Net profit margins have shown resilience, though they have decreased in recent years. Revenue has grown at a healthy pace, with a notable increase in the latest TTM period. EBIT and EBITDA margins also reflect a stable profitability trend. However, declining EBIT indicates potential pressure on operational efficiency.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio, with debt levels being manageable relative to equity. The equity ratio is somewhat low, indicating a reliance on debt financing. ROE has been relatively strong, demonstrating effective use of shareholders' equity. The slight decline in stockholders' equity over time could be a concern for financial stability.

Cash Flow

Cash flow analysis indicates robust free cash flow growth, particularly in the TTM period, which suggests effective capital management. The operating cash flow to net income ratio is positive, reflecting good cash generation from operations. Free cash flow to net income also shows strong alignment, although fluctuations in investing and financing cash flows suggest careful monitoring is needed.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	348.58M	333.42M	259.85M	173.73M	162.09M	171.16M
Gross Profit	100.26M	111.70M	78.62M	108.94M	113.73M	89.52M
EBITDA	21.71M	36.00M	10.69M	48.83M	65.35M	41.73M
Net Income	15.46M	25.28M	8.42M	35.54M	48.11M	29.45M
Balance Sheet
Total Assets	6.07B	5.74B	5.17B	4.54B	4.21B	4.25B
Cash, Cash Equivalents and Short-Term Investments	653.92M	879.71M	880.75M	646.94M	1.05B	917.43M
Total Debt	369.81M	400.15M	719.77M	719.46M	619.15M	594.52M
Total Liabilities	5.68B	5.35B	4.80B	4.18B	3.83B	3.92B
Stockholders Equity	390.24M	384.06M	362.80M	364.97M	380.34M	330.94M
Cash Flow
Free Cash Flow	-65.10M	10.40M	6.31M	65.21M	24.95M	-12.49M
Operating Cash Flow	-63.17M	12.99M	11.68M	82.72M	54.84M	13.07M
Investing Cash Flow	-599.28M	-496.17M	-474.50M	-601.03M	43.87M	-44.81M
Financing Cash Flow	712.02M	543.69M	612.17M	331.90M	-75.56M	124.19M

First Internet Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 24.63
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• 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 24.63 is above the 20-day moving average (MA) of 24.21, below the 50-day MA of 24.95, and below the 200-day MA of 28.57, indicating a neutral trend. The MACD of 0.21 indicates Negative momentum. The RSI at 52.48 is Neutral, neither overbought nor oversold. The STOCH value of 41.12 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
JMSB	74 Outperform	$286.80M	15.20	7.72%	1.47%	23.76%	682.33%
OVLY	72 Outperform	$247.44M	10.09	13.54%	2.03%	5.11%	-2.77%
CHMG	72 Outperform	$250.61M	22.05	5.18%	2.37%	-6.64%	-51.99%
Sector *	68 Neutral	$17.80B	11.94	9.89%	3.74%	9.69%	1.17%
INBK	59 Neutral	$212.86M	13.88	4.06%	0.98%	17.13%	-16.81%
FRST	57 Neutral	$275.26M	93.08	0.79%	3.58%	4.72%	―
MCHB	41 Neutral	$2.87B	―	-30.22%	6.47%	-26.58%	-838.48%

First Internet Bancorp Corporate Events

First Internet Bancorp Declares Quarterly Cash Dividend

On June 17, 2025, First Internet Bancorp announced a quarterly cash dividend of $0.06 per common share, payable on July 15, 2025, to shareholders of record as of June 30, 2025. This decision reflects the company’s financial strategy and is subject to future discretion by the Board of Directors, considering various factors such as operational results and financial conditions.