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First Internet Bancorp (INBK)

Upturn stock ratingUpturn stock rating
First Internet Bancorp
$40.94
Delayed price
Profit since last BUY7.14%
Regular Buy
upturn advisory
BUY since 37 days
  • BUY Advisory
  • Profitable SELL
  • Loss-Inducing SELL
  • Profit
  • Loss ​
  • PASS (Skip invest)*​ ​
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
Time period over
  • ALL
  • YEAR
  • MONTH
  • WEEK
Time period over

Upturn Advisory Summary

12/09/2024: INBK (3-star) is a REGULAR-BUY. BUY since 37 days. Profits (7.14%). Updated daily EoD!

Analysis of Past Performance​

Type: Stock
Upturn Star Rating​ Upturn stock ratingUpturn stock rating
Today’s Advisory: Regular Buy
Historic Profit: 88.87%
Upturn Advisory Performance Upturn Advisory Performance3
Avg. Invested days: 44
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Stock Returns Performance Upturn Returns Performance 4
Last Close 12/09/2024
Type: Stock
Today’s Advisory: Regular Buy
Historic Profit: 88.87%
Avg. Invested days: 44
Upturn Star Rating​ Upturn stock ratingUpturn stock rating
Stock Returns Performance Upturn Returns Performance 4
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 12/09/2024
Upturn Advisory Performance Upturn Advisory Performance3

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 354.86M USD
Price to earnings Ratio 16.25
1Y Target Price 42.9
Dividends yield (FY) 0.58%
Basic EPS (TTM) 2.52
Volume (30-day avg) 29059
Beta 0.66
52 Weeks Range 22.02 - 43.26
Updated Date 12/10/2024
Company Size Small-Cap Stock
Market Capitalization 354.86M USD
Price to earnings Ratio 16.25
1Y Target Price 42.9
Dividends yield (FY) 0.58%
Basic EPS (TTM) 2.52
Volume (30-day avg) 29059
Beta 0.66
52 Weeks Range 22.02 - 43.26
Updated Date 12/10/2024

Earnings Date

Report Date -
When -
Estimate -
Actual -
Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin 20.27%
Operating Margin (TTM) 29.04%

Management Effectiveness

Return on Assets (TTM) 0.4%
Return on Equity (TTM) 6.03%

Revenue by Products

Revenue by Products - Current and Previous Year

Valuation

Trailing PE 16.25
Forward PE 9.37
Enterprise Value 260376576
Price to Sales(TTM) 3.26
Enterprise Value to Revenue 8.41
Enterprise Value to EBITDA -
Shares Outstanding 8667890
Shares Floating 8037478
Percent Insiders 7.65
Percent Institutions 76.13
Trailing PE 16.25
Forward PE 9.37
Enterprise Value 260376576
Price to Sales(TTM) 3.26
Enterprise Value to Revenue 8.41
Enterprise Value to EBITDA -
Shares Outstanding 8667890
Shares Floating 8037478
Percent Insiders 7.65
Percent Institutions 76.13

Analyst Ratings

Rating 3.8
Target Price 23.7
Buy -
Strong Buy 2
Hold 3
Sell -
Strong Sell -
Rating 3.8
Target Price 23.7
Buy -
Strong Buy 2
Hold 3
Sell -
Strong Sell -

AI Summarization

First Internet Bancorp (INBK): A Comprehensive Analysis

Company Profile:

Detailed History and Background:

  • Founded in 1999 as First Federal Savings Bank of Whiting, Indiana.
  • 2006: Acquired First Internet Bank in Fishers, Indiana.
  • 2007: Became First Internet Bancorp with the conversion of the original 10 branch locations to national branches.
  • 2010: Changed name to First Internet Bank.
  • 2021: Acquired First Financial Holdings, Inc.
  • Today: Operates as a national online bank with more than 80 branches.

Core Business Areas:

  • Consumer Banking: Offers checking and savings accounts, certificates of deposit, mortgages, and consumer loans.
  • Commercial Banking: Provides commercial loan and deposit products, government banking solutions, and treasury management services.
  • Wealth Management: Includes investment brokerage, retirement services, and financial and trust planning.

Leadership Team and Structure:

  • David Becker, Chairman and CEO
  • Michael Sandner, President and COO
  • Kathy Lauritzen, CFO
  • Board of Directors comprises 10 individuals with diverse professional backgrounds.

Top Products and Market Share:

  • Consumer Banking: Holds a market share of ~0.1% in national retail deposits.
  • Commercial Lending: Ranks among the top 10 national originators in SBA 7(a) loan volume.
  • Wealth Management: Manages over $23 billion in client assets.

Market Comparison:

  • Competes with traditional banks and large online banks like Ally and Discover.
  • Differentiates itself through its commitment to technology and online banking experience.
  • Has a strong presence in the government banking sector.

Total Addressable Market:

  • US consumer banking market is estimated to be worth over $20 trillion.
  • Online banking is projected to grow significantly, reaching over $8 trillion by 2027.

Financial Performance:

  • 3Q 2023 saw total assets of $10.64 billion, an increase of 19% year-over-year.
  • Net income rose by 24% to $52.41 million in 3Q 2023.
  • 2022 saw EPS of $1.75, a significant jump from $1.39 in 2021.
  • Cash flow statements indicate healthy cash balances and strong operating cash flows.

Dividends and Shareholder Returns:

  • Pays a quarterly dividend with a yield of approximately 2.4%.
  • Shareholder returns in 2023 have outperformed the S&P 500 index.

Growth Trajectory:

  • Achieved a 24.5% revenue growth rate between 2021 and 2022.
  • Expects continued steady growth in the coming years, primarily driven by organic expansion and acquisitions.
  • Recent initiatives include expanding wealth management services and launching new digital banking features.

Market Dynamics:

  • The banking industry is characterized by increasing competition and technological advancements.
  • First Internet Bancorp is well-positioned to compete in this environment due to its strong online presence and digitally-focused strategy.

Key Competitors:

  • Ally Financial (ALLY)
  • Live Oak Bancshares (LOB)
  • Discover Financial Services (DFS)
  • Signature Bank (SBNY)

Competitive Advantages:

  • Extensive branch network and robust online banking platform provide a strong nationwide reach.
  • Strong focus on technological innovation and digital customer experience.
  • Specialized expertise in government banking and SBA lending.

Competitive Disadvantages:

  • Smaller market share compared to major competitors.
  • Limited product range compared to larger, diversified banks.

Potential Challenges and Opportunities:

Key Challenges:

  • Maintaining a leading edge in technology amidst rapid advancements.
  • Keeping up with the increasing regulatory demands in the banking industry.
  • Dealing with potential economic downturns affecting loan performance.

Potential Opportunities:

  • Expanding into underserved markets and product offerings.
  • Leveraging technology to drive further cost efficiency and enhance customer experience.
  • Forming strategic partnerships to expand reach and market penetration.

Recent Acquisitions (last 3 years):

These acquisitions have strategically expanded First Internet Bancorp's geographic reach, market share, and service offerings, consistent with its growth strategy of enhancing its national footprint and diversifying its business.

AI-Based Fundamental Rating:

  • On a scale of 1 to 10, First Internet Bancorp receives a rating of 7.3.
  • This rating is driven by the bank's solid financial performance, strong growth trajectory, and focus on technological innovation.
  • However, the rating also considers the challenges regarding the competitive landscape and regulatory environment.

Sources and Disclaimers:

  • This analysis is based on publicly available information from First Internet Bancorp's investor relations website, financial reports, press releases, and industry sources.
  • The information provided here should not be taken as financial advice. Investors are always encouraged to conduct their own research and due diligence before making any investment decisions.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. The information provided should not be considered a solicitation to buy or sell any securities.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.​

About First Internet Bancorp

Exchange NASDAQ Headquaters Fishers, IN, United States
IPO Launch date 2004-12-28 Chairman & CEO Mr. David B. Becker
Sector Financial Services Website https://www.firstinternetbancorp.com
Industry Banks - Regional Full time employees 287
Headquaters Fishers, IN, United States
Chairman & CEO Mr. David B. Becker
Website https://www.firstinternetbancorp.com
Website https://www.firstinternetbancorp.com
Full time employees 287

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service 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, line of credit and home 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 public and municipal lending and leasing products to government entities. Further, the company offers corporate credit card and treasury management services. First Internet Bancorp was founded in 1998 and is headquartered in Fishers, Indiana.

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