First Internet Bancorp
Market Cap
US$221.9m
Last Updated
2020/10/26 05:16 UTC
Data Sources
Company Financials +
Executive Summary
First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. More Details
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with flawless balance sheet.
Similar Companies
Share Price & News
How has First Internet Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: INBK's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
32.6%
INBK
5.1%
US Banks
0.4%
US Market
1 Year Return
-1.1%
INBK
-26.7%
US Banks
17.8%
US Market
Return vs Industry: INBK exceeded the US Banks industry which returned -26.7% over the past year.
Return vs Market: INBK underperformed the US Market which returned 17.8% over the past year.
Shareholder returns
| INBK | Industry | Market | |
|---|---|---|---|
| 7 Day | 32.6% | 5.1% | 0.4% |
| 30 Day | 58.3% | 11.9% | 6.1% |
| 90 Day | 60.1% | 5.4% | 8.9% |
| 1 Year | 0.3%-1.1% | -24.0%-26.7% | 20.5%17.8% |
| 3 Year | -39.2%-41.2% | -15.9%-22.9% | 42.3%32.9% |
| 5 Year | -24.4%-28.1% | 20.3%5.4% | 84.2%63.4% |
Price Volatility Vs. Market
How volatile is First Internet Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Why First Internet Bancorp (NASDAQ:INBK) Is A Dividend Rockstar1 month ago | Simply Wall St
First Internet Bancorp (NASDAQ:INBK) Looks Interesting, And It's About To Pay A Dividend1 month ago | Simply Wall St
Have Insiders Been Buying First Internet Bancorp (NASDAQ:INBK) Shares?Valuation
Is First Internet Bancorp undervalued compared to its fair value and its price relative to the market?
31.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: INBK ($22.64) is trading below our estimate of fair value ($33.03)
Significantly Below Fair Value: INBK is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: INBK is good value based on its PE Ratio (8.7x) compared to the US Banks industry average (10.3x).
PE vs Market: INBK is good value based on its PE Ratio (8.7x) compared to the US market (19.1x).
Price to Earnings Growth Ratio
PEG Ratio: INBK is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: INBK is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).
Next Steps
Future Growth
How is First Internet Bancorp forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
19.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: INBK's forecast earnings growth (19.5% per year) is above the savings rate (2.2%).
Earnings vs Market: INBK's earnings (19.5% per year) are forecast to grow slower than the US market (22.1% per year).
High Growth Earnings: INBK's earnings are forecast to grow, but not significantly.
Revenue vs Market: INBK's revenue (2.5% per year) is forecast to grow slower than the US market (9.9% per year).
High Growth Revenue: INBK's revenue (2.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: INBK's Return on Equity is forecast to be low in 3 years time (10.2%).
Next Steps
Past Performance
How has First Internet Bancorp performed over the past 5 years?
22.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: INBK has high quality earnings.
Growing Profit Margin: INBK's current net profit margins (30.5%) are lower than last year (31.3%).
Past Earnings Growth Analysis
Earnings Trend: INBK's earnings have grown significantly by 22.1% per year over the past 5 years.
Accelerating Growth: INBK's earnings growth over the past year (17%) is below its 5-year average (22.1% per year).
Earnings vs Industry: INBK earnings growth over the past year (17%) exceeded the Banks industry -4%.
Return on Equity
High ROE: INBK's Return on Equity (8%) is considered low.
Next Steps
Financial Health
How is First Internet Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: INBK's Assets to Equity ratio (13.6x) is moderate.
Allowance for Bad Loans: INBK has a sufficient allowance for bad loans (275%).
Low Risk Liabilities: 84% of INBK's liabilities are made up of primarily low risk sources of funding.
Loan Level: INBK has an appropriate level of Loans to Assets ratio (69%).
Low Risk Deposits: INBK's Loans to Deposits ratio (89%) is appropriate.
Level of Bad Loans: INBK has an appropriate level of bad loans (0.3%).
Next Steps
Dividend
What is First Internet Bancorp current dividend yield, its reliability and sustainability?
1.06%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: INBK's dividend (1.06%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.63%).
High Dividend: INBK's dividend (1.06%) is low compared to the top 25% of dividend payers in the US market (4.56%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, INBK has been paying a dividend for less than 10 years.
Growing Dividend: INBK's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (9.3%), INBK's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: INBK's dividends in 3 years are forecast to be thoroughly covered by earnings (6.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.8yrs
Average management tenure
CEO
David Becker (67 yo)
15.75yrs
Tenure
US$1,616,866
Compensation
Mr. David B. Becker is the Chairman, President and Chief Executive Officer of First Internet Bancorp (“Bancorp”) since 2006 and 2007 respectively. Mr. Becker is the founder of the First Internet Bank of In ...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD1.62M) is above average for companies of similar size in the US market ($USD1.23M).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 15.75yrs | US$1.62m | 2.75% $ 6.1m | |
| Executive VP & CFO | 6.17yrs | US$634.88k | 0.22% $ 483.8k | |
| Executive VP & COO | 3.75yrs | US$645.37k | 0.27% $ 589.1k | |
| Executive VP & Secretary | 8.75yrs | US$490.71k | 0.48% $ 1.1m | |
| Executive Assistant | 6.75yrs | no data | no data | |
| Senior Vice President of Retail Lending - First Internet Bank | 9.75yrs | no data | no data | |
| Senior Vice President of Public Finance - First Internet Bank | no data | no data | no data |
7.8yrs
Average Tenure
58.5yo
Average Age
Experienced Management: INBK's management team is seasoned and experienced (7.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 15.75yrs | US$1.62m | 2.75% $ 6.1m | |
| Independent Director | 14.75yrs | US$81.48k | 0.26% $ 581.1k | |
| Independent Director | 7.92yrs | US$82.48k | 0.20% $ 448.5k | |
| Independent Director | 14.75yrs | US$82.48k | 0.26% $ 580.3k | |
| Independent Director | 0.42yr | no data | 0.015% $ 33.1k | |
| Vice Chairman & Lead Independent Director | 14.75yrs | US$88.48k | 0.15% $ 334.0k | |
| Independent Director | 14.75yrs | US$81.48k | 0.90% $ 2.0m | |
| Independent Director | 0.42yr | no data | 0.015% $ 33.1k |
14.8yrs
Average Tenure
69.5yo
Average Age
Experienced Board: INBK's board of directors are seasoned and experienced ( 14.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: INBK insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
First Internet Bancorp's company bio, employee growth, exchange listings and data sources
Key Information
- Name: First Internet Bancorp
- Ticker: INBK
- Exchange: NasdaqGS
- Founded: 1999
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$221.885m
- Shares outstanding: 9.80m
- Website: https://www.firstinternetbancorp.com
Number of Employees
Location
- First Internet Bancorp
- 11201 USA Parkway
- Fishers
- Indiana
- 46037
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| INBK | NasdaqGS (Nasdaq Global Select) | Yes | Voting Common Stock | US | USD | Dec 2004 |
| 45H | DB (Deutsche Boerse AG) | Yes | Voting Common Stock | DE | EUR | Dec 2004 |
Biography
First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers sav ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/26 05:16 |
| End of Day Share Price | 2020/10/23 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.