Interactive Brokers Misses Q1 Earnings: Analyst Flags Weaker Securities Lending Revenue

Keefe, Bruyette & Woods analyst Kyle Voigt reiterated the Market Perform rating on Interactive Brokers Group, Inc. IBKR, with a price forecast of $181.

On Tuesday, Interactive Brokers released its first-quarter results. It reported quarterly earnings of $1.88 per share, which missed the analyst consensus estimate of $1.92. 

The analyst noted that the earnings miss was mainly due to a decline in net interest income, largely caused by weaker securities lending revenue.

In the first quarter, Interactive Brokers’ net interest income increased 3% to $770 million on higher average customer margin loans and customer credit balances.

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Voigt highlights that the non-GAAP results exclude a $5 million loss from the currency diversification strategy and a $3 million mark-to-market adjustment on investments.

The company also raised its quarterly dividend from 25 cents to 32 cents and declared a 4-for-1 forward stock split, effective as of the close of market on Monday, June 16, 2025.

Voigt writes that the analyst’s forecast includes a $0.25 dividend through 2027, following the first dividend increase since 2011 in Q1 2024.

Apart from Keefe, Bruyette & Woods, BofA Securities analyst Craig Siegenthaler maintains Interactive Brokers with a Buy, lowering the price forecast from $265 to $243.

According to Benzinga Pro, IBKR stock has gained over 45% in the past year. Investors can gain exposure to the stock via WBI BullBear Value 3000 ETF WBIF.

Price Action: IBKR shares are trading lower by 9.94% to $156.19 at last check on Wednesday.

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