First Internet Bancorp (NASDAQ:INBK) Given New $29.00 Price Target at Keefe, Bruyette & Woods

First Internet Bancorp (NASDAQ:INBK) had its target price boosted by Keefe, Bruyette & Woods from $27.00 to $29.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other analysts have also issued reports on the company. Benchmark raised their target price on First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research lowered First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler increased their price objective on First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of First Internet Bancorp in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.62.

First Internet Bancorp Stock Down 5.4%

INBK stock opened at $25.81 on Friday. The stock has a market capitalization of $225.42 million, a price-to-earnings ratio of 15.18 and a beta of 0.87. The company has a 50-day moving average of $27.17 and a two-hundred day moving average of $24.72. First Internet Bancorp has a 52-week low of $17.05 and a 52-week high of $31.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.87.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). First Internet Bancorp had a return on equity of 4.32% and a net margin of 4.27%. The business had revenue of $43.94 million during the quarter, compared to the consensus estimate of $46.17 million. As a group, equities research analysts anticipate that First Internet Bancorp will post 2.36 EPS for the current year.

First Internet Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.06 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. First Internet Bancorp’s dividend payout ratio is currently 14.12%.

Institutional Trading of First Internet Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP bought a new position in First Internet Bancorp during the 2nd quarter valued at about $253,000. Wellington Management Group LLP acquired a new position in First Internet Bancorp in the second quarter valued at about $1,649,000. Empowered Funds LLC bought a new stake in First Internet Bancorp during the second quarter worth about $426,000. Public Employees Retirement System of Ohio bought a new stake in First Internet Bancorp during the second quarter worth about $228,000. Finally, Bank of America Corp DE bought a new stake in First Internet Bancorp during the second quarter worth about $1,444,000. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp News Roundup

Here are the key news stories impacting First Internet Bancorp this week:

• Positive Sentiment: Improved operating performance and outlook: Third-quarter revenue reached a record $43.9 million, up 7% sequentially. Net interest income rose 7%, net interest margin expanded to 2.47%, deposits increased 7% to $5.15 billion, and net charge-offs declined to 0.82% from 1.77%. Management expects fourth-quarter diluted EPS of $1.02-$1.07 and net interest margin of 2.75%-2.80%. First Internet Bancorp Reports Record Third-Quarter Revenue
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $29 from $27 while maintaining a “market perform” rating, implying roughly 12% upside from the referenced share price. The target increase reflects some confidence in the bank’s earnings outlook, though the neutral rating limits the bullish signal. Keefe, Bruyette and Woods Price Target Update
• Neutral Sentiment: Management’s earnings call will provide additional detail on credit quality, deposit growth, margins and the elevated fourth-quarter earnings forecast. Investors are likely to focus on whether the projected improvement is sustainable. First Internet Bancorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Third-quarter earnings missed expectations: EPS was reported at $0.57 versus the $0.78 consensus estimate, while revenue of $43.94 million came in below the $46.17 million forecast. The earnings miss, along with negative net margin and return on equity figures cited in the reports, likely contributed to the stock’s decline. First Internet Bancorp Lags Q3 Earnings and Revenue Estimates
• Negative Sentiment: Zacks Research downgraded INBK from “strong buy” to “hold,” adding to near-term investor caution following the earnings shortfall. Zacks Research Rating Update

First Internet Bancorp Company Profile

First Internet Bancorp is a bank holding company headquartered in Fishers, Indiana. Its principal subsidiary, First Internet Bank, provides a range of banking products and financial services to businesses, organizations and individual consumers.

First Internet Bank’s offerings include commercial and industrial lending, commercial real estate financing, small business and SBA loans, public finance, residential mortgage lending, consumer loans, deposit accounts and treasury management services.