First Internet Bancorp (NASDAQ:INBK) Stock Price Target Raised at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised First Internet Bancorp’s price target from $27 to $29 while maintaining a “market perform” rating, implying 13.08% potential upside. The broader analyst consensus remains “Hold,” with an average target of $30.62.
• Shares fell 6.0% to $25.65 after the bank reported quarterly EPS of $0.57 and revenue of $43.94 million, both below analyst estimates of $0.78 and $46.17 million, respectively.
• Despite the earnings miss, institutional ownership stands at 65.46%, and several major investors initiated positions during the second quarter, including Wellington Management and Bank of America.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) had its price target increased by investment analysts at Keefe, Bruyette & Woods from $27.00 to $29.00 in a report issued on Friday, Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods's target price indicates a potential upside of 13.08% from the company's previous close.

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

First Internet Bancorp Stock Down 6.0%

Shares of INBK traded down $1.62 during midday trading on Friday, reaching $25.65. 17,041 shares of the company were exchanged, compared to its average volume of 49,852. The company has a market cap of $223.89 million, a price-to-earnings ratio of -7.10 and a beta of 0.87. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $31.09. The stock has a 50-day moving average price of $27.22 and a 200-day moving average price of $24.69. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.21). First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. The firm had revenue of $43.94 million during the quarter, compared to analyst estimates of $46.17 million. Research analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INBK. Corient Private Wealth LP acquired a new position in First Internet Bancorp during the 2nd quarter valued at approximately $253,000. Wellington Management Group LLP acquired a new stake in First Internet Bancorp in the second quarter worth $1,649,000. Empowered Funds LLC acquired a new stake in First Internet Bancorp in the second quarter worth $426,000. Public Employees Retirement System of Ohio bought a new position in shares of First Internet Bancorp during the second quarter worth about $228,000. Finally, Bank of America Corp DE bought a new position in shares of First Internet Bancorp during the second quarter worth about $1,444,000. 65.46% of the stock is owned by institutional investors and hedge funds.

First Internet Bancorp News Summary

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

• Positive Sentiment: Third-quarter revenue reached a record $43.9 million, up 7% sequentially, while net interest income increased 7% to $34.7 million. The net interest margin also expanded to 2.47%. First Internet Bancorp Reports Record $43.9 Million Third-Quarter Revenue
• Positive Sentiment: Deposits grew 7% sequentially to $5.15 billion, loans increased to $3.86 billion, and credit metrics improved: provisions for credit losses declined to $11.6 million and net charge-offs fell to 0.82% from 1.77%. Management projects fourth-quarter diluted EPS of $1.02–$1.07 and a net interest margin of 2.75%–2.80%. First Internet Bancorp Q3 2026 Earnings Call Transcript
• Neutral Sentiment: Net income was $4.8 million, and quarterly earnings improved substantially from the year-ago loss of $1.43 per share. However, reported EPS figures varied by measure, with basic EPS of $0.55 and diluted EPS of $0.54 in the company’s release. First Internet Q3 Earnings Snapshot
• Negative Sentiment: First Internet Bancorp reported quarterly EPS of $0.57, below the $0.78–$0.80 analyst consensus, while revenue of $43.94 million also missed the $46.17 million estimate. The earnings shortfall likely drove selling despite the year-over-year recovery. First Internet Bancorp Lags Q3 Earnings and Revenue Estimates
• Negative Sentiment: Zacks Research downgraded the stock from “Strong Buy” to “Hold,” adding further pressure to investor sentiment. Zacks Research Ratings

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.

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