Benchmark Issues Positive Forecast for First Internet Bancorp (NASDAQ:INBK) Stock Price

Key Points

• Benchmark raised First Internet Bancorp’s price target from $33 to $35 and maintained a “buy” rating, implying 21.74% upside from the previous close.
• Second-quarter EPS was $0.27, beating the $0.15 consensus estimate, while net income rose to $2.4 million from $0.2 million a year earlier. However, revenue of $41.1 million missed estimates of $43.8 million, and deposits declined 3% sequentially.
• Analyst sentiment remains mixed: the stock has a consensus “hold” rating and an average price target of $28.50, although institutional investors own 65.46% of shares and several increased their positions.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) had its price target hoisted by analysts at Benchmark from $33.00 to $35.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Benchmark's target price would suggest a potential upside of 21.74% from the company's previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler upped their price objective on shares of First Internet Bancorp from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods increased their price objective on First Internet Bancorp from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Weiss Ratings raised shares of First Internet Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded shares of First Internet Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $28.50.

First Internet Bancorp Stock Up 9.4%

Shares of NASDAQ:INBK opened at $28.75 on Friday. The firm has a 50 day simple moving average of $25.98 and a 200 day simple moving average of $23.30. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $28.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $250.61 million, a PE ratio of -6.90 and a beta of 0.83.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last announced its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. First Internet Bancorp had a negative net margin of 9.60% and a negative return on equity of 1.14%. The company had revenue of $41.12 million for the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, research analysts expect that First Internet Bancorp will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On First Internet Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its position in First Internet Bancorp by 7.3% during the 2nd quarter. Versant Capital Management Inc now owns 5,533 shares of the bank's stock worth $154,000 after acquiring an additional 376 shares during the last quarter. Bank of America Corp DE boosted its holdings in First Internet Bancorp by 18.6% in the first quarter. Bank of America Corp DE now owns 61,022 shares of the bank's stock valued at $1,244,000 after acquiring an additional 9,563 shares during the last quarter. Quantinno Capital Management LP increased its position in First Internet Bancorp by 14.5% in the first quarter. Quantinno Capital Management LP now owns 162,421 shares of the bank's stock worth $3,310,000 after purchasing an additional 20,582 shares during the period. Public Employees Retirement System of Ohio raised its holdings in First Internet Bancorp by 35.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 8,184 shares of the bank's stock worth $167,000 after purchasing an additional 2,160 shares during the last quarter. Finally, Sei Investments Co. bought a new position in First Internet Bancorp in the first quarter valued at approximately $245,000. 65.46% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about First Internet Bancorp

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

• Positive Sentiment: First Internet Bancorp reported second-quarter net income of $2.4 million, or $0.27 per diluted share, compared with $0.2 million, or $0.02 per share, a year earlier. The result exceeded analyst expectations and reflected a 23% increase in revenue to $41.1 million. First Internet Bancorp Q2 net income rises to $2.4 million
• Positive Sentiment: Management raised or reaffirmed full-year 2026 diluted EPS guidance at $2.35-$2.45, above the approximately $2.10 analyst consensus, which may support estimates and investor confidence. First Internet Bancorp earnings and guidance
• Positive Sentiment: Credit trends improved: provision for credit losses declined to $13.4 million from $16.3 million in the first quarter, while nonperforming loans fell to 1.58% of total loans from 1.63%. Loans also increased about 1% sequentially to $3.8 billion. First Internet Bancorp Reports Second Quarter 2026 Results
• Neutral Sentiment: The earnings call provided management’s discussion of the second-quarter results, credit performance and 2026 outlook, giving investors additional context for the updated guidance. First Internet Bancorp Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Recent coverage highlighted First Internet Bank’s efforts to bring artificial-intelligence-powered financial intelligence and banking tools directly to customers. The initiative could improve customer engagement over time, but its near-term financial effect is unclear. First Internet Bank Puts AI-Powered Financial Intelligence Directly in Customers' Hands
• Negative Sentiment: Quarterly revenue of $41.1 million fell short of the roughly $43.8 million consensus estimate. Deposits declined $150.3 million, or 3%, from the prior quarter, which could increase funding pressure. First Internet Bancorp quarterly earnings results

First Internet Bancorp Company Profile

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company's core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).

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