First Internet Bancorp (NASDAQ:INBK) Given New $29.50 Price Target at Piper Sandler

Key Points

• Piper Sandler raised First Internet Bancorp’s price target from $26.00 to $29.50 while maintaining a “neutral” rating; the new target implies about 2.8% upside from the prior close. Analysts overall hold a consensus “Hold” rating with an average target of $29.38.
• The bank reported quarterly EPS of $0.27, beating the $0.15 consensus estimate, although revenue of $41.12 million fell short of expectations. Management’s fiscal 2026 EPS guidance is $2.35–$2.45.
• INBK shares rose to $28.70, near their 12-month high of $29.99, while institutional investors own 65.46% of the stock. Despite stronger earnings, the company continues to report negative net margin and return on equity.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) had its price objective raised by equities researchers at Piper Sandler from $26.00 to $29.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Piper Sandler's price target would suggest a potential upside of 2.77% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings raised shares of First Internet Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of First Internet Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Benchmark increased their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.38.

First Internet Bancorp Price Performance

NASDAQ INBK traded up $2.41 during mid-day trading on Friday, hitting $28.70. The stock had a trading volume of 29,676 shares, compared to its average volume of 50,823. The firm's 50 day moving average is $25.98 and its 200 day moving average is $23.30. First Internet Bancorp has a twelve month low of $17.05 and a twelve month high of $29.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $250.21 million, a price-to-earnings ratio of -7.42 and a beta of 0.83.

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

Institutional Investors Weigh In On First Internet Bancorp

A number of hedge funds have recently modified their holdings of INBK. Vanguard Group Inc. raised its stake in First Internet Bancorp by 1.3% during the third quarter. Vanguard Group Inc. now owns 435,025 shares of the bank's stock worth $9,758,000 after purchasing an additional 5,632 shares during the period. Heartland Advisors Inc. grew its stake in shares of First Internet Bancorp by 33.4% in the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank's stock valued at $7,844,000 after buying an additional 96,305 shares during the period. Aegis Financial Corp increased its holdings in shares of First Internet Bancorp by 41.5% during the 1st quarter. Aegis Financial Corp now owns 354,261 shares of the bank's stock worth $7,220,000 after buying an additional 103,941 shares during the last quarter. Patriot Financial Partners GP II L.P. acquired a new stake in shares of First Internet Bancorp during the 3rd quarter worth approximately $4,696,000. Finally, CSM Advisors LLC raised its position in shares of First Internet Bancorp by 35.9% during the 4th quarter. CSM Advisors LLC now owns 191,854 shares of the bank's stock valued at $4,005,000 after buying an additional 50,695 shares during the period. Hedge funds and other institutional investors own 65.46% of the company's stock.

More First Internet Bancorp News

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

• Positive Sentiment: Benchmark raised its price target for First Internet Bancorp from $33 to $35 and initiated a “buy” rating, implying approximately 21.6% upside from the cited $28.79 price. Benzinga analyst rating and price target
• Positive Sentiment: First Internet Bancorp reported second-quarter diluted EPS of $0.27, sharply above the $0.15 consensus estimate and up from $0.02 a year earlier. Net income rose to $2.4 million from $0.2 million, while revenue increased 23% year over year to $41.1 million. First Internet Bancorp Q2 net income rises
• Positive Sentiment: Management raised or reaffirmed full-year 2026 EPS guidance at $2.35-$2.45, above the $2.10 analyst consensus. Credit trends also improved: the provision for credit losses fell to $13.4 million from $16.3 million in the prior quarter, and nonperforming loans declined to 1.58% of total loans from 1.63%. First Internet Bancorp second-quarter results
• Neutral Sentiment: The company’s earnings call provided additional detail on second-quarter performance and its 2026 business outlook, while recent announcements highlighted plans to put AI-powered financial intelligence directly in customers’ hands. These initiatives could support longer-term competitiveness, but their near-term financial effect is unclear. Q2 2026 earnings call transcript
• Negative Sentiment: Quarterly revenue of $41.1 million was below the approximately $43.8 million consensus estimate. Deposits also declined 3% sequentially to $4.8 billion, and the bank continues to report negative net margin and return on equity, highlighting ongoing profitability and funding risks.

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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