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 analysts at Keefe, Bruyette & Woods from $27.00 to $29.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods‘s target price would suggest a potential upside of 13.08% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of First Internet Bancorp in a research note on Friday, October 2nd. Benchmark boosted their price target on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler raised 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 report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.62.

First Internet Bancorp Price Performance

First Internet Bancorp stock traded down $1.62 during trading hours on Friday, hitting $25.65. 17,041 shares of the company traded hands, compared to its average volume of 49,852. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $31.09. The firm has a market cap of $223.89 million, a P/E ratio of -7.10 and a beta of 0.87. The firm’s 50-day simple moving average is $27.22 and its two-hundred day simple moving average is $24.69. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). The company had revenue of $43.94 million during the quarter, compared to analyst estimates of $46.17 million. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%. As a group, analysts forecast that First Internet Bancorp will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INBK. BlackRock Inc. acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at $20,209,000. Heartland Advisors Inc. raised its stake in shares of First Internet Bancorp by 33.4% during the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock worth $7,844,000 after purchasing an additional 96,305 shares in the last quarter. Aegis Financial Corp lifted its stake in First Internet Bancorp by 41.5% in the first quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock valued at $7,220,000 after acquiring an additional 103,941 shares during the last quarter. Quantinno Capital Management LP grew 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 acquiring an additional 20,582 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of First Internet Bancorp by 18.6% during the 1st quarter. Bank of America Corp DE now owns 61,022 shares of the bank’s stock worth $1,244,000 after purchasing an additional 9,563 shares during the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

Key Headlines Impacting First Internet Bancorp

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.