First Internet Bancorp (NASDAQ:INBK) Given New $23.00 Price Target at Keefe, Bruyette & Woods

First Internet Bancorp (NASDAQ:INBK) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $25.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 6.06% from the company’s current price.

A number of other equities analysts have also commented on INBK. Weiss Ratings restated a “sell (d)” rating on shares of First Internet Bancorp in a research note on Monday, December 29th. Hovde Group boosted their price target on First Internet Bancorp from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Research upgraded shares of First Internet Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 25th. Wall Street Zen upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Piper Sandler decreased their price objective on shares of First Internet Bancorp from $24.00 to $23.50 and set a “neutral” rating on the stock in a research note on Friday. One equities research analyst has 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.17.

First Internet Bancorp Stock Down 2.5%

INBK traded down $0.56 during trading on Friday, reaching $21.69. 23,563 shares of the stock were exchanged, compared to its average volume of 49,190. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.91. The stock’s 50 day moving average price is $21.01 and its two-hundred day moving average price is $21.97. First Internet Bancorp has a twelve month low of $17.05 and a twelve month high of $34.21. The stock has a market cap of $188.88 million, a P/E ratio of -5.71 and a beta of 0.81.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. First Internet Bancorp had a negative return on equity of 2.05% and a negative net margin of 9.35%.The company had revenue of $42.11 million during the quarter, compared to analysts’ expectations of $32.80 million. Equities analysts expect that First Internet Bancorp will post 4.11 EPS for the current year.

Insider Activity

In other news, COO Nicole S. Lorch bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $17.96 per share, for a total transaction of $35,920.00. Following the completion of the acquisition, the chief operating officer directly owned 70,206 shares in the company, valued at approximately $1,260,899.76. This represents a 2.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.00% of the company’s stock.

Institutional Trading of First Internet Bancorp

Several large investors have recently made changes to their positions in INBK. Vanguard Group Inc. raised its position in shares of 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. boosted its holdings in First Internet Bancorp by 5.3% during the 3rd quarter. Heartland Advisors Inc. now owns 283,850 shares of the bank’s stock worth $6,367,000 after acquiring an additional 14,250 shares during the last quarter. Patriot Financial Partners GP II L.P. purchased a new stake in shares of First Internet Bancorp in the third quarter valued at about $4,696,000. CSM Advisors LLC bought a new position in shares of First Internet Bancorp during the second quarter valued at about $3,923,000. Finally, Fourthstone LLC grew its position in First Internet Bancorp by 254.9% in the 2nd quarter. Fourthstone LLC now owns 145,141 shares of the bank’s stock worth $3,904,000 after purchasing an additional 104,241 shares in the last quarter. 65.46% of the stock is currently owned by institutional investors and hedge funds.

First Internet Bancorp News Roundup

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

• Positive Sentiment: Q4 earnings beat and strong revenue: INBK reported $0.64 EPS vs. $0.59 expected and revenue of $42.11M (well above estimates), driven by a 29% increase in net interest income and 21% adjusted revenue growth year‑over‑year. This is the primary near-term positive catalyst. Read More.
• Positive Sentiment: Analyst upgrade and higher price target: Hovde Group raised its price target from $26 to $29 and assigned an “outperform” rating, implying meaningful upside versus recent levels — a supportive vote of confidence from sell‑side coverage. Read More.
• Neutral Sentiment: Earnings call commentary and transcript available: Management highlighted continued revenue momentum and drivers of NII/NIM improvement; read the full call transcript and highlights for color on guidance and balance‑sheet strategy. Read More. | Read More.
• Neutral Sentiment: Analysts digging into key metrics: Coverage notes the positive top‑line and interest income trends but recommends watching margins, credit metrics and expense leverage for sustainability. Read More.
• Neutral Sentiment: Short‑interest data appears inconclusive: reports show a large increase but the published figures contain anomalies (zeros/NaN), so no clear signal on short positioning right now.
• Negative Sentiment: Profitability and capital metrics remain a drag: reported negative net margin and negative return on equity, plus a negative P/E metric — investors may be concerned about how quickly earnings quality and margins can sustainably improve despite revenue growth.

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).