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

First Internet Bancorp (NASDAQ:INBK) had its price objective hoisted by Benchmark from $33.00 to $35.00 in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has a buy rating on the bank’s stock.

INBK has been the subject of a number of other research reports. Weiss Ratings upgraded shares of First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. Piper Sandler boosted their target price on First Internet Bancorp from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Wall Street Zen upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Keefe, Bruyette & Woods upped their price target on First Internet Bancorp from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Two 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.38.

First Internet Bancorp Price Performance

Shares of NASDAQ INBK opened at $29.46 on Friday. The firm has a 50-day simple moving average of $26.10 and a 200-day simple moving average of $23.35. The stock has a market capitalization of $256.89 million, a price-to-earnings ratio of -8.18 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $30.05.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $41.12 million for the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. On average, equities analysts predict that First Internet Bancorp will post 1.98 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. First Internet Bancorp’s payout ratio is presently -6.23%.

Institutional Trading of First Internet Bancorp

Several hedge funds have recently made changes to their positions in INBK. Heartland Advisors Inc. raised its position 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 valued at $7,844,000 after buying an additional 96,305 shares during the period. Aegis Financial Corp lifted its holdings 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. Gator Capital Management LLC grew its position in First Internet Bancorp by 62.7% in the fourth quarter. Gator Capital Management LLC now owns 75,555 shares of the bank’s stock worth $1,577,000 after acquiring an additional 29,122 shares during the period. Simcoe Capital LLC purchased a new stake in First Internet Bancorp in the fourth quarter valued at $1,935,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of First Internet Bancorp by 35.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,184 shares of the bank’s stock valued at $167,000 after purchasing an additional 2,160 shares during the last quarter. Hedge funds and other institutional investors 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: Quarterly earnings significantly exceeded expectations. First Internet Bancorp reported second-quarter net income of $2.4 million, or $0.27 per diluted share, compared with $0.02 a year earlier and ahead of the roughly $0.15 consensus estimate. Revenue increased 23% year over year to $41.1 million, driven by higher net interest and noninterest income. First Internet Bancorp Reports Second Quarter 2026 Results
• Positive Sentiment: Full-year guidance was raised above Wall Street expectations. Management now expects 2026 diluted EPS of $2.35 to $2.45, compared with the prior consensus estimate of $2.10, providing a meaningful catalyst for the stock.
• Positive Sentiment: Credit quality improved. The provision for credit losses declined to $13.4 million from $16.3 million in the first quarter, while nonperforming loans improved to 1.58% of total loans from 1.63%. Loan balances also grew about 1% sequentially. First Internet Bancorp Q2 net income rises to $2.4 million
• Positive Sentiment: Analyst sentiment improved. Benchmark raised its price target from $33 to $35 and maintained a “buy” rating. Piper Sandler also increased its target from $26 to $29.50, though it retained a neutral rating. Analyst price target updates
• Neutral Sentiment: Unusually heavy options activity included purchases of 4,968 call contracts versus typical volume of about 22. This signals increased speculative interest but does not guarantee further gains.
• Negative Sentiment: Revenue of $41.1 million was below the $43.8 million consensus estimate, deposits declined by $150.3 million, or 3%, sequentially, and profitability metrics remain pressured, including a negative reported net margin and return on equity.

About First Internet Bancorp

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).