First Internet Bancorp (NASDAQ:INBK) Price Target Raised to $29.50 at Piper Sandler

First Internet Bancorp (NASDAQ:INBK) had its target price upped by Piper Sandler from $26.00 to $29.50 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

INBK has been the subject of a number of other research reports. Benchmark increased their price target on shares of First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of 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 upgraded 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 raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Internet Bancorp has a consensus rating of “Hold” and a consensus target price of $29.38.

First Internet Bancorp Trading Up 12.1%

Shares of INBK stock opened at $29.46 on Friday. The business’s fifty day moving average price is $26.10 and its 200 day moving average price is $23.35. The firm has a market capitalization of $256.89 million, a PE ratio of -8.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87. First Internet Bancorp has a 1-year low of $17.05 and a 1-year high of $30.05.

First Internet Bancorp (NASDAQ:INBK) last released its earnings results on Thursday, July 30th. The bank reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $41.12 million during the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%.First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, sell-side analysts forecast that First Internet Bancorp will post 1.98 EPS for the current fiscal year.

First Internet Bancorp Dividend Announcement

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

Institutional Investors Weigh In On First Internet Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in First Internet Bancorp by 7.3% in the 2nd quarter. Versant Capital Management Inc now owns 5,533 shares of the bank’s stock valued at $154,000 after acquiring an additional 376 shares during the last quarter. Bridgeway Capital Management LLC raised its position in First Internet Bancorp by 1.3% during the third quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock worth $992,000 after acquiring an additional 584 shares during the last quarter. GSA Capital Partners LLP raised its position in First Internet Bancorp by 1.5% during the fourth quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock worth $1,006,000 after acquiring an additional 691 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of First Internet Bancorp by 19.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank’s stock valued at $126,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of First Internet Bancorp by 7.1% in the fourth quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock valued at $320,000 after purchasing an additional 1,012 shares in the last quarter. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

More First Internet Bancorp News

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).