First Internet Bancorp (NASDAQ:INBK) Rating Lowered to “Hold” at Wall Street Zen

First Internet Bancorp (NASDAQ:INBK) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

INBK has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of First Internet Bancorp in a research note on Friday, October 2nd. Piper Sandler increased their target price on First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a research report on Friday, July 31st. Zacks Research cut First Internet Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods boosted their price target on shares of First Internet Bancorp from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Benchmark increased 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. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.62.

First Internet Bancorp Stock Performance

Shares of NASDAQ:INBK opened at $25.81 on Friday. The company has a market capitalization of $225.32 million, a P/E ratio of 15.18 and a beta of 0.86. The company has a 50-day simple moving average of $27.17 and a 200 day simple moving average of $24.72. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.88. First Internet Bancorp has a 52-week low of $17.05 and a 52-week high of $31.09.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.21). First Internet Bancorp had a return on equity of 4.32% and a net margin of 4.27%. The business had revenue of $43.94 million for the quarter, compared to the consensus estimate of $46.17 million. Sell-side analysts forecast that First Internet Bancorp will post 2.25 earnings per share for the current year.

Institutional Trading of First Internet Bancorp

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new stake in First Internet Bancorp in the 2nd quarter valued at approximately $253,000. Wellington Management Group LLP acquired a new position in First Internet Bancorp during the 2nd quarter worth approximately $1,649,000. Empowered Funds LLC bought a new stake in shares of First Internet Bancorp during the 2nd quarter worth $426,000. Public Employees Retirement System of Ohio purchased a new stake in shares of First Internet Bancorp in the second quarter worth about $228,000. Finally, Bank of America Corp DE purchased a new position in shares of First Internet Bancorp during the 2nd quarter valued at about $1,444,000. 65.46% of the stock is owned by institutional investors.

More First Internet Bancorp News

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

• Positive Sentiment: Improved operating performance and outlook: Third-quarter revenue reached a record $43.9 million, up 7% sequentially. Net interest income rose 7%, net interest margin expanded to 2.47%, deposits increased 7% to $5.15 billion, and net charge-offs declined to 0.82% from 1.77%. Management expects fourth-quarter diluted EPS of $1.02-$1.07 and net interest margin of 2.75%-2.80%. First Internet Bancorp Reports Record Third-Quarter Revenue
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $29 from $27 while maintaining a “market perform” rating, implying roughly 12% upside from the referenced share price. The target increase reflects some confidence in the bank’s earnings outlook, though the neutral rating limits the bullish signal. Keefe, Bruyette and Woods Price Target Update
• Neutral Sentiment: Management’s earnings call will provide additional detail on credit quality, deposit growth, margins and the elevated fourth-quarter earnings forecast. Investors are likely to focus on whether the projected improvement is sustainable. First Internet Bancorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Third-quarter earnings missed expectations: EPS was reported at $0.57 versus the $0.78 consensus estimate, while revenue of $43.94 million came in below the $46.17 million forecast. The earnings miss, along with negative net margin and return on equity figures cited in the reports, likely contributed to the stock’s decline. First Internet Bancorp Lags Q3 Earnings and Revenue Estimates
• Negative Sentiment: Zacks Research downgraded INBK from “strong buy” to “hold,” adding to near-term investor caution following the earnings shortfall. Zacks Research Rating Update

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.