First Internet Bancorp

INBK · NASDAQ

$25.99+$0.42 (+1.64%)TodayMarket closed · Oct 20, 4:01 PM ET

Prev close $25.57

INBK analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell0

12-month price target · 7 analysts

Average $31.52 (+21.3% upside)

Low: $28.28
Now: $25.99
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

INBK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Jul 31, 2026	Maintains	Neutral	$26.00 → $29.50	72%
Benchmark	Jul 31, 2026	Maintains	Buy	$33.00 → $35.00	39%
Piper Sandler	Jun 26, 2026	Maintains	Neutral	$24.00 → $26.00	72%
Benchmark	Jun 25, 2026	Initiates	Buy	$33.00	39%
Piper Sandler	May 1, 2026	Maintains	Neutral	$23.50 → $24.00	72%
Keefe, Bruyette & Woods	May 1, 2026	Maintains	Market Perform	$23.00 → $24.00	68%
Piper Sandler	Jan 30, 2026	Maintains	Neutral	$24.00 → $23.50	72%
Keefe, Bruyette & Woods	Jan 30, 2026	Maintains	Market Perform	$25.00 → $23.00	68%
Piper Sandler	Oct 27, 2025	Maintains	Neutral	$25.50 → $22.00	72%
Keefe, Bruyette & Woods	Oct 24, 2025	Maintains	Market Perform	$27.00 → $25.00	68%

The case for and against

Updated Jul 19, 2026

Bull case

First Internet is a bank holding company with a single segment focused on commercial banking. While their nonperforming assets have increased and credit costs remain elevated, management expects these issues to decrease in the second half of 2026 as the company continues to work on troubled SBA loans. While there are no immediate catalysts, there is potential for upside if the company is acquired by larger entities. With a conservative outlook on credit and fee income, analysts have decreased their earnings per share estimates and have a price target of $23.50 based on the company's credit overhang and profitability concerns.

Bear case

First Internet is facing challenges due to its sole reliance on internet-based operations and lack of physical branches, which could hinder its ability to attract and retain customers. In addition, the bank's heavy focus on commercial real estate lending poses a risk, as the CRE market is highly cyclical and vulnerable to economic downturns. The bank's high reliance on non-core funding sources, such as brokered deposits, also exposes it to potential liquidity issues in times of market stress.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.