Benchmark Reiterates Buy Rating for First Internet Bancorp
Benchmark has reiterated its buy rating for First Internet Bancorp with a price target of $33, a 21.15% upside from the current price.
Key Points
- Benchmark reiterated its buy rating for First Internet Bancorp (INBK) with a price target of $33 on June 25, 2026.
- Benchmark's $33 price target implies 21.15% upside from First Internet Bancorp's ($INBK) current $27.24 share price.
- Shares of NasdaqGS:INBK traded at $26.31 on Friday, with a market cap of approximately $238.9 million and a forward P/E ratio of 5.8.
- Insiders recently bought shares, and institutional investors like Heartland Advisors increased their holdings by 33.4%.
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Benchmark has reiterated its buy rating for First Internet Bancorp (NasdaqGS:INBK) with a price target of $33. This update came on June 25, 2026, from analyst Brett Rabatin. Shares of the company traded at $26.31 on Friday.
Benchmark vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
First Internet Bancorp Stock Down 2.7%
Shares of First Internet Bancorp, trading under the ticker INBK on the NasdaqGS, were priced at $26.31 on Friday. The company boasts a market cap of about $238.9 million and a forward P/E ratio of 5.8, indicating that it may be undervalued compared to its earnings potential. The stock has a beta of 0.866, suggesting less volatility compared to the market. Its 52-week range has seen lows of $17.05 and highs of $28.51. The 50-day moving average stands at $24.38, while the 200-day moving average is $21.83.
$INBK price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its most recent earnings report, First Internet Bancorp posted revenue of $47.4 million, with revenue growth of 13.7%. However, the company is currently not profitable, with a net margin of -70.9% and a return on equity of -8.98%. The next earnings release is scheduled for April 30, 2026.
Dividend
First Internet Bancorp pays an annual dividend of $0.24 per share, yielding 0.88%. The dividend payout ratio is 13.64%, indicating a conservative approach to dividend payments.
Insider Buying and Selling at First Internet Bancorp
On May 18, 2026, several insiders, including Christian Justin, Aasif Bade, and John Keach Jr., bought 2,416 shares each. These transactions were not part of a pre-planned trading program.
Analysts Set New Price Targets
On June 25, 2026, Benchmark reiterated its buy rating for First Internet Bancorp with a $33 price target. Piper Sandler and Keefe, Bruyette & Woods have maintained hold ratings, with targets ranging from $22 to $26. The consensus recommendation among five analysts is a buy, with an average price target of $27.2.
About First Internet Bancorp
First Internet Bancorp is a financial services company based in Fishers, Indiana. It operates as the bank holding company for First Internet Bank of Indiana, providing a variety of banking products and services. The company serves both individual and commercial customers in the U.S., offering deposit accounts, loans, and treasury management services. Founded in 1998, First Internet Bancorp is led by CEO David B. Becker and employs 354 people.
Bottom Line
Benchmark's reiteration of a buy rating with a $33 target reflects continued confidence in First Internet Bancorp's potential. With a forward P/E of 5.8 and recent insider buying, investors may find the stock attractive. However, it's important to remember that analyst ratings are based on past performance and expectations, and actual results may vary.
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