Benchmark Reiterates Buy Rating on INBK, Sets $33 Target
Benchmark analyst Brett Rabatin maintains a buy rating for INBK, aiming for a $33 price target, a 25.43% upside from the current price.
Key Points
- Benchmark's Brett Rabatin reiterated a buy rating on INBK with a $33 price target on June 25, 2026.
- Benchmark's $33 price target implies 25.43% upside from First Internet Bancorp's ($INBK) current $26.31 share price.
- INBK shares were trading around $26.31 on Thursday, with active institutional interest from several funds.
- Insiders at INBK, including Christian Justin and Aasif Bade, purchased shares on May 18, 2026.
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Benchmark analyst Brett Rabatin reiterated a buy rating on INBK, setting a price target of $33. This update came on June 25, 2026, as the stock traded near $26.31 on Thursday.
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Other Institutional Activity in INBK
BlackRock, Inc. reduced its holdings in INBK by 51,658 shares, ending with 778,524 shares valued at about $15.87 million, marking a 6.2% decrease. Heartland Advisors Inc saw a 33.4% increase in its stake, adding 96,305 shares for a total of 384,900 shares worth approximately $7.84 million. Dimensional Fund Advisors LP decreased its position by 55,774 shares, now holding 375,809 shares valued at $7.66 million, a 12.9% reduction. Aegis Financial Corp boosted its holdings by 103,941 shares to 354,261 shares, valued at $7.22 million, representing a 41.5% increase. Vanguard Capital Management LLC opened a new position with 336,248 shares valued at $6.85 million.
First Internet Bancorp Stock Down 6.1%
Shares of INBK traded near $26.31 on Thursday. The company has seen active trading and interest from various institutional investors.
$INBK price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Insider Buying and Selling at First Internet Bancorp
Several insiders at INBK, including Christian Justin, Aasif Bade, John Keach Jr, Joseph Fenech, Michele Raines, and Jean Wojtowicz, purchased 2,416 shares each on May 18, 2026. These transactions were not made under a pre-planned trading program.
Analysts Set New Price Targets
On June 25, 2026, Benchmark initiated coverage on INBK with a buy rating and a $33 price target. Previously, on May 1, 2026, Piper Sandler and Keefe, Bruyette & Woods maintained hold ratings with targets of $24.0. Earlier in the year, Piper Sandler had maintained a hold rating with a target of $23.5 on January 30, 2026.
Bottom Line
Benchmark's reaffirmation of its buy rating and a $33 target highlights confidence in INBK's potential. As institutional and insider activities show varied interest, investors watch these signals closely. Remember, 13F filings and analyst ratings are backward-looking and may not reflect current market conditions.
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