First Internet Bancorp (INBK) Stock AnalysisINBKStock AnalysisFirst Internet Bancorp

First Internet Bancorp is a bank holding company, which is engaged in conducting its primary business activities through its wholly owned subsidiary, First Internet Bank of Indiana (the Bank), an Indiana chartered bank. The Bank offers a range of commercial, small business, consumer and municipal banking products and services. The Bank conducts its consumer and small business deposit operations primarily through digital channels on a nationwide basis and have no traditional branch offices. Its consumer lending products are primarily originated on a nationwide basis through relationships with dealerships and financing partners. The Bank's commercial banking products and services are delivered through a relationship banking model and include commercial and industrial (C&I) banking, construction and investor commercial real estate, single tenant lease financing, public finance, healthcare finance, small business lending, commercial deposits, and treasury management. It operates in the Financials sector (STATE COMMERCIAL BANKS industry).

First Internet Bancorp is a good buy right now due to its current price of $28.01, which is below the analyst price target of $35, indicating a potential upside of 25%. Additionally, the company reported a significant 23% year-over-year revenue growth for Q2 2026, reaching $41.1 million, and has a forward P/E ratio of 8.45, suggesting it is undervalued compared to its earnings potential. The main risk is the recent negative net income of $41.5 million in Q3 2025, which highlights volatility in earnings.

5 analysts cover INBK: 5 rate it Buy, 0 Hold and 0 Sell. The average price target is 27.33.