First Internet Bancorp (NASDAQ:INBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $32.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.30% from the stock’s current price.

According to Zacks, “First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana. The Bank operates through the internet primarily in the United States. Its services includes checking accounts, regular and money market savings accounts, consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bancorp is based in Indianapolis, United States. “

INBK has been the topic of a number of other reports. FIG Partners reiterated an “outperform” rating on shares of First Internet Bancorp in a report on Wednesday, September 7th. Maxim Group lowered their price objective on First Internet Bancorp from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, July 25th.

Shares of First Internet Bancorp (NASDAQ:INBK) traded down 0.17% on Tuesday, hitting $28.75. The stock has a 50 day moving average of $25.70 and a 200-day moving average of $24.35. The stock has a market capitalization of $159.07 million, a P/E ratio of 13.35 and a beta of -0.15. First Internet Bancorp has a 12-month low of $22.01 and a 12-month high of $33.00.

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First Internet Bancorp Company Profile

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

5 Day Chart for NASDAQ:INBK

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