First Internet Bancorp price target lowered to $40 from $45 at Keefe Bruyette

Keefe Bruyette analyst Timothy Switzer lowered the firm’s price target on First Internet Bancorp (INBK) to $40 from $45 and keeps a Market Perform rating on the shares. There remains some uncertainty around the future credit performance of First Internet Bancorp’s relatively new Small Business Administration lending business, the analyst tells investors in a research note.