trending Market Intelligence /marketintelligence/en/news-insights/trending/T92R55EixdinirztPR0y_Q2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Craig-Hallum initiates coverage of First Internet Bancorp at 'buy'

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Craig-Hallum initiates coverage of First Internet Bancorp at 'buy'

Craig-Hallum Capital Group LLC analyst George Sutton initiated coverage of Fishers, Ind.-based First Internet Bancorp with a "buy" rating.

Low interest rates provide an opportunity for the bank to lower its funding costs, and the "improved regulatory backdrop" is also a positive for the bank, the analyst wrote in a note.

"We like the combination of focused growth, tremendous scale and the new tailwind created by the lower funding environment," Sutton wrote.

Sutton estimated that funding costs will be lowered by $8 million based on current CD rates, and he expects net interest margin to grow. The bank's large scale and Small Business Administration loan portfolio, which the bank purchased from Paonia, Colo.-based First Colorado National Bank, will provide opportunities for the bank to expand.

The analyst set a price target of $33, with estimated EPS of $2.38 for 2019, $2.65 for 2020 and $3.42 for 2021.