First Internet Bancorp price target lowered to $25 from $27 at Keefe Bruyette

Keefe Bruyette analyst Tim Switzer lowered the firm’s price target on First Internet Bancorp (INBK) to $25 from $27 and keeps a Market Perform rating on the shares. The bank’s Q3 results were broadly below expectations as credit issues within the small business and franchise finance portfolios continued, the analyst tells investors in a research note.