First Internet Bancorp price target lowered to $18 from $27 at Craig-Hallum

Craig-Hallum analyst George Sutton lowered the firm’s price target on First Internet Bancorp to $18 from $27 and keeps a Hold rating on the shares. First Internet’s Q1 results were better than feared and the firm is encouraged by loan, and deposit growth, and SBA gain on sale revenue, but remains at a Hold given NIM and industry challenges, the analyst tells investors in a research note.