First Internet Bancorp price target raised to $33 from $23.50 at Piper Sandler

Piper Sandler raised the firm’s price target on First Internet Bancorp to $33 from $23.50 and keeps a Neutral rating on the shares. The firm is more positive on First Internet Bancorp on the heels of strong Q4 results that underscored the likely inflection point in its profitability compression as the Fed raised S-T rates over the last couple years.