First Internet Bancorp (INBK) Fair Value 2026

INBK · Banks - Regional ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

6.7 /10

32 fundamental signals · 3 models active

Value Trap Risk

SAFE (8/100)

Quick Summary — As of 2026-08-27, First Internet Bancorp (INBK) trades at $27.44, versus a $45.30 median fair value across its 3 active models — 65.1% above the current price. QOC: 6.7/10. Value Trap Risk: 8/100 (SAFE). 3/13 models active.

Key Facts

Ticker
INBK
Price
$27.44
Quality Score
6.7/10
Value Trap Risk
8/100
Models Active
3/13
Last Updated
Strength: Regime Cross-Sectional suggests +153.1% upside with 41% confidence
Risk: Limited model coverage (3/13) may reduce confidence

Is First Internet Bancorp (INBK) Undervalued or Overvalued in 2026?

According to CirclFi’s 3-model valuation engine, First Internet Bancorp (INBK) appears undervalued as of : the median of 3 independent fair value estimates is $45.30, 65.1% above the current price of $27.44. Estimates range from $18.94 to $69.45. INBK scores 6.7/10 on fundamental quality and 8/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. INBK’s +65.1% gap is wider than that market norm, and the Banks - Regional sector median is -22.0%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy First Internet Bancorp Stock in 2026? →

What Fair Value Does Each Model Give INBK?

3 Intrinsic Value Models vs. Current Price ($27.44)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $18.94 -31.0%
Relative · Medium Conviction
 $69.45 +153.1%
Relative · Low Conviction
 $45.30 +65.1%

All Models Active

All 3 models are displayed above.

What Is INBK's Fair Value Range?

Spread across 3 independent models · $18.94 to $69.45

CirclFi's 3 active models place First Internet Bancorp (INBK) between $18.94 and $69.45 per share, a spread of 112% of the median. The median of that range — $45.30 — is the fair value CirclFi publishes for INBK, against a current price of $27.44.

Low · EPVHigh · Regime Cross
$18.94median $45.30$69.45
Where the range comes from
Most bearish modelEarnings Power Value (EPV)$18.94
Most bullish modelRegime Cross-Sectional$69.45
Model agreement2 bullish · 1 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for INBK. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on INBK, not a CirclFi price target. How each model works →

What Is First Internet Bancorp (INBK) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, First Internet Bancorp's intrinsic value is estimated at a median fair value of $45.30. While the stock appears modestly undervalued at $27.44 (implied upside of +65.1%), our analysis suggests a thinner margin of safety across 2 of 3 bullish models. Notably, Regime Cross sees the most upside at +153.1% (fair value: $69.45), while EPV is the most conservative at -31.0% ($18.94). The spread between these extremes — +184.1% — reveals how different analytical frameworks can reach starkly different conclusions.

What Do the Models Say About INBK?

3 of 13 models are currently active for INBK. Of these, 2 models suggest upside while 1 model suggests overvaluation. Taken together, their median fair value for INBK is $45.30 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does INBK Rank in Banks - Regional?

Among 349 Banks - Regional stocks, INBK ranks #315 by Quality of Company score. CirclFi's QOC score of 6.7/10 evaluates 32 fundamental signals. A score of 6.7 indicates above-average quality.

See all Most Undervalued Banks - Regional Stocks →

The Banks - Regional sector introduces analytical considerations specific to financial institution businesses. For First Internet Bancorp, metrics like return on tangible equity provide important context that general-purpose valuation models may underweight.

Is INBK a Value Trap?

CirclFi's Value Trap algorithm assigns INBK a score of 8/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

3 of 13 models are active for First Internet Bancorp. Limited activation may indicate insufficient history. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Deep Alpha Valuation Engine, First Internet Bancorp scores 6.7 out of 10 on our 32-signal quality assessment, a solid rating that maintains reasonable quality metrics with some areas for improvement. The QOC score synthesizes profitability margins, revenue growth reliability, debt management, and capital allocation into a single metric designed to separate durable businesses from statistically cheap ones.

The gap between the most bullish and bearish model spans +184.1% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every INBK valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across INBK's 3 active models, average confidence is 39%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy First Internet Bancorp Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Banks - Regional Stocks Should You Also Analyze?

11 related Banks - Regional stocks with 13-model coverage

FGBIFirst Guaranty Bancshares, Inc.QOC 6.7NEWTNewtekOne, Inc.QOC 6.7BAFNBayFirst Financial Corp.QOC 6.8SNNFSeneca Bancorp, Inc.QOC 6.7EGBNEagle Bancorp, Inc.QOC 6.8KFFBKentucky First Federal BancorpQOC 6.6OVLYOak Valley BancorpQOC 8.5SBFGSB Financial Group, Inc.QOC 8.2CBFVCB Financial Services, Inc.QOC 7.8ESQEsquire Financial Holdings, Inc.QOC 9.1PEBOPeoples Bancorp Inc.QOC 9.1

Read investment analysis: FGBI · NEWT · BAFN · SNNF · EGBN · KFFB · OVLY · SBFG · CBFV · ESQ · PEBO

Which Other Stocks Have a Similar Quality Score to INBK?

7 companies across all industries closest to INBK’s Quality of Company score of 6.7/10.

TAITTaitron Components IncorporatedQOC 6.7AMNAMN Healthcare Services, Inc.QOC 6.7NXDRNextdoor Holdings, Inc.QOC 6.7INNVInnovAge Holding Corp.QOC 6.7MMIMarcus & Millichap, Inc.QOC 6.7GKOSGlaukos CorporationQOC 6.7NVDANVIDIA CorporationQOC 10.0

Read investment analysis: TAIT · AMN · NXDR · INNV · MMI · GKOS · NVDA

Where Does INBK Sit in CirclFi's Banks - Regional Rankings?

INBK is ranked against every other Banks - Regional stock CirclFi covers in each of these screens.

See all Banks - Regional stocks ranked →

What Else Do Investors Ask About First Internet Bancorp’s Valuation?

What is First Internet Bancorp's intrinsic value in 2026?

CirclFi puts First Internet Bancorp (INBK)'s intrinsic value at $45.30 — the median of 3 independent model estimates as of 2026-08-27, ranging from $18.94 to $69.45. The Quality of Company score is 6.7/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is INBK overvalued or undervalued right now?

At $27.44, 2 of 3 active models suggest INBK may be undervalued, while 1 indicate potential overvaluation. The median of all 3 fair value estimates is $45.30, 65.1% above the current price of $27.44 — a consensus view that INBK is undervalued. The assessment depends on which methodology best fits First Internet Bancorp's business model in Banks - Regional.

What does a Quality of Company score of 6.7 mean for INBK?

First Internet Bancorp's QOC of 6.7/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on INBK?

CirclFi analyzes INBK with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 3 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on INBK?

Of the 3 models currently active on INBK, Regime Cross-Sectional is the most bullish at $69.45 per share, and Earnings Power Value (EPV) is the most bearish at $18.94. CirclFi's published fair value for INBK is the median of that range, $45.30, not either extreme. The gap between the two ends equals 112% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is INBK a value trap in 2026?

First Internet Bancorp's Value Trap score is 8/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 3-model valuation engine, First Internet Bancorp (INBK) has a median fair value of $45.30 — 65.1% above the current price of $27.44 — as of 2026-08-27.” Source: circlfi.com/stock/INBK/ · Methodology
Primary sources for this INBK valuation
  • Financial statements: First Internet Bancorp 10-K and 10-Q filings on SEC EDGAR (CIK 0001562463) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for INBK as of ; valuations recomputed .