There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on First Internet Bancorp (NASDAQ:INBK) and Customers Bancorp (NYSE:CUBI) with bullish sentiments.
First Internet Bancorp (INBK)
In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on First Internet Bancorp, with a price target of $30. The company’s shares closed yesterday at $24.69, close to its 52-week low of $24.20.
Diana observed:
“INBK reported 3Q18 EPS of $0.61, matching consensus. While loan growth was strong (5.1% linked-quarter), it represented a slowdown from the average of recent quarters. More importantly, the NIM was down 10bps.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.7% and a 52.8% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
First Internet Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $38.33, which is a 55.2% upside from current levels. In a report released yesterday, Craig-Hallum also maintained a Buy rating on the stock with a $45 price target.
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Customers Bancorp (CUBI)
In a report released today, Matthew Schultheis from Boenning & Scattergood upgraded Customers Bancorp to Buy, with a price target of $22.75. The company’s shares closed yesterday at $19.20, close to its 52-week low of $18.57.
According to TipRanks.com, Schultheis is a 3-star analyst with an average return of 2.7% and a 45.1% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Fulton Financial Corp.
Currently, the analyst consensus on Customers Bancorp is a Strong Buy with an average price target of $32.56, representing a 69.6% upside. In a report issued on October 15, Sandler O’Neill also upgraded the stock to Buy with a $26.50 price target.
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