2 weeks Ago By ABMN Staff
Rhumbline Advisers increased its stake in First Internet Bancorp ( NASDAQ:INBK – Free Report ) by 2,179.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,483 shares of the bank’s stock after acquiring an additional 9,067 shares during the period.
Rhumbline Advisers’ holdings in First Internet Bancorp were worth $256,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds have also bought and sold shares of INBK. Valeo Financial Advisors LLC lifted its position in First Internet Bancorp by 2.
6% in the second quarter. Valeo Financial Advisors LLC now owns 23,967 shares of the bank’s stock valued at $648,000 after purchasing an additional 606 shares during the last quarter. Bank of New York Mellon Corp lifted its position in First Internet Bancorp by 149.
9% during the second quarter. Bank of New York Mellon Corp now owns 38,972 shares of the bank’s stock valued at $1,053,000 after buying an additional 23,376 shares during the period. Quadrature Capital Ltd increased its stake in shares of First Internet Bancorp by 33.
0% during the fourth quarter. Quadrature Capital Ltd now owns 47,209 shares of the bank’s stock valued at $1,142,000 after purchasing an additional 11,707 shares in the last quarter. Foundry Partners LLC grew its stake in shares of First Internet Bancorp by 56.
6% in the first quarter. Foundry Partners LLC now owns 97,245 shares of the bank’s stock worth $3,378,000 after acquiring an additional 35,140 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in First Internet Bancorp by 263.
2% in the first quarter. Acadian Asset Management LLC now owns 97,600 shares of the bank’s stock worth $3,389,000 after buying an additional 70,725 shares during the last quarter. 65.
46% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth INBK has been the subject of a number of research analyst reports. Hovde Group lifted their price target on shares of First Internet Bancorp from $38.
00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on shares of First Internet Bancorp from $30.
00 to $40.50 and gave the company a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of First Internet Bancorp from $36.
00 to $42.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, Craig Hallum raised their price target on First Internet Bancorp from $40.
00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company.
According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.88.
First Internet Bancorp Stock Performance INBK stock opened at $33.04 on Friday. The company has a debt-to-equity ratio of 1.
83, a quick ratio of 1.01 and a current ratio of 1.02.
The firm has a market cap of $285.99 million, a price-to-earnings ratio of 17.39 and a beta of 0.
66. The firm has a 50-day simple moving average of $34.71 and a two-hundred day simple moving average of $32.
06. First Internet Bancorp has a one year low of $14.11 and a one year high of $39.
46. First Internet Bancorp ( NASDAQ:INBK – Get Free Report ) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.
72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $81.
99 million during the quarter, compared to the consensus estimate of $30.55 million. First Internet Bancorp had a return on equity of 5.
23% and a net margin of 6.12%. During the same quarter last year, the company earned $0.
44 earnings per share. On average, equities analysts forecast that First Internet Bancorp will post 3 EPS for the current fiscal year. First Internet Bancorp Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th.
Shareholders of record on Monday, September 30th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 30th.
This represents a $0.24 annualized dividend and a yield of 0.73%.
First Internet Bancorp’s dividend payout ratio is presently 12.63%. First Internet Bancorp Profile ( Free Report ) First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States.
The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit. See Also Want to see what other hedge funds are holding INBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Internet Bancorp ( NASDAQ:INBK – Free Report ).
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