Quantinno Capital Management LP Acquires 20,582 Shares of First Internet Bancorp $INBK

Quantinno Capital Management LP lifted its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 14.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,421 shares of the bank’s stock after acquiring an additional 20,582 shares during the quarter. Quantinno Capital Management LP owned 1.86% of First Internet Bancorp worth $3,310,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bridgeway Capital Management LLC increased its position in shares of First Internet Bancorp by 1.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock valued at $992,000 after purchasing an additional 584 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of First Internet Bancorp by 1.5% during the 4th quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock worth $1,006,000 after purchasing an additional 691 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of First Internet Bancorp by 19.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank’s stock worth $126,000 after purchasing an additional 1,000 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of First Internet Bancorp by 7.1% in the 4th quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock worth $320,000 after purchasing an additional 1,012 shares during the period. Finally, Man Group plc lifted its stake in First Internet Bancorp by 5.1% in the third quarter. Man Group plc now owns 21,818 shares of the bank’s stock valued at $489,000 after purchasing an additional 1,053 shares during the last quarter. 65.46% of the stock is currently owned by institutional investors.

First Internet Bancorp Stock Performance

Shares of INBK opened at $29.21 on Friday. First Internet Bancorp has a 52-week low of $17.05 and a 52-week high of $31.09. The stock’s 50-day simple moving average is $26.64 and its 200 day simple moving average is $23.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market capitalization of $254.71 million, a price-to-earnings ratio of -8.11 and a beta of 0.83.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%.The business had revenue of $41.12 million during the quarter, compared to analyst estimates of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. Research analysts forecast that First Internet Bancorp will post 2.36 EPS for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. First Internet Bancorp’s dividend payout ratio is -6.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on INBK shares. Keefe, Bruyette & Woods increased their price objective on First Internet Bancorp from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Benchmark upped their price target on First Internet Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Piper Sandler increased their price target on First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings upgraded First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.38.

About First Internet Bancorp

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).