First Internet Bancorp (NASDAQ:INBK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in First Internet Bancorp (NASDAQ:INBKFree Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,900 shares of the bank’s stock after selling 2,600 shares during the quarter. Victory Capital Management Inc. owned approximately 0.36% of First Internet Bancorp worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sapient Capital LLC acquired a new stake in First Internet Bancorp in the 4th quarter worth about $3,094,000. GSA Capital Partners LLP acquired a new stake in shares of First Internet Bancorp in the third quarter worth approximately $1,031,000. Patriot Financial Partners GP LP increased its position in shares of First Internet Bancorp by 1.9% during the third quarter. Patriot Financial Partners GP LP now owns 155,482 shares of the bank’s stock worth $2,520,000 after purchasing an additional 2,958 shares in the last quarter. Citigroup Inc. increased its position in shares of First Internet Bancorp by 101,984.6% during the third quarter. Citigroup Inc. now owns 26,542 shares of the bank’s stock worth $430,000 after purchasing an additional 26,516 shares in the last quarter. Finally, Acuitas Investments LLC acquired a new position in First Internet Bancorp in the 4th quarter valued at $1,940,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on INBK. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $36.00 target price (up previously from $34.00) on shares of First Internet Bancorp in a report on Friday, April 26th. Piper Sandler dropped their price objective on shares of First Internet Bancorp from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Finally, Hovde Group decreased their target price on shares of First Internet Bancorp from $38.50 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, April 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 presently has a consensus rating of “Hold” and an average target price of $35.75.

Check Out Our Latest Report on First Internet Bancorp

First Internet Bancorp Stock Performance

NASDAQ:INBK opened at $31.24 on Thursday. The company’s 50-day moving average is $32.23 and its two-hundred day moving average is $28.16. First Internet Bancorp has a 1-year low of $11.55 and a 1-year high of $35.72. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $270.54 million, a price-to-earnings ratio of 16.44 and a beta of 0.73.

First Internet Bancorp (NASDAQ:INBKGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.60 million. First Internet Bancorp had a net margin of 5.84% and a return on equity of 4.64%. Analysts forecast that First Internet Bancorp will post 3.1 EPS for the current year.

First Internet Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Wednesday, March 27th. 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.

Featured Articles

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:INBKFree Report).

Institutional Ownership by Quarter for First Internet Bancorp (NASDAQ:INBK)

Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.