GSA Capital Partners LLP Has $557,000 Stock Holdings in First Internet Bancorp (NASDAQ:INBK)

GSA Capital Partners LLP lessened its holdings in First Internet Bancorp (NASDAQ:INBK) by 57.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,254 shares of the bank’s stock after selling 21,556 shares during the period. GSA Capital Partners LLP owned about 0.19% of First Internet Bancorp worth $557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INBK. Dimensional Fund Advisors LP boosted its stake in shares of First Internet Bancorp by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank’s stock worth $13,230,000 after acquiring an additional 42,227 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of First Internet Bancorp by 7.0% during the 1st quarter. Ancora Advisors LLC now owns 216,712 shares of the bank’s stock worth $7,529,000 after purchasing an additional 14,190 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of First Internet Bancorp by 50.9% during the 2nd quarter. Acadian Asset Management LLC now owns 147,275 shares of the bank’s stock worth $3,978,000 after purchasing an additional 49,675 shares during the last quarter. Foundry Partners LLC lifted its position in shares of First Internet Bancorp by 15.0% during the 2nd quarter. Foundry Partners LLC now owns 111,850 shares of the bank’s stock worth $3,022,000 after purchasing an additional 14,605 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in First Internet Bancorp by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 86,239 shares of the bank’s stock valued at $2,330,000 after acquiring an additional 2,857 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

First Internet Bancorp Trading Up 0.4 %

Shares of INBK opened at $40.43 on Wednesday. The stock has a market cap of $350.45 million, a PE ratio of 15.85 and a beta of 0.66. First Internet Bancorp has a 1 year low of $17.82 and a 1 year high of $42.89. The stock has a 50 day simple moving average of $35.74 and a 200-day simple moving average of $33.07. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The business had revenue of $87.02 million for the quarter, compared to the consensus estimate of $32.50 million. First Internet Bancorp had a return on equity of 6.06% and a net margin of 6.92%. During the same quarter last year, the company earned $0.39 earnings per share. On average, sell-side analysts predict that First Internet Bancorp will post 3.07 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s dividend payout ratio (DPR) is currently 9.45%.

Analysts Set New Price Targets

Several research firms have commented on INBK. Craig Hallum upped their price target on First Internet Bancorp from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price target on First Internet Bancorp from $36.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Hovde Group upped their price target on First Internet Bancorp from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Piper Sandler increased their target price on First Internet Bancorp from $30.00 to $40.50 and gave the stock a “neutral” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, First Internet Bancorp has an average rating of “Hold” and a consensus price target of $42.88.

About First Internet Bancorp

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.