Victory Capital Management Inc. Cuts Position in First Internet Bancorp (NASDAQ:INBK)

Victory Capital Management Inc. reduced its stake in shares of First Internet Bancorp (NASDAQ:INBK) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,750 shares of the bank’s stock after selling 750 shares during the quarter. Victory Capital Management Inc. owned 0.32% of First Internet Bancorp worth $951,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in First Internet Bancorp during the 3rd quarter valued at approximately $145,000. Rhumbline Advisers raised its stake in First Internet Bancorp by 2,179.6% during the 2nd quarter. Rhumbline Advisers now owns 9,483 shares of the bank’s stock valued at $256,000 after acquiring an additional 9,067 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in First Internet Bancorp by 189.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,576 shares of the bank’s stock valued at $637,000 after acquiring an additional 15,444 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in First Internet Bancorp by 2.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 23,967 shares of the bank’s stock valued at $648,000 after acquiring an additional 606 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in First Internet Bancorp by 219.0% during the 2nd quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank’s stock valued at $681,000 after acquiring an additional 17,300 shares in the last quarter. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

First Internet Bancorp Stock Up 0.8 %

Shares of First Internet Bancorp stock opened at $41.91 on Thursday. First Internet Bancorp has a 1-year low of $19.49 and a 1-year high of $43.26. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The business’s fifty day moving average price is $36.69 and its two-hundred day moving average price is $33.49. The company has a market capitalization of $363.36 million, a P/E ratio of 16.50 and a beta of 0.66.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). First Internet Bancorp had a return on equity of 6.06% and a net margin of 6.92%. The firm had revenue of $87.02 million during the quarter, compared to the consensus estimate of $32.50 million. During the same period in the prior year, the firm posted $0.39 EPS. As a group, research analysts forecast that First Internet Bancorp will post 3.07 EPS for the current year.

First Internet Bancorp Dividend Announcement

The company also recently disclosed 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 0.57%. The ex-dividend date was Monday, September 30th. First Internet Bancorp’s dividend payout ratio is presently 9.45%.

First Internet Bancorp Company Profile

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.