Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 13,689 First Internet Bancorp (NASDAQ:INBK)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in First Internet Bancorp (NASDAQ:INBK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,689 shares of the bank’s stock, valued at approximately $469,000. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of First Internet Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake 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 worth $648,000 after purchasing an additional 606 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in First Internet Bancorp by 149.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 38,972 shares of the bank’s stock valued at $1,053,000 after acquiring an additional 23,376 shares during the period. Rhumbline Advisers grew its position in First Internet Bancorp by 2,179.6% in 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 during the last quarter. Victory Capital Management Inc. increased its stake in First Internet Bancorp by 9.6% in the second quarter. Victory Capital Management Inc. now owns 28,500 shares of the bank’s stock worth $770,000 after purchasing an additional 2,500 shares during the period. Finally, Foundry Partners LLC lifted its position in shares of First Internet Bancorp by 15.0% during the second 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. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Trading Up 0.0 %

NASDAQ INBK opened at $41.93 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market cap of $363.53 million, a PE ratio of 16.51 and a beta of 0.66. The company’s 50-day moving average price is $36.95 and its 200-day moving average price is $33.62. First Internet Bancorp has a 12 month low of $19.49 and a 12 month high of $43.26.

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

First Internet Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s dividend payout ratio (DPR) is 9.45%.

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.