Thrivent Financial for Lutherans Purchases 3,477 Shares of First Internet Bancorp (NASDAQ:INBK)

Thrivent Financial for Lutherans raised its holdings in First Internet Bancorp (NASDAQ:INBK) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,053 shares of the bank’s stock after buying an additional 3,477 shares during the quarter. Thrivent Financial for Lutherans owned about 0.31% of First Internet Bancorp worth $926,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in INBK. SG Americas Securities LLC bought a new stake in First Internet Bancorp during the 3rd quarter valued at approximately $145,000. Rhumbline Advisers grew its stake in shares of First Internet Bancorp by 2,179.6% in the second quarter. Rhumbline Advisers now owns 9,483 shares of the bank’s stock worth $256,000 after acquiring an additional 9,067 shares during the last quarter. Valeo Financial Advisors LLC grew its position 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 purchasing an additional 606 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of First Internet Bancorp by 219.0% during the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank’s stock valued at $681,000 after buying an additional 17,300 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of First Internet Bancorp by 9.6% in the 2nd 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 in the last quarter. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Price Performance

Shares of NASDAQ:INBK opened at $41.72 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The business has a 50-day simple moving average of $37.08 and a two-hundred day simple moving average of $33.71. First Internet Bancorp has a fifty-two week low of $21.96 and a fifty-two week high of $43.26. The firm has a market cap of $361.63 million, a price-to-earnings ratio of 16.43 and a beta of 0.66.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $32.50 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, analysts expect that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s dividend payout ratio (DPR) is currently 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.