Jane Street Group LLC Purchases New Shares in First Internet Bancorp (NASDAQ:INBK)

Jane Street Group LLC acquired a new position in First Internet Bancorp (NASDAQ:INBK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,930 shares of the bank’s stock, valued at approximately $203,000. Jane Street Group LLC owned approximately 0.07% of First Internet Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INBK. State Street Corp increased its holdings in shares of First Internet Bancorp by 8.9% during the third quarter. State Street Corp now owns 106,282 shares of the bank’s stock worth $3,648,000 after purchasing an additional 8,701 shares during the period. MetLife Investment Management LLC grew its position in First Internet Bancorp by 129.1% during the third quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock worth $162,000 after buying an additional 2,669 shares in the last quarter. Foundry Partners LLC increased its stake in First Internet Bancorp by 8.9% during the 3rd quarter. Foundry Partners LLC now owns 121,827 shares of the bank’s stock worth $4,174,000 after acquiring an additional 9,977 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Internet Bancorp in the 3rd quarter valued at $469,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of First Internet Bancorp by 14.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,053 shares of the bank’s stock valued at $926,000 after acquiring an additional 3,477 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price target on First Internet Bancorp from $41.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

First Internet Bancorp Stock Performance

Shares of NASDAQ:INBK opened at $32.22 on Monday. The company’s 50 day simple moving average is $38.86 and its 200 day simple moving average is $35.66. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. First Internet Bancorp has a 1 year low of $23.30 and a 1 year high of $43.26. The stock has a market capitalization of $279.28 million, a price-to-earnings ratio of 12.69 and a beta of 0.73.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The business had revenue of $87.02 million during the quarter, compared to the consensus estimate of $32.50 million. First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, research 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 will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.74%. First Internet Bancorp’s payout ratio is currently 9.45%.

First Internet Bancorp 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.