First Internet Bancorp (NASDAQ:INBK) Shares Purchased by Barclays PLC

Barclays PLC raised its holdings in First Internet Bancorp (NASDAQ:INBK) by 20.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,286 shares of the bank’s stock after purchasing an additional 3,447 shares during the period. Barclays PLC owned about 0.23% of First Internet Bancorp worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in First Internet Bancorp by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank’s stock valued at $13,230,000 after buying an additional 42,227 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of First Internet Bancorp by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 201,641 shares of the bank’s stock valued at $6,909,000 after acquiring an additional 3,967 shares during the last quarter. Foundry Partners LLC raised its position in shares of First Internet Bancorp by 8.9% during the 3rd quarter. Foundry Partners LLC now owns 121,827 shares of the bank’s stock valued at $4,174,000 after acquiring an additional 9,977 shares in the last quarter. State Street Corp lifted its stake in 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 last quarter. Finally, American Century Companies Inc. boosted its holdings in First Internet Bancorp by 3.4% in the second quarter. American Century Companies Inc. now owns 86,239 shares of the bank’s stock worth $2,330,000 after purchasing an additional 2,857 shares during the period. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

First Internet Bancorp Price Performance

Shares of INBK opened at $35.09 on Friday. First Internet Bancorp has a 12 month low of $23.30 and a 12 month 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 stock has a fifty day moving average price of $38.65 and a 200 day moving average price of $35.75. The company has a market cap of $304.23 million, a P/E ratio of 13.82 and a beta of 0.73.

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 analysts’ consensus estimates of $0.81 by ($0.01). The firm had revenue of $87.02 million during the quarter, compared to analyst estimates 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 period last year, the business earned $0.39 EPS. On average, research analysts forecast that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.68%. First Internet Bancorp’s dividend payout ratio is presently 9.45%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on shares of 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 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.