16,088 Shares in First Internet Bancorp (NASDAQ:INBK) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of First Internet Bancorp (NASDAQ:INBK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,088 shares of the bank’s stock, valued at approximately $579,000. Proficio Capital Partners LLC owned approximately 0.19% of First Internet Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in First Internet Bancorp during the 4th quarter valued at $33,000. MetLife Investment Management LLC raised its position in First Internet Bancorp by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock valued at $162,000 after purchasing an additional 2,669 shares in the last quarter. SG Americas Securities LLC raised its position in First Internet Bancorp by 22.5% during the 4th quarter. SG Americas Securities LLC now owns 5,181 shares of the bank’s stock valued at $186,000 after purchasing an additional 953 shares in the last quarter. XTX Topco Ltd bought a new stake in First Internet Bancorp during the 3rd quarter valued at $201,000. Finally, Jane Street Group LLC bought a new stake in First Internet Bancorp during the 3rd quarter valued at $203,000. 65.46% of the stock is owned by institutional investors.

First Internet Bancorp Trading Down 0.9 %

INBK opened at $28.26 on Monday. The firm has a market cap of $244.96 million, a price-to-earnings ratio of 9.78 and a beta of 0.72. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. First Internet Bancorp has a 12 month low of $24.18 and a 12 month high of $43.26. The stock has a fifty day moving average price of $32.84 and a 200-day moving average price of $35.57.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.51). First Internet Bancorp had a return on equity of 5.86% and a net margin of 7.45%. As a group, equities research analysts anticipate that First Internet Bancorp will post 4.11 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.24 annualized dividend and a yield of 0.85%. First Internet Bancorp’s dividend payout ratio (DPR) is 8.30%.

Analysts Set New Price Targets

A number of brokerages have weighed in on INBK. StockNews.com raised First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Piper Sandler reduced their price target on First Internet Bancorp from $42.50 to $38.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target (down from $45.00) on shares of First Internet Bancorp in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, First Internet Bancorp currently has an average rating of “Moderate Buy” and an average target price of $41.75.

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.