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

Barclays PLC lifted its position in First Internet Bancorp (NASDAQ:INBK) by 20.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its holdings in First Internet Bancorp by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 24,278 shares of the bank’s stock valued at $832,000 after purchasing an additional 311 shares during the period. LSV Asset Management grew its stake in First Internet Bancorp by 2.1% in the 2nd quarter. LSV Asset Management now owns 39,200 shares of the bank’s stock valued at $1,059,000 after acquiring an additional 800 shares during the period. ClariVest Asset Management LLC increased its holdings in First Internet Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 50,243 shares of the bank’s stock worth $1,358,000 after acquiring an additional 1,404 shares in the last quarter. Victory Capital Management Inc. raised its position in First Internet Bancorp by 9.6% during the second quarter. Victory Capital Management Inc. now owns 28,500 shares of the bank’s stock worth $770,000 after acquiring an additional 2,500 shares during the period. Finally, MetLife Investment Management LLC raised 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 acquiring an additional 2,669 shares during the period. 65.46% of the stock is owned by hedge funds and other institutional investors.

First Internet Bancorp Trading Down 0.3 %

NASDAQ INBK opened at $35.99 on Thursday. 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 market capitalization of $311.96 million, a P/E ratio of 14.17 and a beta of 0.70. The firm’s 50-day moving average is $39.02 and its two-hundred day moving average is $35.20. First Internet Bancorp has a 12 month low of $23.05 and a 12 month high of $43.26.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The firm had revenue of $87.02 million for 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 quarter last year, the company earned $0.39 earnings per share. On average, sell-side analysts anticipate that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.24 annualized dividend and a yield of 0.67%. First Internet Bancorp’s dividend payout ratio is presently 9.45%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price objective on First Internet Bancorp from $41.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.63.

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.