Fiduciary Trust Co Has $5.68 Million Position in First Internet Bancorp (NASDAQ:INBK)

Fiduciary Trust Co trimmed its position in First Internet Bancorp (NASDAQ:INBKFree Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 234,757 shares of the bank’s stock after selling 8,685 shares during the period. Fiduciary Trust Co owned about 2.72% of First Internet Bancorp worth $5,679,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in First Internet Bancorp by 27.5% in the third quarter. Public Employees Retirement System of Ohio now owns 12,018 shares of the bank’s stock worth $195,000 after purchasing an additional 2,592 shares during the period. Barclays PLC grew its stake in shares of First Internet Bancorp by 42.1% during the third quarter. Barclays PLC now owns 15,342 shares of the bank’s stock worth $249,000 after purchasing an additional 4,543 shares during the period. Citigroup Inc. increased its holdings in First Internet Bancorp by 101,984.6% in the third quarter. Citigroup Inc. now owns 26,542 shares of the bank’s stock valued at $430,000 after purchasing an additional 26,516 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of First Internet Bancorp by 44.4% during the 3rd quarter. Quadrature Capital Ltd now owns 35,502 shares of the bank’s stock worth $569,000 after buying an additional 10,916 shares during the period. Finally, GSA Capital Partners LLP bought a new position in First Internet Bancorp during the 3rd quarter worth approximately $1,031,000. 65.46% of the stock is owned by institutional investors and hedge funds.

First Internet Bancorp Stock Down 1.0 %

NASDAQ:INBK traded down $0.30 on Wednesday, hitting $28.90. 33,253 shares of the company’s stock were exchanged, compared to its average volume of 50,854. The company has a market cap of $250.27 million, a P/E ratio of 15.37 and a beta of 0.73. The firm has a 50-day moving average price of $32.15 and a 200-day moving average price of $28.63. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.02 and a quick ratio of 1.02. First Internet Bancorp has a 52 week low of $11.55 and a 52 week high of $35.72.

First Internet Bancorp (NASDAQ:INBKGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.60 million. First Internet Bancorp had a return on equity of 4.64% and a net margin of 5.84%. As a group, analysts expect that First Internet Bancorp will post 3.1 EPS for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Wednesday, March 27th. First Internet Bancorp’s dividend payout ratio is currently 12.63%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INBK. Hovde Group dropped their price objective on First Internet Bancorp from $38.50 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Piper Sandler cut their price target on shares of First Internet Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $36.00 price objective (up from $34.00) on shares of First Internet Bancorp in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.75.

View Our Latest Report on First Internet Bancorp

About First Internet Bancorp

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for First Internet Bancorp (NASDAQ:INBK)

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