Hotchkis & Wiley Capital Management LLC Has $6.67 Million Position in First Internet Bancorp (NASDAQ:INBK)

Hotchkis & Wiley Capital Management LLC lowered its position in First Internet Bancorp (NASDAQ:INBK) by 4.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,555 shares of the bank’s stock after selling 8,020 shares during the period. Hotchkis & Wiley Capital Management LLC owned 2.24% of First Internet Bancorp worth $6,665,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in INBK. Acadian Asset Management LLC increased its holdings in First Internet Bancorp by 50.9% in the second quarter. Acadian Asset Management LLC now owns 147,275 shares of the bank’s stock worth $3,978,000 after buying an additional 49,675 shares during the last quarter. 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 worth $13,230,000 after buying an additional 42,227 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in First Internet Bancorp by 149.9% in the second quarter. Bank of New York Mellon Corp now owns 38,972 shares of the bank’s stock worth $1,053,000 after buying an additional 23,376 shares during the last quarter. Renaissance Technologies LLC increased its holdings in First Internet Bancorp by 219.0% in the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank’s stock worth $681,000 after buying an additional 17,300 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in First Internet Bancorp by 189.9% in the second quarter. Thrivent Financial for Lutherans now owns 23,576 shares of the bank’s stock worth $637,000 after buying an additional 15,444 shares during the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

First Internet Bancorp Stock Down 1.2 %

Shares of First Internet Bancorp stock opened at $41.24 on Friday. The stock has a market capitalization of $357.47 million, a P/E ratio of 16.24 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a 50 day moving average price of $37.52 and a two-hundred day moving average price of $33.88. First Internet Bancorp has a 12-month low of $21.96 and a 12-month high of $43.26.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%. The business had revenue of $87.02 million during the quarter, compared to the consensus estimate of $32.50 million. During the same period in the prior year, the company posted $0.39 earnings per share. Equities analysts expect that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.06 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.58%. First Internet Bancorp’s dividend payout ratio is 9.45%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on First Internet Bancorp from $41.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently 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.