First Internet Bancorp (NASDAQ:INBK) Stock Position Reduced by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lessened its position in shares of First Internet Bancorp (NASDAQ:INBK) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,960 shares of the bank’s stock after selling 16,483 shares during the period. Stieven Capital Advisors L.P. owned about 0.91% of First Internet Bancorp worth $2,705,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in First Internet Bancorp by 9.4% during the 2nd 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. Ancora Advisors LLC lifted its holdings in First Internet Bancorp by 7.0% during the 1st quarter. Ancora Advisors LLC now owns 216,712 shares of the bank’s stock worth $7,529,000 after buying an additional 14,190 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in First Internet Bancorp by 50.9% during the 2nd 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. Foundry Partners LLC lifted its holdings in First Internet Bancorp by 15.0% during the 2nd quarter. Foundry Partners LLC now owns 111,850 shares of the bank’s stock worth $3,022,000 after buying an additional 14,605 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in First Internet Bancorp by 3.4% during the 2nd quarter. American Century Companies Inc. now owns 86,239 shares of the bank’s stock worth $2,330,000 after buying an additional 2,857 shares during the last quarter. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Stock Down 0.8 %

INBK opened at $40.24 on Friday. First Internet Bancorp has a 12 month low of $17.50 and a 12 month high of $42.89. 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 cap of $348.88 million, a P/E ratio of 15.84 and a beta of 0.66. The stock’s 50 day moving average price is $35.61 and its 200 day moving average price is $33.00.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.80 EPS 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 analyst estimates of $32.50 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, research analysts predict that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s dividend payout ratio is currently 9.45%.

Wall Street Analyst Weigh In

A number of research analysts have commented on INBK shares. Piper Sandler increased their target price on First Internet Bancorp from $30.00 to $40.50 and gave the stock a “neutral” rating in a report on Monday, July 29th. Craig Hallum increased their price target on First Internet Bancorp from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on First Internet Bancorp from $36.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Hovde Group increased their price target on First Internet Bancorp from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.88.

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.