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

Barclays PLC boosted its holdings in First Internet Bancorp (NASDAQ:INBK) by 20.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,286 shares of the bank’s stock after purchasing an additional 3,447 shares during the quarter. Barclays PLC’s holdings in First Internet Bancorp were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INBK. Acadian Asset Management LLC grew its holdings in shares of First Internet Bancorp by 50.9% during the second quarter. Acadian Asset Management LLC now owns 147,275 shares of the bank’s stock worth $3,978,000 after purchasing an additional 49,675 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Internet Bancorp by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank’s stock valued at $13,230,000 after purchasing an additional 42,227 shares during the period. Bank of New York Mellon Corp grew its stake in First Internet Bancorp by 149.9% during the 2nd 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 position in First Internet Bancorp by 219.0% during 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 period. Finally, Thrivent Financial for Lutherans lifted its stake 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 valued at $637,000 after buying an additional 15,444 shares during the last quarter. 65.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

First Internet Bancorp Stock Performance

NASDAQ INBK opened at $35.99 on Thursday. The firm has a market cap of $311.96 million, a P/E ratio of 14.17 and a beta of 0.70. First Internet Bancorp has a 52-week low of $23.05 and a 52-week high of $43.26. The business’s 50-day moving average price is $39.02 and its 200 day moving average price is $35.20. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

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 analysts’ consensus estimates of $0.81 by ($0.01). The company 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 period in the previous year, the business posted $0.39 earnings per share. On average, equities research analysts expect that First Internet Bancorp will post 3.07 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.06 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. First Internet Bancorp’s dividend payout ratio (DPR) is 9.45%.

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.