MetLife Investment Management LLC Has $162,000 Holdings in First Internet Bancorp (NASDAQ:INBK)

MetLife Investment Management LLC increased its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 129.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,737 shares of the bank’s stock after acquiring an additional 2,669 shares during the period. MetLife Investment Management LLC’s holdings in First Internet Bancorp were worth $162,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of 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 lifted its position 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 in the last quarter. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 23,376 shares during the last quarter. Renaissance Technologies LLC increased its position in First Internet Bancorp by 219.0% in the 2nd quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank’s stock valued at $681,000 after acquiring an additional 17,300 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of 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 acquiring an additional 15,444 shares during the last quarter. Institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Price Performance

First Internet Bancorp stock opened at $40.94 on Tuesday. The business’s 50-day simple moving average is $37.83 and its 200 day simple moving average is $34.06. 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 market cap of $354.87 million, a price-to-earnings ratio of 16.12 and a beta of 0.70. First Internet Bancorp has a 12-month low of $22.20 and a 12-month high of $43.26.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly 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 return on equity of 6.06% and a net margin of 6.92%. The business had revenue of $87.02 million for the quarter, compared to analyst estimates of $32.50 million. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, research 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s payout ratio is 9.45%.

Wall Street Analysts Forecast Growth

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

First Internet Bancorp 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.