XTX Topco Ltd Takes Position in First Internet Bancorp (NASDAQ:INBK)

XTX Topco Ltd acquired a new stake in shares of First Internet Bancorp (NASDAQ:INBK) during the third quarter, according to its most recent filing with the SEC. The fund acquired 5,871 shares of the bank’s stock, valued at approximately $201,000. XTX Topco Ltd owned 0.07% of First Internet Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in INBK. Jane Street Group LLC bought a new stake in shares of First Internet Bancorp during the third quarter valued at about $203,000. State Street Corp grew its stake in First Internet Bancorp by 8.9% during the third quarter. State Street Corp now owns 106,282 shares of the bank’s stock valued at $3,648,000 after acquiring an additional 8,701 shares in the last quarter. MetLife Investment Management LLC increased its holdings in First Internet Bancorp by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock worth $162,000 after acquiring an additional 2,669 shares during the period. Foundry Partners LLC lifted its stake in First Internet Bancorp by 8.9% in the 3rd quarter. Foundry Partners LLC now owns 121,827 shares of the bank’s stock worth $4,174,000 after purchasing an additional 9,977 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in First Internet Bancorp in the 3rd quarter valued at $469,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Wall Street Analyst Weigh In

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

First Internet Bancorp Trading Down 1.6 %

Shares of INBK opened at $36.78 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. First Internet Bancorp has a 1-year low of $23.04 and a 1-year high of $43.26. The company has a market capitalization of $318.81 million, a P/E ratio of 14.48 and a beta of 0.70. The firm’s 50 day simple moving average is $38.97 and its 200 day simple moving average is $34.58.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.80 earnings per share (EPS) 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 the consensus estimate 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 prior year, the firm posted $0.39 earnings per share. Sell-side analysts forecast that First Internet Bancorp will post 3.07 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. First Internet Bancorp’s dividend payout ratio 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.