Dimensional Fund Advisors LP lifted its stake in shares of First Internet Bancorp (NASDAQ:INBK) by 31.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,541 shares of the bank’s stock after buying an additional 82,678 shares during the quarter. Dimensional Fund Advisors LP owned about 3.36% of First Internet Bancorp worth $10,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its holdings in First Internet Bancorp by 48.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,138 shares of the bank’s stock worth $158,000 after acquiring an additional 2,000 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in First Internet Bancorp during the 3rd quarter worth about $274,000. Prudential Financial Inc. lifted its stake in shares of First Internet Bancorp by 73.4% in the 3rd quarter. Prudential Financial Inc. now owns 13,539 shares of the bank’s stock valued at $413,000 after purchasing an additional 5,733 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in First Internet Bancorp by 16.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 17,767 shares of the bank’s stock worth $606,000 after acquiring an additional 2,500 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in First Internet Bancorp by 30.5% during the 3rd quarter. First Trust Advisors LP now owns 29,421 shares of the bank’s stock worth $896,000 after buying an additional 6,868 shares during the last quarter. Hedge funds and other institutional investors own 71.29% of the company’s stock.
In other First Internet Bancorp news, Director Jerry L. Williams purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were acquired at an average price of $25.10 per share, with a total value of $100,400.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 6.20% of the stock is owned by corporate insiders.
Shares of First Internet Bancorp stock traded up $0.35 during trading on Monday, hitting $19.90. The stock had a trading volume of 46,900 shares, compared to its average volume of 52,011. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.60. The firm has a market cap of $202.99 million, a price-to-earnings ratio of 7.96 and a beta of 0.54. First Internet Bancorp has a fifty-two week low of $18.78 and a fifty-two week high of $39.70.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, December 28th. First Internet Bancorp’s payout ratio is 9.60%.
A number of research analysts have recently commented on the company. ValuEngine lowered First Internet Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, October 22nd. Maxim Group restated a “buy” rating and set a $30.00 target price (down from $38.00) on shares of First Internet Bancorp in a research note on Friday, October 26th. Zacks Investment Research lowered shares of First Internet Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Finally, FIG Partners cut shares of First Internet Bancorp from an “outperform” rating to a “market perform” rating in a report on Friday, January 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.60.
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First Internet Bancorp Company Profile
First Internet Bancorp operates as a bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers savings accounts, non-interest bearing and interest-bearing demand deposits, money market accounts, brokered deposit accounts, and certificates of deposit.
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