Acuitas Investments LLC Invests $1.94 Million in First Internet Bancorp (NASDAQ:INBK)

Acuitas Investments LLC bought a new position in First Internet Bancorp (NASDAQ:INBK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 80,192 shares of the bank’s stock, valued at approximately $1,940,000. Acuitas Investments LLC owned 0.93% of First Internet Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Patriot Financial Partners GP LP boosted its holdings in shares of First Internet Bancorp by 1.9% in the 3rd quarter. Patriot Financial Partners GP LP now owns 155,482 shares of the bank’s stock worth $2,520,000 after purchasing an additional 2,958 shares during the period. Brandywine Global Investment Management LLC lifted its stake in shares of First Internet Bancorp by 1.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 154,435 shares of the bank’s stock worth $2,503,000 after acquiring an additional 2,900 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of First Internet Bancorp by 41.7% during the 3rd quarter. Ancora Advisors LLC now owns 152,509 shares of the bank’s stock worth $2,472,000 after acquiring an additional 44,895 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of First Internet Bancorp during the 4th quarter worth approximately $3,094,000. Finally, GSA Capital Partners LLP bought a new stake in shares of First Internet Bancorp during the 3rd quarter worth approximately $1,031,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.

First Internet Bancorp Trading Up 0.2 %

Shares of First Internet Bancorp stock traded up $0.06 during trading hours on Friday, hitting $30.77. The company’s stock had a trading volume of 20,612 shares, compared to its average volume of 53,849. First Internet Bancorp has a twelve month low of $9.68 and a twelve month high of $35.72. The firm has a fifty day moving average of $32.28 and a 200-day moving average of $26.06. The stock has a market cap of $266.47 million, a price-to-earnings ratio of 16.53 and a beta of 0.72. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Wednesday, January 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.24. First Internet Bancorp had a return on equity of 4.68% and a net margin of 5.84%. The firm had revenue of $27.21 million for the quarter, compared to analyst estimates of $24.50 million. Research analysts forecast that First Internet Bancorp will post 3.01 EPS for the current year.

First Internet Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.78%. The ex-dividend date was Wednesday, March 27th. First Internet Bancorp’s payout ratio is 12.63%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on INBK shares. Hovde Group decreased their price target on First Internet Bancorp from $38.50 to $38.00 and set an “outperform” rating for the company in a research note on Friday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $36.00 price target (up from $34.00) on shares of First Internet Bancorp in a research note on Friday. Finally, StockNews.com raised First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.75.

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, Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.