Foundry Partners LLC Sells 1,190 Shares of First Internet Bancorp (NASDAQ:INBK)

Foundry Partners LLC reduced its position in shares of First Internet Bancorp (NASDAQ:INBK) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,105 shares of the bank’s stock after selling 1,190 shares during the quarter. Foundry Partners LLC owned 0.72% of First Internet Bancorp worth $1,502,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INBK. Barclays PLC lifted its position in shares of First Internet Bancorp by 151.7% during the 2nd quarter. Barclays PLC now owns 10,799 shares of the bank’s stock valued at $160,000 after buying an additional 6,508 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of First Internet Bancorp by 27.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,018 shares of the bank’s stock valued at $195,000 after buying an additional 2,592 shares in the last quarter. Citigroup Inc. lifted its position in shares of First Internet Bancorp by 101,984.6% during the 3rd quarter. Citigroup Inc. now owns 26,542 shares of the bank’s stock valued at $430,000 after buying an additional 26,516 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of First Internet Bancorp by 44.4% during the 3rd quarter. Quadrature Capital Ltd now owns 35,502 shares of the bank’s stock valued at $569,000 after buying an additional 10,916 shares in the last quarter. Finally, Denali Advisors LLC lifted its position in shares of First Internet Bancorp by 98.0% during the 3rd quarter. Denali Advisors LLC now owns 40,000 shares of the bank’s stock valued at $648,000 after buying an additional 19,800 shares in the last quarter. 65.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INBK has been the topic of a number of analyst reports. StockNews.com raised First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods lifted their price objective on First Internet Bancorp from $29.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

First Internet Bancorp Stock Down 0.3 %

NASDAQ INBK opened at $32.07 on Tuesday. The stock’s 50 day moving average is $32.27 and its 200 day moving average is $25.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. First Internet Bancorp has a 12 month low of $9.68 and a 12 month high of $35.72. The stock has a market cap of $277.73 million, a PE ratio of 27.41 and a beta of 0.72.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.24. First Internet Bancorp had a return on equity of 4.56% and a net margin of 3.81%. The company had revenue of $27.21 million for the quarter, compared to analysts’ expectations of $24.50 million. Research analysts predict that First Internet Bancorp will post 3.01 EPS for the current fiscal year.

First Internet Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.75%. First Internet Bancorp’s dividend payout ratio is presently 20.51%.

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