Macquarie Group Ltd. decreased its position in shares of First Internet Bancorp (NASDAQ:INBK) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,331 shares of the bank’s stock after selling 3,475 shares during the quarter. Macquarie Group Ltd.’s holdings in First Internet Bancorp were worth $242,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of INBK. Tieton Capital Management LLC bought a new stake in First Internet Bancorp during the fourth quarter worth about $4,310,000. Allianz Asset Management GmbH bought a new stake in First Internet Bancorp during the fourth quarter worth about $3,365,000. BlackRock Inc. lifted its position in First Internet Bancorp by 24.8% during the fourth quarter. BlackRock Inc. now owns 394,138 shares of the bank’s stock worth $15,035,000 after purchasing an additional 78,431 shares during the period. Dimensional Fund Advisors LP lifted its position in First Internet Bancorp by 66.9% during the third quarter. Dimensional Fund Advisors LP now owns 77,363 shares of the bank’s stock worth $2,499,000 after purchasing an additional 31,015 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in First Internet Bancorp during the fourth quarter worth about $1,013,000. 68.79% of the stock is owned by institutional investors and hedge funds.
INBK stock opened at $36.15 on Monday. The stock has a market capitalization of $312.05 and a PE ratio of 15.13. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.04 and a quick ratio of 1.02. First Internet Bancorp has a 12 month low of $25.48 and a 12 month high of $42.40.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.66%. First Internet Bancorp’s dividend payout ratio (DPR) is currently 10.04%.
A number of research analysts have recently commented on the stock. FIG Partners cut shares of First Internet Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. ValuEngine cut shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Zacks Investment Research raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Friday, January 12th. Maxim Group reissued a “buy” rating and issued a $46.00 target price on shares of First Internet Bancorp in a report on Friday, January 19th. Finally, BidaskClub raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.25.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2018/04/16/first-internet-bancorp-inbk-position-trimmed-by-macquarie-group-ltd.html.
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.
Want to see what other hedge funds are holding INBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Internet Bancorp (NASDAQ:INBK).
Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.