First Internet Bancorp (INBK) Position Trimmed by Macquarie Group Ltd.

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.

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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.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Friday, January 19th. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $17.90 million during the quarter, compared to analysts’ expectations of $19.00 million. First Internet Bancorp had a net margin of 15.99% and a return on equity of 8.91%. analysts anticipate that First Internet Bancorp will post 3.26 EPS for the current year.

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.

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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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Institutional Ownership by Quarter for First Internet Bancorp (NASDAQ:INBK)

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