Bedel Financial Consulting Inc. purchased a new stake in shares of First Internet Bancorp (NASDAQ:INBK) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 11,300 shares of the bank’s stock, valued at approximately $431,000.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of First Internet Bancorp by 3,143.3% during the 2nd quarter. Citigroup Inc. now owns 4,119 shares of the bank’s stock valued at $115,000 after acquiring an additional 3,992 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of First Internet Bancorp during the 3rd quarter valued at approximately $134,000. Strs Ohio lifted its position in shares of First Internet Bancorp by 96.0% during the 3rd quarter. Strs Ohio now owns 4,900 shares of the bank’s stock valued at $158,000 after acquiring an additional 2,400 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of First Internet Bancorp by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock valued at $144,000 after acquiring an additional 159 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of First Internet Bancorp during the 3rd quarter valued at approximately $167,000. Institutional investors own 63.73% of the company’s stock.

First Internet Bancorp (NASDAQ INBK) opened at $36.10 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.01. First Internet Bancorp has a 12 month low of $25.48 and a 12 month high of $42.40. The firm has a market cap of $303.64, a P/E ratio of 16.71 and a beta of -0.03.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. First Internet Bancorp had a net margin of 15.99% and a return on equity of 9.45%. The business had revenue of $17.90 million during the quarter, compared to analysts’ expectations of $19.00 million. research analysts predict that First Internet Bancorp will post 3.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, December 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 11.11%.

A number of research firms have recently issued reports on INBK. BidaskClub upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet cut shares of First Internet Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. FIG Partners cut shares of First Internet Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Maxim Group reissued a “buy” rating and set a $46.00 price objective on shares of First Internet Bancorp in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. First Internet Bancorp currently has an average rating of “Buy” and a consensus price target of $44.25.

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First Internet Bancorp Company Profile

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

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

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