First Internet Bancorp (NASDAQ:INBK) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,089 shares of the bank’s stock after acquiring an additional 11,997 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.56% of First Internet Bancorp worth $1,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INBK. Acuitas Investments LLC grew its holdings in shares of First Internet Bancorp by 2,998.0% during the second quarter. Acuitas Investments LLC now owns 3,688,355 shares of the bank’s stock valued at $119,000 after purchasing an additional 3,569,299 shares during the last quarter. Boston Partners acquired a new stake in First Internet Bancorp in the first quarter worth $2,697,000. Stifel Financial Corp lifted its stake in First Internet Bancorp by 115.1% in the first quarter. Stifel Financial Corp now owns 93,790 shares of the bank’s stock valued at $3,304,000 after buying an additional 50,190 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of First Internet Bancorp by 6.7% during the first quarter. BlackRock Inc. now owns 673,986 shares of the bank’s stock valued at $23,744,000 after acquiring an additional 42,577 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of First Internet Bancorp by 108.2% during the first quarter. Renaissance Technologies LLC now owns 61,000 shares of the bank’s stock worth $2,149,000 after acquiring an additional 31,700 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ INBK opened at $30.24 on Friday. First Internet Bancorp has a 12 month low of $14.05 and a 12 month high of $41.55. The firm has a market capitalization of $297.98 million, a PE ratio of 6.97 and a beta of 0.81. The company’s 50 day simple moving average is $30.21 and its 200 day simple moving average is $32.91. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.01 and a quick ratio of 1.00.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Tuesday, July 20th. The bank reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.10). The firm had revenue of $30.57 million for the quarter, compared to analyst estimates of $33.15 million. First Internet Bancorp had a net margin of 24.52% and a return on equity of 12.63%. Sell-side analysts anticipate that First Internet Bancorp will post 4.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, June 30th. First Internet Bancorp’s dividend payout ratio (DPR) is presently 7.59%.

Separately, Zacks Investment Research lowered shares of First Internet Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 28th.

First Internet Bancorp Company Profile

First Internet Bancorp engages in the provision of online commercial and retail banking products and services. It offers first-lien residential mortgage loans, consumer loans and credit cards & CRE loans in Indiana and other parts of the midwest in the form of office, retail, industrial, and multifamily loans, with credit tenant lease financing.

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

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