Quantinno Capital Management LP Acquires 20,582 Shares of First Internet Bancorp $INBK

Quantinno Capital Management LP raised its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 14.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 162,421 shares of the bank’s stock after acquiring an additional 20,582 shares during the period. Quantinno Capital Management LP’s holdings in First Internet Bancorp were worth $3,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in INBK. Heartland Advisors Inc. boosted its position in shares of First Internet Bancorp by 33.4% during the 1st quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock valued at $7,844,000 after acquiring an additional 96,305 shares during the last quarter. Aegis Financial Corp increased its position in shares of First Internet Bancorp by 41.5% in the first quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock worth $7,220,000 after purchasing an additional 103,941 shares during the last quarter. Gator Capital Management LLC raised its stake in First Internet Bancorp by 62.7% in the fourth quarter. Gator Capital Management LLC now owns 75,555 shares of the bank’s stock valued at $1,577,000 after purchasing an additional 29,122 shares in the last quarter. Simcoe Capital LLC bought a new stake in First Internet Bancorp during the fourth quarter valued at approximately $1,935,000. Finally, Inscription Capital LLC bought a new stake in First Internet Bancorp during the fourth quarter valued at approximately $229,000. 65.46% of the stock is currently owned by institutional investors.

First Internet Bancorp Price Performance

INBK stock opened at $29.21 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.88. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $31.09. The firm’s fifty day moving average is $26.64 and its 200 day moving average is $23.62. The firm has a market cap of $254.71 million, a P/E ratio of -8.11 and a beta of 0.83.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. The business had revenue of $41.12 million during the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. Research analysts predict that First Internet Bancorp will post 2.36 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. First Internet Bancorp’s payout ratio is -6.67%.

Analyst Ratings Changes

INBK has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of First Internet Bancorp from $26.00 to $29.50 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Benchmark lifted their price objective on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Wall Street Zen raised First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings upgraded First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.38.

First Internet Bancorp Profile

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).