Stifel Financial Corp reduced its stake in shares of First Internet Bancorp (NASDAQ:INBK) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,012 shares of the bank’s stock after selling 13,651 shares during the quarter. Stifel Financial Corp’s holdings in First Internet Bancorp were worth $4,883,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new stake in First Internet Bancorp during the 4th quarter worth approximately $153,000. Goldman Sachs Group Inc. purchased a new stake in First Internet Bancorp during the 4th quarter worth approximately $239,000. Prudential Financial Inc. purchased a new stake in First Internet Bancorp during the 1st quarter worth approximately $282,000. Wells Fargo & Company MN increased its holdings in First Internet Bancorp by 57.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,540 shares of the bank’s stock worth $440,000 after purchasing an additional 4,230 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in First Internet Bancorp by 24.5% during the 4th quarter. California State Teachers Retirement System now owns 12,564 shares of the bank’s stock worth $479,000 after purchasing an additional 2,475 shares during the last quarter. Institutional investors own 68.13% of the company’s stock.
Shares of First Internet Bancorp opened at $34.05 on Friday, according to Marketbeat. First Internet Bancorp has a twelve month low of $26.30 and a twelve month high of $42.40. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $355.85 million and a PE ratio of 13.14.
First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings results on Thursday, April 19th. The bank reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. First Internet Bancorp had a return on equity of 9.73% and a net margin of 17.67%. The business had revenue of $17.96 million during the quarter, compared to the consensus estimate of $18.40 million. equities analysts forecast that First Internet Bancorp will post 2.87 EPS for the current year.
Several research firms have issued reports on INBK. Zacks Investment Research downgraded First Internet Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 28th. BidaskClub upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Sandler O’Neill restated a “buy” rating and set a $43.00 price objective on shares of First Internet Bancorp in a report on Friday, April 20th. Craig Hallum began coverage on First Internet Bancorp in a report on Monday, May 21st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, ValuEngine upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.00.
About First Internet Bancorp
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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