Bailard Inc. Invests $298,000 in First Internet Bancorp (NASDAQ:INBK)

Bailard Inc. bought a new stake in First Internet Bancorp (NASDAQ:INBK) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,283 shares of the bank’s stock, valued at approximately $298,000. Bailard Inc. owned about 0.10% of First Internet Bancorp as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of INBK. R Squared Ltd acquired a new position in shares of First Internet Bancorp during the 4th quarter worth about $33,000. MetLife Investment Management LLC raised its holdings in First Internet Bancorp by 129.1% during the third quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock worth $162,000 after acquiring an additional 2,669 shares in the last quarter. SG Americas Securities LLC boosted its position in First Internet Bancorp by 22.5% during the fourth quarter. SG Americas Securities LLC now owns 5,181 shares of the bank’s stock valued at $186,000 after purchasing an additional 953 shares during the last quarter. XTX Topco Ltd bought a new position in First Internet Bancorp in the third quarter valued at approximately $201,000. Finally, Jane Street Group LLC acquired a new position in shares of First Internet Bancorp during the 3rd quarter worth approximately $203,000. Institutional investors own 65.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price (down from $45.00) on shares of First Internet Bancorp in a research note on Friday, January 24th. Piper Sandler cut their price target on shares of First Internet Bancorp from $42.50 to $38.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.75.

First Internet Bancorp Stock Down 1.6 %

INBK opened at $28.63 on Thursday. The stock’s fifty day simple moving average is $33.18 and its 200 day simple moving average is $35.63. First Internet Bancorp has a 1-year low of $24.18 and a 1-year high of $43.26. The stock has a market cap of $248.16 million, a PE ratio of 9.91 and a beta of 0.72. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.51). First Internet Bancorp had a net margin of 7.45% and a return on equity of 5.86%. As a group, research analysts expect that First Internet Bancorp will post 4.11 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.24 annualized dividend and a yield of 0.84%. First Internet Bancorp’s dividend payout ratio is currently 8.30%.

About First Internet Bancorp

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.