Walleye Capital LLC Makes New Investment in First Internet Bancorp $INBK

Walleye Capital LLC bought a new position in First Internet Bancorp (NASDAQ:INBK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,854 shares of the bank’s stock, valued at approximately $774,000. Walleye Capital LLC owned approximately 0.32% of First Internet Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Aegis Financial Corp purchased a new position in shares of First Internet Bancorp in the 4th quarter worth approximately $5,224,000. Patriot Financial Partners GP II L.P. purchased a new stake in First Internet Bancorp during the third quarter valued at approximately $4,696,000. Heartland Advisors Inc. lifted its position in First Internet Bancorp by 33.4% during the first 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. Simcoe Capital LLC purchased a new stake in First Internet Bancorp during the fourth quarter valued at approximately $1,935,000. Finally, CSM Advisors LLC boosted its stake in First Internet Bancorp by 35.9% in the fourth quarter. CSM Advisors LLC now owns 191,854 shares of the bank’s stock valued at $4,005,000 after acquiring an additional 50,695 shares in the last quarter. 65.46% of the stock is owned by hedge funds and other institutional investors.

First Internet Bancorp Stock Down 0.8%

INBK stock opened at $29.06 on Friday. The firm has a 50 day moving average of $27.16 and a 200 day moving average of $23.85. The stock has a market capitalization of $253.69 million, a PE ratio of -8.07 and a beta of 0.83. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $31.09.

First Internet Bancorp (NASDAQ:INBK) last released its 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 company had revenue of $41.12 million for 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. Sell-side analysts forecast that First Internet Bancorp will post 2.36 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

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

Analysts Set New Price Targets

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