First Internet Bancorp (NASDAQ:INBK) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC decreased its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 7.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,250 shares of the bank’s stock after selling 1,001 shares during the quarter. Donaldson Capital Management LLC’s holdings in First Internet Bancorp were worth $296,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Sapient Capital LLC acquired a new stake in First Internet Bancorp in the fourth quarter valued at about $3,094,000. GSA Capital Partners LLP acquired a new position in shares of First Internet Bancorp during the 3rd quarter worth approximately $1,031,000. Patriot Financial Partners GP LP grew its stake in First Internet Bancorp by 1.9% in the 3rd quarter. Patriot Financial Partners GP LP now owns 155,482 shares of the bank’s stock worth $2,520,000 after acquiring an additional 2,958 shares during the period. Citigroup Inc. grew its stake in First Internet Bancorp by 101,984.6% in the 3rd quarter. Citigroup Inc. now owns 26,542 shares of the bank’s stock worth $430,000 after acquiring an additional 26,516 shares during the period. Finally, Denali Advisors LLC grew its stake in shares of First Internet Bancorp by 98.0% during the 3rd quarter. Denali Advisors LLC now owns 40,000 shares of the bank’s stock valued at $648,000 after buying an additional 19,800 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First Internet Bancorp from $29.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 26th. StockNews.com raised shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Craig Hallum upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $35.00 in a research report on Monday, December 18th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.00.

First Internet Bancorp Price Performance

Shares of First Internet Bancorp stock traded down $0.16 on Tuesday, hitting $30.90. The company had a trading volume of 6,260 shares, compared to its average volume of 51,963. The business has a 50-day simple moving average of $32.28 and a 200-day simple moving average of $25.33. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $267.59 million, a PE ratio of 26.55 and a beta of 0.72. First Internet Bancorp has a 52 week low of $9.68 and a 52 week high of $35.72.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.24. First Internet Bancorp had a net margin of 3.81% and a return on equity of 4.56%. The business had revenue of $27.21 million during the quarter, compared to analysts’ expectations of $24.50 million. Research analysts expect that First Internet Bancorp will post 3.01 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Wednesday, March 27th. First Internet Bancorp’s dividend payout ratio is presently 20.51%.

First Internet Bancorp Company Profile

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, Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.