American Century Companies Inc. Raises Stock Position in First Internet Bancorp (NASDAQ:INBK)

American Century Companies Inc. increased its position in First Internet Bancorp (NASDAQ:INBK - Free Report) by 19.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,605 shares of the bank's stock after acquiring an additional 19,019 shares during the quarter. American Century Companies Inc. owned about 1.32% of First Internet Bancorp worth $4,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INBK. R Squared Ltd purchased a new position in shares of First Internet Bancorp in the fourth quarter valued at about $33,000. MetLife Investment Management LLC lifted its holdings in First Internet Bancorp by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank's stock worth $162,000 after purchasing an additional 2,669 shares in the last quarter. SG Americas Securities LLC boosted its stake in First Internet Bancorp by 22.5% in the 4th quarter. SG Americas Securities LLC now owns 5,181 shares of the bank's stock worth $186,000 after purchasing an additional 953 shares during the period. XTX Topco Ltd purchased a new stake in First Internet Bancorp during the 3rd quarter valued at approximately $201,000. Finally, Jane Street Group LLC bought a new stake in shares of First Internet Bancorp during the third quarter valued at approximately $203,000. Institutional investors own 65.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INBK shares. Piper Sandler dropped their target price on shares of First Internet Bancorp from $42.50 to $38.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Hovde Group cut their price target on First Internet Bancorp from $44.00 to $39.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. StockNews.com cut shares of First Internet Bancorp from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $40.00 price target (down from $45.00) on shares of First Internet Bancorp in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $40.50.

First Internet Bancorp Stock Down 12.4 %

Shares of NASDAQ:INBK traded down $3.16 on Thursday, reaching $22.32. The company had a trading volume of 90,697 shares, compared to its average volume of 44,396. First Internet Bancorp has a 52-week low of $21.80 and a 52-week high of $43.26. The firm's 50 day simple moving average is $28.61 and its 200-day simple moving average is $33.96. The firm has a market capitalization of $194.12 million, a PE ratio of 7.72 and a beta of 0.52. 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 - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts' consensus estimates 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, analysts expect that First Internet Bancorp will post 4.11 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, March 31st. First Internet Bancorp's payout ratio is 8.30%.

First Internet Bancorp 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, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.