Keefe, Bruyette & Woods Reiterates "Market Perform" Rating for First Internet Bancorp (NASDAQ:INBK)

First Internet Bancorp (NASDAQ:INBK - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday,Benzinga reports. They presently have a $40.00 price objective on the bank's stock, down from their previous price objective of $45.00. Keefe, Bruyette & Woods' price target points to a potential upside of 19.12% from the company's current price.

First Internet Bancorp Stock Up 0.9 %

INBK traded up $0.29 on Friday, hitting $33.58. The company had a trading volume of 51,501 shares, compared to its average volume of 41,360. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market capitalization of $291.14 million, a price-to-earnings ratio of 11.62 and a beta of 0.73. The stock has a fifty day moving average price of $38.21 and a 200-day moving average price of $36.02. First Internet Bancorp has a 12-month low of $24.18 and a 12-month high of $43.26.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its quarterly earnings data 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%. Analysts predict that First Internet Bancorp will post 4.25 EPS for the current fiscal year.

Institutional Investors Weigh In On First Internet Bancorp

Several large investors have recently bought and sold shares of INBK. R Squared Ltd acquired a new stake in shares of First Internet Bancorp in the 4th quarter valued at about $33,000. SG Americas Securities LLC acquired a new stake in shares of First Internet Bancorp in the 3rd quarter valued at about $145,000. MetLife Investment Management LLC lifted its position in First Internet Bancorp by 129.1% during the 3rd 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 during the period. XTX Topco Ltd acquired a new stake in First Internet Bancorp during the 3rd quarter worth approximately $201,000. Finally, Jane Street Group LLC acquired a new stake in First Internet Bancorp during the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 65.46% of the company's stock.

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