GSA Capital Partners LLP Decreases Holdings in First Internet Bancorp (NASDAQ:INBK)

GSA Capital Partners LLP lowered its stake in First Internet Bancorp (NASDAQ:INBK - Free Report) by 57.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,254 shares of the bank's stock after selling 21,556 shares during the quarter. GSA Capital Partners LLP owned about 0.19% of First Internet Bancorp worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC increased its stake in First Internet Bancorp by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 24,278 shares of the bank's stock worth $832,000 after acquiring an additional 311 shares during the last quarter. SG Americas Securities LLC purchased a new position in First Internet Bancorp during the 3rd quarter valued at $145,000. Thrivent Financial for Lutherans boosted its holdings in First Internet Bancorp by 189.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,576 shares of the bank's stock valued at $637,000 after acquiring an additional 15,444 shares during the period. Renaissance Technologies LLC boosted its holdings in First Internet Bancorp by 219.0% during the 2nd quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank's stock valued at $681,000 after acquiring an additional 17,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in First Internet Bancorp by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank's stock valued at $13,230,000 after acquiring an additional 42,227 shares during the period. Institutional investors own 65.46% of the company's stock.

First Internet Bancorp Trading Down 2.3 %

First Internet Bancorp stock traded down $0.93 during mid-day trading on Wednesday, hitting $39.50. The company's stock had a trading volume of 27,022 shares, compared to its average volume of 50,861. The firm has a market capitalization of $342.39 million, a PE ratio of 15.92 and a beta of 0.66. First Internet Bancorp has a 1 year low of $17.82 and a 1 year high of $42.89. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock's fifty day moving average is $35.87 and its two-hundred day moving average is $33.13.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%. The business had revenue of $87.02 million during the quarter, compared to analyst estimates of $32.50 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, analysts anticipate that First Internet Bancorp will post 3.07 EPS for the current year.

First Internet Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp's dividend payout ratio (DPR) is currently 9.45%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INBK shares. Keefe, Bruyette & Woods boosted their price target on First Internet Bancorp from $36.00 to $42.00 and gave the stock a "market perform" rating in a research report on Friday, July 26th. Hovde Group upped their target price on First Internet Bancorp from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Craig Hallum increased their target price on First Internet Bancorp from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, Piper Sandler increased their price target on First Internet Bancorp from $30.00 to $40.50 and gave the company a "neutral" rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.88.

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.