First Internet Bancorp (NASDAQ:INBK) COO Nicole S. Lorch bought 1,200 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $13.73 per share, with a total value of $16,476.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NASDAQ:INBK opened at $14.18 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.92. The stock’s fifty day simple moving average is $22.94 and its two-hundred day simple moving average is $23.03. First Internet Bancorp has a 1-year low of $10.47 and a 1-year high of $28.50. The stock has a market cap of $135.01 million, a PE ratio of 5.65 and a beta of 0.63.
First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.15. First Internet Bancorp had a return on equity of 8.48% and a net margin of 15.37%. The business had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $20.50 million. On average, sell-side analysts forecast that First Internet Bancorp will post 2.41 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. Hovde Group raised shares of First Internet Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Tuesday, January 14th. Craig Hallum assumed coverage on shares of First Internet Bancorp in a research note on Monday, December 23rd. They issued a “buy” rating and a $33.00 price target on the stock. ValuEngine upgraded shares of First Internet Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. BidaskClub upgraded shares of First Internet Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 28th. Finally, Piper Sandler increased their target price on shares of First Internet Bancorp from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.
Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of First Internet Bancorp by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 215,400 shares of the bank’s stock valued at $5,107,000 after purchasing an additional 8,600 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in First Internet Bancorp by 4.9% in the 4th quarter. Kennedy Capital Management Inc. now owns 341,179 shares of the bank’s stock worth $8,089,000 after buying an additional 15,869 shares during the last quarter. Geode Capital Management LLC increased its stake in First Internet Bancorp by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 131,967 shares of the bank’s stock worth $3,128,000 after purchasing an additional 2,335 shares during the period. Voss Capital LLC purchased a new position in First Internet Bancorp in the 4th quarter worth approximately $3,739,000. Finally, Ancora Advisors LLC increased its stake in First Internet Bancorp by 5.9% in the 4th quarter. Ancora Advisors LLC now owns 53,148 shares of the bank’s stock worth $1,260,000 after purchasing an additional 2,952 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.
About First Internet Bancorp
First Internet Bancorp operates as a bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers savings and money market accounts, non-interest bearing and interest-bearing demand deposits, brokered deposit accounts, and certificates of deposit.
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