First Internet Bancorp (NASDAQ:INBK) Stock Holdings Lessened by Fiduciary Trust Co

Fiduciary Trust Co cut its stake in shares of First Internet Bancorp (NASDAQ:INBK) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,599 shares of the bank’s stock after selling 39,751 shares during the quarter. Fiduciary Trust Co’s holdings in First Internet Bancorp were worth $6,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in shares of First Internet Bancorp by 50.9% during the second quarter. Acadian Asset Management LLC now owns 147,275 shares of the bank’s stock worth $3,978,000 after buying an additional 49,675 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of First Internet Bancorp by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank’s stock valued at $13,230,000 after purchasing an additional 42,227 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of First Internet Bancorp by 149.9% during the second quarter. Bank of New York Mellon Corp now owns 38,972 shares of the bank’s stock valued at $1,053,000 after purchasing an additional 23,376 shares during the period. Renaissance Technologies LLC raised its stake in shares of First Internet Bancorp by 219.0% during the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the bank’s stock valued at $681,000 after purchasing an additional 17,300 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in First Internet Bancorp by 189.9% in the second quarter. Thrivent Financial for Lutherans now owns 23,576 shares of the bank’s stock worth $637,000 after purchasing an additional 15,444 shares during the period. 65.46% of the stock is currently owned by institutional investors and hedge funds.

First Internet Bancorp Stock Up 0.8 %

INBK stock opened at $41.91 on Friday. The firm’s 50-day moving average is $36.81 and its two-hundred day moving average is $33.55. The company has a market capitalization of $363.28 million, a price-to-earnings ratio of 16.50 and a beta of 0.66. First Internet Bancorp has a 52 week low of $19.49 and a 52 week high of $43.26. 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) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $87.02 million for the quarter, compared to the consensus estimate of $32.50 million. First Internet Bancorp had a return on equity of 6.06% and a net margin of 6.92%. During the same period in the previous year, the firm earned $0.39 EPS. On average, analysts forecast that First Internet Bancorp will post 3.07 earnings per share for the current fiscal year.

First Internet Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Monday, September 30th. First Internet Bancorp’s payout ratio is currently 9.45%.

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.