First Internet Bancorp $INBK Shares Purchased by Gator Capital Management LLC

Gator Capital Management LLC raised its holdings in First Internet Bancorp (NASDAQ:INBK) by 62.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,555 shares of the bank’s stock after acquiring an additional 29,122 shares during the period. Gator Capital Management LLC owned approximately 0.87% of First Internet Bancorp worth $1,577,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bridgeway Capital Management LLC raised its holdings in First Internet Bancorp by 1.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock valued at $992,000 after acquiring an additional 584 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of First Internet Bancorp by 1.5% during the 4th quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock worth $1,006,000 after buying an additional 691 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of First Internet Bancorp by 7.1% during the 4th quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock worth $320,000 after buying an additional 1,012 shares during the last quarter. Man Group plc increased its holdings in shares of First Internet Bancorp by 5.1% during the 3rd quarter. Man Group plc now owns 21,818 shares of the bank’s stock worth $489,000 after buying an additional 1,053 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Internet Bancorp by 202.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,789 shares of the bank’s stock worth $48,000 after buying an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Piper Sandler increased their price objective on shares of First Internet Bancorp from $23.50 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Zacks Research raised shares of First Internet Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Internet Bancorp in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.67.

First Internet Bancorp Stock Performance

Shares of INBK stock opened at $26.17 on Friday. The stock has a market capitalization of $228.20 million, a PE ratio of -6.80 and a beta of 0.85. The firm has a 50 day moving average of $23.77 and a two-hundred day moving average of $21.84. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $28.51. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data on Thursday, April 30th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.21. The business had revenue of $43.12 million during the quarter, compared to analysts’ expectations of $45.67 million. First Internet Bancorp had a negative net margin of 9.60% and a negative return on equity of 1.14%. On average, research analysts predict that First Internet Bancorp will post 1.98 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. First Internet Bancorp’s payout ratio is -6.23%.

First Internet Bancorp Profile

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).