Ann C. Dee Purchases 2,000 Shares of First Internet Bancorp (NASDAQ:INBK) Stock

Posted by Defense World Staff on Apr 1st, 2023

First Internet Bancorp (NASDAQ:INBK – Get Rating) Director Ann C. Dee purchased 2,000 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were purchased at an average cost of $17.26 per share, with a total value of $34,520.00. Following the transaction, the director now directly owns 4,850 shares in the company, valued at $83,711. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

First Internet Bancorp Stock Up 0.1 %

Shares of NASDAQ INBK opened at $16.65 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.97. First Internet Bancorp has a 12 month low of $16.35 and a 12 month high of $46.39. The firm has a market capitalization of $148.85 million, a PE ratio of 4.50 and a beta of 0.54. The firm has a fifty day simple moving average of $24.02 and a two-hundred day simple moving average of $26.27.

First Internet Bancorp (NASDAQ:INBK – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The bank reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). First Internet Bancorp had a return on equity of 10.15% and a net margin of 19.95%. The company had revenue of $27.48 million during the quarter, compared to the consensus estimate of $26.70 million. Equities analysts expect that First Internet Bancorp will post 2.25 earnings per share for the current year.

First Internet Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.06 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.24 annualized dividend and a yield of 1.44%. First Internet Bancorp’s dividend payout ratio (DPR) is presently 6.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of First Internet Bancorp in a research report on Thursday, March 16th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in First Internet Bancorp by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 656,922 shares of the bank’s stock worth $15,950,000 after purchasing an additional 3,463 shares in the last quarter. Banc Funds Co. LLC increased its stake in shares of First Internet Bancorp by 1.9% in the 4th quarter. Banc Funds Co. LLC now owns 389,667 shares of the bank’s stock worth $9,461,000 after acquiring an additional 7,200 shares in the last quarter. Heartland Advisors Inc. increased its stake in shares of First Internet Bancorp by 1.6% in the 4th quarter. Heartland Advisors Inc. now owns 356,850 shares of the bank’s stock worth $8,664,000 after acquiring an additional 5,679 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of First Internet Bancorp by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 179,930 shares of the bank’s stock worth $4,368,000 after acquiring an additional 3,463 shares in the last quarter. Finally, Patriot Financial Partners GP LP bought a new position in shares of First Internet Bancorp in the 4th quarter worth about $3,703,000. 70.72% of the stock is currently owned by institutional investors.

About First Internet Bancorp

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First Internet Bancorp engages in the provision of online commercial and retail banking products and services. It offers first-lien residential mortgage loans, consumer loans and credit cards & CRE loans in Indiana and other parts of the midwest in the form of office, retail, industrial, and multifamily loans, with credit tenant lease financing.