Wells Fargo & Company MN Boosts Holdings in First Internet Bancorp (INBK)

Wells Fargo & Company MN grew its holdings in First Internet Bancorp (NASDAQ:INBK) by 94.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,310 shares of the bank’s stock after acquiring an additional 3,549 shares during the period. Wells Fargo & Company MN’s holdings in First Internet Bancorp were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Zweig DiMenna Associates LLC acquired a new position in shares of First Internet Bancorp in the third quarter worth $1,131,000. Vanguard Group Inc. grew its stake in shares of First Internet Bancorp by 1.1% in the second quarter. Vanguard Group Inc. now owns 255,203 shares of the bank’s stock worth $7,158,000 after acquiring an additional 2,760 shares in the last quarter. Trexquant Investment LP grew its stake in shares of First Internet Bancorp by 111.6% in the third quarter. Trexquant Investment LP now owns 15,407 shares of the bank’s stock worth $498,000 after acquiring an additional 8,126 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of First Internet Bancorp in the third quarter worth $317,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of First Internet Bancorp in the third quarter worth $6,137,000. Institutional investors and hedge funds own 63.73% of the company’s stock.

First Internet Bancorp (NASDAQ:INBK) opened at $36.90 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.01. The company has a market cap of $304.90, a price-to-earnings ratio of 15.23 and a beta of -0.04. First Internet Bancorp has a 12 month low of $25.48 and a 12 month high of $42.40.

First Internet Bancorp (NASDAQ:INBK) last issued its earnings results on Friday, January 19th. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $17.90 million during the quarter, compared to the consensus estimate of $19.00 million. First Internet Bancorp had a net margin of 15.99% and a return on equity of 9.45%. analysts expect that First Internet Bancorp will post 3.26 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. First Internet Bancorp’s payout ratio is currently 11.11%.

Several equities analysts have commented on the stock. TheStreet downgraded shares of First Internet Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. ValuEngine upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Maxim Group reiterated a “buy” rating and set a $46.00 target price on shares of First Internet Bancorp in a research note on Friday, January 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. First Internet Bancorp currently has a consensus rating of “Buy” and a consensus price target of $44.25.

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About First Internet Bancorp

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.

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Institutional Ownership by Quarter for First Internet Bancorp (NASDAQ:INBK)

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