Quadrature Capital Ltd Sells 30,312 Shares of First Internet Bancorp (NASDAQ:INBK)

Quadrature Capital Ltd lowered its position in First Internet Bancorp (NASDAQ:INBK) by 74.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,383 shares of the bank’s stock after selling 30,312 shares during the period. Quadrature Capital Ltd owned about 0.12% of First Internet Bancorp worth $355,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of First Internet Bancorp during the 3rd quarter valued at about $469,000. Bank of New York Mellon Corp lifted its stake in shares of First Internet Bancorp by 149.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 38,972 shares of the bank’s stock worth $1,053,000 after purchasing an additional 23,376 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of 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 buying an additional 15,444 shares during the last quarter. Rhumbline Advisers grew its position in First Internet Bancorp by 2,179.6% during the second quarter. Rhumbline Advisers now owns 9,483 shares of the bank’s stock valued at $256,000 after buying an additional 9,067 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 42,227 shares during the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price target on shares of First Internet Bancorp from $41.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.63.

First Internet Bancorp Trading Down 1.6 %

Shares of NASDAQ:INBK opened at $40.94 on Tuesday. The stock has a 50 day moving average of $37.83 and a 200 day moving average of $34.06. The company has a market cap of $354.87 million, a PE ratio of 16.12 and a beta of 0.70. First Internet Bancorp has a 12-month low of $22.20 and a 12-month 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 quarterly earnings data on Wednesday, October 23rd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). First Internet Bancorp had a return on equity of 6.06% and a net margin of 6.92%. The firm had revenue of $87.02 million during the quarter, compared to analysts’ expectations of $32.50 million. During the same period last year, the company earned $0.39 earnings per share. As a group, equities research analysts expect that First Internet Bancorp will post 3.07 EPS for the current year.

First Internet Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, September 30th. First Internet Bancorp’s dividend payout ratio (DPR) is 9.45%.

First Internet Bancorp 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.