Erste Internet Bancorp (NASDAQ:INBK) received a consensus ‘Hold’ rating from analysts.

First Internet Bancorp (NASDAQ:INBK – Get Rating) shares have received a consensus rating of “Hold” from the six research firms currently covering the company, MarketBeat reports. Five equity analysts have given the stock a hold rating. The average 12-month price target among brokers who have covered the stock over the past year is $32.50.

A number of research companies have recently commented on INBK. TheStreet lowered First Internet Bancorp from a “b-” rating to a “c” rating in a report on Wednesday, November 30th. began reporting on First Internet Bancorp in a report Thursday. They gave the stock a “hold” rating.

Insider activity at First Internet Bancorp

In other news from First Internet Bancorp, Director Ann C. Dee acquired 1,000 shares of the company in a transaction on Thursday, February 23. The shares were purchased at an average price of $27.43 per share for a total value of $27,430.00. Following the purchase, the director now owns 2,850 shares of the company, valued at $78,175.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this link. Company insiders own 7.20% of the company’s shares.

Hedge funds invest in First Internet Bancorp

Several institutional investors and hedge funds have recently bought and sold shares in INBK. Fiduciary Trust Co. increased its stake in First Internet Bancorp by 41.6% in the third quarter. Fiduciary Trust Co. now owns 127,466 shares of the bank, valued at $4,316,000, after purchasing an additional 37,427 shares last quarter. Trexquant Investment LP acquired a new interest in shares of First Internet Bancorp valued at approximately $401,000 during the second quarter. Summit Global Investments increased its holding in shares of First Internet Bancorp by 66.0% in the second quarter. Summit Global Investments now owns 8,300 shares of the bank, valued at $306,000, having acquired an additional 3,300 shares during this period. Strs Ohio increased its ownership of First Internet Bancorp shares by 4.9% in the third quarter. Strs Ohio now owns 17,100 shares of the bank, valued at $579,000, having purchased an additional 800 shares during this period. Finally, Foundry Partners LLC increased its stake in First Internet Bancorp stock by 1.6% during the third quarter. Foundry Partners LLC now owns 64,830 shares of the bank, valued at $2,195,000, having purchased an additional 1,030 shares during the period. Institutional investors and hedge funds own 70.72% of the company’s shares.

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Internet Bancorp’s first price history

INBK stock opened at $19.04 on Friday. The company has a gearing ratio of 1.97, a current ratio of 1.09 and a quick ratio of 1.08. The company has a 50-day simple moving average of $25.45 and a 200-day simple moving average of $27.48. The company has a market cap of $170.41 million, a P/E of 5.15 and a beta of 0.54. First Internet Bancorp has a 1 year low of $17.90 and a 1 year high of $47.17.

First Internet Bancorp (NASDAQ:INBK – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The bank reported earnings per share (EPS) of $0.68 for the quarter, missing analyst consensus estimates of $0.73 ($0.05). The company had revenue of $27.48 million for the quarter, compared to analysts’ expectations of $26.70 million. First Internet Bancorp had a net margin of 19.95% and a return on equity of 10.15%. Equity analysts expect First Internet Bancorp to report earnings per share of 2.25 for the current fiscal year.

Internet Bancorp’s first dividend announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. A dividend of $0.06 per share was paid to investors of record on Friday, December 30th. That equates to a dividend of $0.24 on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday December 29th. First Internet Bancorp’s payout percentage is currently 6.49%.

About First Internet Bancorp (received a review)

First Internet Bancorp is engaged in the provision of online business and retail banking products and services. It provides senior residential mortgage loans, consumer loans, credit card and CRE loans in Indiana and other parts of the Midwest in the form of office, retail, industrial and multi-family loans with credit tenant lease financing.

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