Stifel Financial Corp raised its holdings in First Internet Bancorp (NASDAQ:INBK) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,996 shares of the bank’s stock after acquiring an additional 6,525 shares during the period. Stifel Financial Corp owned approximately 1.78% of First Internet Bancorp worth $4,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of First Internet Bancorp by 11.7% during the 1st quarter. Bank of America Corp DE now owns 3,477 shares of the bank’s stock valued at $103,000 after buying an additional 363 shares in the last quarter. Citigroup Inc. raised its holdings in shares of First Internet Bancorp by 3,143.3% during the 2nd quarter. Citigroup Inc. now owns 4,119 shares of the bank’s stock valued at $115,000 after buying an additional 3,992 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of First Internet Bancorp by 11.7% during the 2nd quarter. Bank of Montreal Can now owns 4,468 shares of the bank’s stock valued at $125,000 after buying an additional 468 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of First Internet Bancorp by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock valued at $144,000 after buying an additional 159 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of First Internet Bancorp by 96.0% during the 3rd quarter. Strs Ohio now owns 4,900 shares of the bank’s stock valued at $158,000 after buying an additional 2,400 shares in the last quarter. 63.87% of the stock is currently owned by institutional investors.

First Internet Bancorp (INBK) opened at $39.00 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. First Internet Bancorp has a 1-year low of $25.48 and a 1-year high of $41.20. The firm has a market capitalization of $328.03, a PE ratio of 16.11 and a beta of 0.12.

First Internet Bancorp (NASDAQ:INBK) last posted its quarterly earnings results on Friday, October 20th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. First Internet Bancorp had a return on equity of 8.87% and a net margin of 17.60%. The business had revenue of $17.33 million for the quarter, compared to analyst estimates of $16.90 million. research analysts anticipate that First Internet Bancorp will post 2.36 earnings per share for the current year.

In related news, Chairman David B. Becker purchased 5,000 shares of First Internet Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were acquired at an average cost of $30.02 per share, for a total transaction of $150,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jerry L. Williams purchased 2,100 shares of First Internet Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were bought at an average price of $30.05 per share, for a total transaction of $63,105.00. Following the completion of the transaction, the director now owns 35,836 shares in the company, valued at $1,076,871.80. The disclosure for this purchase can be found here. 7.60% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the company. BidaskClub cut First Internet Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research cut First Internet Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Maxim Group raised their price objective on First Internet Bancorp from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Hovde Group raised their price objective on First Internet Bancorp from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $44.00 price objective on shares of First Internet Bancorp in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.75.

ILLEGAL ACTIVITY NOTICE: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The correct version of this article can be read at https://www.watchlistnews.com/first-internet-bancorp-inbk-holdings-increased-by-stifel-financial-corp/1767157.html.

First Internet Bancorp Company Profile

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.

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

Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.