First Internet Bancorp (INBK) Upgraded to “Hold” at BidaskClub
BidaskClub upgraded shares of First Internet Bancorp (NASDAQ:INBK) from a sell rating to a hold rating in a report issued on Wednesday morning.
A number of other brokerages have also recently weighed in on INBK. FIG Partners cut First Internet Bancorp from an outperform rating to a market perform rating in a research report on Monday, January 22nd. ValuEngine cut First Internet Bancorp from a buy rating to a hold rating in a research report on Saturday, January 13th. Zacks Investment Research upgraded First Internet Bancorp from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Friday, January 12th. Maxim Group reiterated a buy rating and issued a $46.00 price target on shares of First Internet Bancorp in a research report on Friday, January 19th. Finally, TheStreet cut First Internet Bancorp from a b rating to a c+ rating in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $44.25.
Shares of First Internet Bancorp (NASDAQ:INBK) opened at $36.45 on Wednesday. First Internet Bancorp has a 1 year low of $25.48 and a 1 year high of $42.40. The firm has a market capitalization of $309.56, a price-to-earnings ratio of 16.88 and a beta of -0.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.01 and a quick ratio of 0.99.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, December 28th. First Internet Bancorp’s dividend payout ratio is currently 11.11%.
A number of institutional investors have recently bought and sold shares of INBK. Citigroup Inc. boosted its stake in First Internet Bancorp by 3,143.3% in the second quarter. Citigroup Inc. now owns 4,119 shares of the bank’s stock worth $115,000 after purchasing an additional 3,992 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in First Internet Bancorp in the third quarter worth $134,000. The Manufacturers Life Insurance Company boosted its stake in First Internet Bancorp by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock worth $144,000 after purchasing an additional 159 shares in the last quarter. Strs Ohio boosted its stake in First Internet Bancorp by 96.0% in the third quarter. Strs Ohio now owns 4,900 shares of the bank’s stock worth $158,000 after purchasing an additional 2,400 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in First Internet Bancorp in the third quarter worth $167,000. 63.73% of the stock is currently owned by institutional investors.
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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.
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