Walleye Capital LLC Purchases Shares of 27,854 First Internet Bancorp $INBK

Walleye Capital LLC acquired a new stake in First Internet Bancorp (NASDAQ:INBK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,854 shares of the bank’s stock, valued at approximately $774,000.

Several other institutional investors have also recently modified their holdings of INBK. Versant Capital Management Inc lifted its holdings in shares of First Internet Bancorp by 7.3% during the second quarter. Versant Capital Management Inc now owns 5,533 shares of the bank’s stock worth $154,000 after purchasing an additional 376 shares during the period. Bridgeway Capital Management LLC boosted its position in First Internet Bancorp by 1.3% in the third quarter. Bridgeway Capital Management LLC now owns 44,217 shares of the bank’s stock valued at $992,000 after buying an additional 584 shares during the last quarter. GSA Capital Partners LLP increased its holdings in First Internet Bancorp by 1.5% in the 4th quarter. GSA Capital Partners LLP now owns 48,200 shares of the bank’s stock worth $1,006,000 after buying an additional 691 shares during the period. Public Employees Retirement System of Ohio increased its holdings in First Internet Bancorp by 19.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,024 shares of the bank’s stock worth $126,000 after buying an additional 1,000 shares during the period. Finally, Empowered Funds LLC increased its holdings in First Internet Bancorp by 7.1% in the 4th quarter. Empowered Funds LLC now owns 15,329 shares of the bank’s stock worth $320,000 after buying an additional 1,012 shares during the period. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

First Internet Bancorp Stock Down 0.8%

First Internet Bancorp stock opened at $29.06 on Friday. The firm has a market cap of $253.69 million, a price-to-earnings ratio of -8.07 and a beta of 0.83. First Internet Bancorp has a 52 week low of $17.05 and a 52 week high of $31.09. The business’s 50-day moving average price is $27.16 and its 200 day moving average price is $23.85. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. First Internet Bancorp had a negative return on equity of 0.55% and a negative net margin of 9.01%.The company had revenue of $41.12 million during the quarter, compared to analysts’ expectations of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, sell-side analysts anticipate that First Internet Bancorp will post 2.36 earnings per share for the current year.

First Internet Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.8%. First Internet Bancorp’s dividend payout ratio (DPR) is presently -6.67%.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Benchmark raised their target price on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $29.38.

About First Internet Bancorp

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).