First Internet Bancorp (NASDAQ:INBK) Given "Market Perform" Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of First Internet Bancorp (NASDAQ:INBK - Free Report) in a report published on Friday, Benzinga reports. They currently have a $36.00 price target on the bank's stock, up from their previous price target of $34.00.

INBK has been the subject of several other reports. Hovde Group lowered their price target on shares of First Internet Bancorp from $38.50 to $38.00 and set an outperform rating for the company in a report on Friday. StockNews.com upgraded First Internet Bancorp from a sell rating to a hold rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $31.75.

First Internet Bancorp Price Performance

NASDAQ:INBK traded up $0.34 during trading hours on Friday, hitting $31.05. The company's stock had a trading volume of 69,916 shares, compared to its average volume of 54,517. First Internet Bancorp has a twelve month low of $9.68 and a twelve month high of $35.72. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day simple moving average of $32.23 and a 200-day simple moving average of $26.15. The company has a market capitalization of $268.92 million, a P/E ratio of 16.34 and a beta of 0.72.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its earnings results on Wednesday, January 24th. The bank reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.24. The firm had revenue of $27.21 million during the quarter, compared to analysts' expectations of $24.50 million. First Internet Bancorp had a net margin of 5.84% and a return on equity of 4.68%. On average, analysts anticipate that First Internet Bancorp will post 3.01 EPS for the current fiscal year.

First Internet Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. First Internet Bancorp's dividend payout ratio (DPR) is presently 12.63%.

Institutional Trading of First Internet Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Patriot Financial Partners GP LP boosted its position in First Internet Bancorp by 1.9% during the third quarter. Patriot Financial Partners GP LP now owns 155,482 shares of the bank's stock valued at $2,520,000 after acquiring an additional 2,958 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of First Internet Bancorp by 1.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 154,435 shares of the bank's stock valued at $2,503,000 after purchasing an additional 2,900 shares in the last quarter. Ancora Advisors LLC grew its stake in First Internet Bancorp by 41.7% during the third quarter. Ancora Advisors LLC now owns 152,509 shares of the bank's stock worth $2,472,000 after purchasing an additional 44,895 shares during the period. Sapient Capital LLC bought a new stake in First Internet Bancorp in the fourth quarter worth approximately $3,495,000. Finally, Acuitas Investments LLC acquired a new position in First Internet Bancorp in the fourth quarter valued at approximately $1,940,000. Institutional investors and hedge funds own 65.46% of the company's stock.

First Internet Bancorp Company 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, Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.