Sapient Capital LLC Buys New Holdings in First Internet Bancorp (NASDAQ:INBK)

Sapient Capital LLC acquired a new stake in shares of First Internet Bancorp (NASDAQ:INBK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 127,910 shares of the bank's stock, valued at approximately $3,094,000. Sapient Capital LLC owned approximately 1.48% of First Internet Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INBK. Wellington Management Group LLP acquired a new position in First Internet Bancorp during the 1st quarter valued at about $4,203,000. GSA Capital Partners LLP purchased a new stake in shares of First Internet Bancorp during the third quarter worth about $1,031,000. Walleye Capital LLC acquired a new position in shares of First Internet Bancorp during the second quarter valued at about $879,000. Ancora Advisors LLC increased its holdings in shares of First Internet Bancorp by 41.7% during the third quarter. Ancora Advisors LLC now owns 152,509 shares of the bank's stock valued at $2,472,000 after acquiring an additional 44,895 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of First Internet Bancorp by 20.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 247,625 shares of the bank's stock valued at $4,123,000 after purchasing an additional 42,560 shares during the last quarter. Hedge funds and other institutional investors own 65.46% of the company's stock.

First Internet Bancorp Stock Performance

NASDAQ INBK traded down $0.06 on Friday, hitting $31.44. 123,387 shares of the company's stock traded hands, compared to its average volume of 52,118. The firm's 50-day moving average price is $32.23 and its two-hundred day moving average price is $25.00. The firm has a market capitalization of $272.30 million, a PE ratio of 26.87 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. First Internet Bancorp has a 1-year low of $9.68 and a 1-year high of $35.72.

First Internet Bancorp (NASDAQ:INBK - Get Free Report) last posted its earnings results on Wednesday, January 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.24. First Internet Bancorp had a net margin of 3.81% and a return on equity of 4.56%. The company had revenue of $27.21 million during the quarter, compared to the consensus estimate of $24.50 million. As a group, analysts expect that First Internet Bancorp will post 3.01 EPS for the current year.

First Internet Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. First Internet Bancorp's payout ratio is 20.51%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INBK. Craig Hallum raised shares of First Internet Bancorp from a "hold" rating to a "buy" rating and boosted their target price for the stock from $19.00 to $35.00 in a research report on Monday, December 18th. Keefe, Bruyette & Woods upped their target price on First Internet Bancorp from $29.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 26th. Finally, StockNews.com raised 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 one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $29.00.

First Internet Bancorp 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.