Sapient Capital LLC Invests $3.50 Million in First Internet Bancorp (NASDAQ:INBK)

Sapient Capital LLC purchased a new stake in shares of First Internet Bancorp (NASDAQ:INBK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 144,110 shares of the bank's stock, valued at approximately $3,495,000. Sapient Capital LLC owned approximately 1.67% of First Internet Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in First Internet Bancorp by 27.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,018 shares of the bank's stock valued at $195,000 after buying an additional 2,592 shares during the last quarter. Barclays PLC lifted its holdings in First Internet Bancorp by 42.1% in the third quarter. Barclays PLC now owns 15,342 shares of the bank's stock valued at $249,000 after buying an additional 4,543 shares during the period. Citigroup Inc. boosted its stake in First Internet Bancorp by 101,984.6% in the third quarter. Citigroup Inc. now owns 26,542 shares of the bank's stock valued at $430,000 after acquiring an additional 26,516 shares during the last quarter. Quadrature Capital Ltd grew its holdings in First Internet Bancorp by 44.4% during the 3rd quarter. Quadrature Capital Ltd now owns 35,502 shares of the bank's stock worth $569,000 after acquiring an additional 10,916 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in First Internet Bancorp during the 3rd quarter worth $1,031,000. Institutional investors own 65.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INBK. Hovde Group reduced their price target on First Internet Bancorp from $38.50 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 26th. Piper Sandler reduced their price target on shares of First Internet Bancorp from $35.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 29th. StockNews.com upgraded First Internet Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $36.00 price objective (up from $34.00) on shares of First Internet Bancorp in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, First Internet Bancorp currently has an average rating of "Hold" and an average price target of $35.75.

First Internet Bancorp Stock Up 1.2 %

Shares of First Internet Bancorp stock traded up $0.38 during trading hours on Friday, reaching $32.08. 29,625 shares of the company's stock were exchanged, compared to its average volume of 63,514. First Internet Bancorp has a fifty-two week low of $9.68 and a fifty-two week high of $35.72. The stock has a market cap of $277.81 million, a P/E ratio of 16.88 and a beta of 0.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The company has a 50 day moving average of $32.14 and a two-hundred day moving average of $26.71.

First Internet Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, March 27th. First Internet Bancorp's dividend payout ratio is currently 12.63%.

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.