Fiduciary Trust Co Reduces Holdings in First Internet Bancorp (NASDAQ:INBK)

Fiduciary Trust Co lowered its stake in First Internet Bancorp (NASDAQ:INBK) by 17.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 191,599 shares of the bank’s stock after selling 39,751 shares during the quarter. Fiduciary Trust Co owned approximately 2.21% of First Internet Bancorp worth $6,564,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of First Internet Bancorp by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 489,663 shares of the bank’s stock valued at $13,230,000 after acquiring an additional 42,227 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of First Internet Bancorp by 50.9% during the 2nd quarter. Acadian Asset Management LLC now owns 147,275 shares of the bank’s stock worth $3,978,000 after buying an additional 49,675 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of First Internet Bancorp by 8.9% during the 3rd quarter. Foundry Partners LLC now owns 121,827 shares of the bank’s stock worth $4,174,000 after buying an additional 9,977 shares during the last quarter. American Century Companies Inc. boosted its holdings in First Internet Bancorp by 3.4% in the second quarter. American Century Companies Inc. now owns 86,239 shares of the bank’s stock valued at $2,330,000 after acquiring an additional 2,857 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its stake in First Internet Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 50,243 shares of the bank’s stock worth $1,358,000 after acquiring an additional 1,404 shares during the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.

First Internet Bancorp Stock Performance

NASDAQ INBK opened at $41.91 on Friday. The business’s 50-day simple moving average is $36.81 and its 200-day simple moving average is $33.55. The firm has a market capitalization of $363.28 million, a P/E ratio of 16.50 and a beta of 0.66. First Internet Bancorp has a 1-year low of $19.49 and a 1-year high of $43.26. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

First Internet Bancorp (NASDAQ:INBK) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). First Internet Bancorp had a net margin of 6.92% and a return on equity of 6.06%. The company had revenue of $87.02 million during the quarter, compared to analysts’ expectations of $32.50 million. During the same period last year, the business earned $0.39 earnings per share. Equities analysts predict that First Internet Bancorp will post 3.07 EPS for the current year.

First Internet Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, September 30th. First Internet Bancorp’s payout ratio is 9.45%.

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, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.