1492 Capital Management LLC bought a new position in First Internet Bancorp (NASDAQ:INBK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,948 shares of the bank’s stock, valued at approximately $608,000.
Other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new stake in shares of First Internet Bancorp in the 3rd quarter worth about $134,000. The Manufacturers Life Insurance Company boosted its stake in First Internet Bancorp by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,144 shares of the bank’s stock worth $144,000 after purchasing an additional 159 shares in the last quarter. SG Americas Securities LLC bought a new position in First Internet Bancorp in the 3rd quarter worth about $167,000. FineMark National Bank & Trust bought a new position in First Internet Bancorp in the 4th quarter worth about $210,000. Finally, Rhumbline Advisers bought a new position in First Internet Bancorp in the 3rd quarter worth about $215,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.
First Internet Bancorp (INBK) opened at $39.00 on Tuesday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market cap of $328.03, a PE ratio of 20.00 and a beta of -0.02. First Internet Bancorp has a one year low of $25.48 and a one year high of $42.40.
A number of equities analysts recently issued reports on the stock. BidaskClub upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. Zacks Investment Research cut shares of First Internet Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 28th. ValuEngine upgraded shares of First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet cut shares of First Internet Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. Finally, FIG Partners cut shares of First Internet Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. First Internet Bancorp currently has a consensus rating of “Buy” and an average target price of $44.25.
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First Internet Bancorp Profile
First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet.
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