First Internet Bancorp (NASDAQ:INBK) Stock Crosses Below 200-Day Moving Average of $29.30

First Internet Bancorp (NASDAQ:INBKGet Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.30 and traded as low as $27.56. First Internet Bancorp shares last traded at $27.66, with a volume of 20,205 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Hovde Group lowered their price objective on shares of First Internet Bancorp from $38.50 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $36.00 price objective (up from $34.00) on shares of First Internet Bancorp in a report on Friday, April 26th. Finally, Piper Sandler dropped their price objective on shares of First Internet Bancorp from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.75.

View Our Latest Research Report on First Internet Bancorp

First Internet Bancorp Trading Down 2.6 %

The company has a market cap of $239.54 million, a price-to-earnings ratio of 14.56 and a beta of 0.70. The business has a fifty day simple moving average of $31.22 and a 200 day simple moving average of $29.30. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.85.

First Internet Bancorp (NASDAQ:INBKGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.60 million. First Internet Bancorp had a return on equity of 4.64% and a net margin of 5.84%. On average, equities analysts anticipate that First Internet Bancorp will post 3.1 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.06 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.87%. First Internet Bancorp’s dividend payout ratio is currently 12.63%.

Institutional Trading of First Internet Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of INBK. Public Employees Retirement System of Ohio increased its stake in shares of First Internet Bancorp by 27.5% in the third quarter. Public Employees Retirement System of Ohio now owns 12,018 shares of the bank’s stock valued at $195,000 after purchasing an additional 2,592 shares during the period. Brandywine Global Investment Management LLC boosted its stake in 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. Patriot Financial Partners GP LP raised its stake in shares of First Internet Bancorp by 1.9% in the 3rd quarter. Patriot Financial Partners GP LP now owns 155,482 shares of the bank’s stock worth $2,520,000 after buying an additional 2,958 shares in the last quarter. Barclays PLC boosted its stake in First Internet Bancorp by 42.1% during 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 in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in First Internet Bancorp by 44.4% in the 3rd quarter. Quadrature Capital Ltd now owns 35,502 shares of the bank’s stock valued at $569,000 after acquiring an additional 10,916 shares during the last quarter. 65.46% of the stock is owned by institutional investors.

About First Internet Bancorp

(Get Free Report)

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.

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