First Internet Bancorp (NASDAQ:INBK) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in First Internet Bancorp (NASDAQ:INBK) by 71.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,403 shares of the bank’s stock after acquiring an additional 9,714 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in First Internet Bancorp were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in First Internet Bancorp by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,505 shares of the bank’s stock worth $846,000 after acquiring an additional 841 shares in the last quarter. R Squared Ltd acquired a new stake in First Internet Bancorp in the fourth quarter worth about $33,000. SG Americas Securities LLC boosted its holdings in First Internet Bancorp by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 5,181 shares of the bank’s stock worth $186,000 after acquiring an additional 953 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of First Internet Bancorp by 129.1% during the third quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock worth $162,000 after purchasing an additional 2,669 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of First Internet Bancorp by 3.1% during the third quarter. Franklin Resources Inc. now owns 99,620 shares of the bank’s stock worth $3,539,000 after purchasing an additional 2,981 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.

First Internet Bancorp Stock Down 0.9 %

Shares of INBK stock opened at $27.56 on Friday. The stock has a 50 day moving average of $31.32 and a 200 day moving average of $34.97. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market cap of $239.69 million, a P/E ratio of 9.54 and a beta of 0.72. First Internet Bancorp has a twelve month low of $24.18 and a twelve month high of $43.26.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.51). First Internet Bancorp had a net margin of 7.45% and a return on equity of 5.86%. As a group, sell-side analysts expect that First Internet Bancorp will post 4.11 EPS for the current year.

First Internet Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. First Internet Bancorp’s dividend payout ratio is currently 8.30%.

Analyst Ratings Changes

A number of equities research analysts recently commented on INBK shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 target price (down previously from $45.00) on shares of First Internet Bancorp in a report on Friday, January 24th. StockNews.com raised First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Piper Sandler decreased their target price on First Internet Bancorp from $42.50 to $38.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, First Internet Bancorp has an average rating of “Moderate Buy” and a consensus price target of $41.75.

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