ClariVest Asset Management LLC Boosts Stake in First Internet Bancorp (NASDAQ:INBK)

ClariVest Asset Management LLC grew its holdings in shares of First Internet Bancorp (NASDAQ:INBK) by 77.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,600 shares of the bank’s stock after buying an additional 19,000 shares during the quarter. ClariVest Asset Management LLC owned 0.52% of First Internet Bancorp worth $1,408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signia Capital Management LLC grew its holdings in shares of First Internet Bancorp by 4.3% during the second quarter. Signia Capital Management LLC now owns 125,340 shares of the bank’s stock valued at $3,516,000 after buying an additional 5,213 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of First Internet Bancorp by 23.5% during the first quarter. Vanguard Group Inc. now owns 252,443 shares of the bank’s stock valued at $7,447,000 after purchasing an additional 48,053 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of First Internet Bancorp during the third quarter valued at about $1,131,000. Stifel Financial Corp lifted its position in shares of First Internet Bancorp by 2.1% during the second quarter. Stifel Financial Corp now owns 143,471 shares of the bank’s stock valued at $4,022,000 after purchasing an additional 2,945 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of First Internet Bancorp during the second quarter valued at about $204,000. Hedge funds and other institutional investors own 63.87% of the company’s stock.

In related news, Chairman David B. Becker acquired 5,000 shares of the stock in a transaction on Wednesday, September 20th. The shares were acquired at an average price of $30.02 per share, with a total value of $150,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry L. Williams acquired 2,100 shares of the stock in a transaction on Wednesday, September 20th. The stock was bought at an average cost of $30.05 per share, for a total transaction of $63,105.00. Following the transaction, the director now owns 35,836 shares of the company’s stock, valued at approximately $1,076,871.80. The disclosure for this purchase can be found here. Insiders own 7.60% of the company’s stock.

Shares of First Internet Bancorp (NASDAQ:INBK) traded down $0.40 during mid-day trading on Thursday, reaching $38.95. 26,145 shares of the company’s stock traded hands, compared to its average volume of 36,342. The company has a market capitalization of $338.13 and a price-to-earnings ratio of 16.82. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.82. First Internet Bancorp has a twelve month low of $25.48 and a twelve month high of $41.20.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings data on Friday, October 20th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $17.33 million for the quarter, compared to analyst estimates of $16.90 million. First Internet Bancorp had a net margin of 17.60% and a return on equity of 8.87%. analysts expect that First Internet Bancorp will post 2.36 earnings per share for the current year.

A number of research firms recently weighed in on INBK. Hovde Group raised their price target on shares of First Internet Bancorp from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered shares of First Internet Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. Maxim Group raised their price target on shares of First Internet Bancorp from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. TheStreet raised shares of First Internet Bancorp from a “c+” rating to a “b” rating in a research report on Thursday, November 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $44.00 price target on shares of First Internet Bancorp in a research report on Friday, October 20th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. First Internet Bancorp has an average rating of “Buy” and a consensus price target of $43.75.

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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.

Institutional Ownership by Quarter for First Internet Bancorp (NASDAQ:INBK)

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