Brandywine Global Investment Management LLC Sells 16,095 Shares of First Internet Bancorp (NASDAQ:INBK)

Brandywine Global Investment Management LLC lessened its position in shares of First Internet Bancorp (NASDAQ:INBK) by 7.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 196,155 shares of the bank’s stock after selling 16,095 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in First Internet Bancorp were worth $6,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INBK. Acuitas Investments LLC grew its holdings in shares of First Internet Bancorp by 2,998.0% during the second quarter. Acuitas Investments LLC now owns 3,688,355 shares of the bank’s stock worth $119,000 after buying an additional 3,569,299 shares in the last quarter. Ibex Investors LLC bought a new position in shares of First Internet Bancorp in the 2nd quarter valued at $21,875,000. Connors Investor Services Inc. acquired a new stake in shares of First Internet Bancorp during the 2nd quarter valued at $3,421,000. Stifel Financial Corp boosted its holdings in shares of First Internet Bancorp by 115.1% during the 1st quarter. Stifel Financial Corp now owns 93,790 shares of the bank’s stock valued at $3,304,000 after acquiring an additional 50,190 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of First Internet Bancorp by 6.7% during the 1st quarter. BlackRock Inc. now owns 673,986 shares of the bank’s stock valued at $23,744,000 after acquiring an additional 42,577 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

INBK opened at $31.67 on Thursday. The stock has a market cap of $312.08 million, a PE ratio of 7.30 and a beta of 0.81. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.63. First Internet Bancorp has a 52 week low of $16.96 and a 52 week high of $41.55. The business’s fifty day simple moving average is $30.28 and its 200 day simple moving average is $32.11.

First Internet Bancorp (NASDAQ:INBK) last released its earnings results on Tuesday, July 20th. The bank reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.10). First Internet Bancorp had a net margin of 24.52% and a return on equity of 12.63%. The firm had revenue of $30.57 million during the quarter, compared to the consensus estimate of $33.15 million. As a group, equities analysts anticipate that First Internet Bancorp will post 4.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. First Internet Bancorp’s dividend payout ratio is currently 7.59%.

Separately, Zacks Investment Research raised First Internet Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 1st.

First Internet Bancorp Company Profile

First Internet Bancorp engages in the provision of online commercial and retail banking products and services. It offers first-lien residential mortgage loans, consumer loans and credit cards & CRE loans in Indiana and other parts of the midwest in the form of office, retail, industrial, and multifamily loans, with credit tenant lease financing.

See Also: How is a management fee different from a performance fee?

Want to see what other hedge funds are holding INBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Internet Bancorp (NASDAQ:INBK).

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

Receive News & Ratings for First Internet Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Internet Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.