Teton Advisors Inc. maintained its position in shares of First Internet Bancorp (NASDAQ:INBK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,000 shares of the bank’s stock at the end of the second quarter. Teton Advisors Inc. owned about 0.49% of First Internet Bancorp worth $898,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. ClariVest Asset Management LLC boosted its position in shares of First Internet Bancorp by 1.2% in the first quarter. ClariVest Asset Management LLC now owns 24,700 shares of the bank’s stock worth $729,000 after buying an additional 300 shares during the period. Bank of America Corp DE boosted its position in shares of First Internet Bancorp by 11.7% in the first quarter. Bank of America Corp DE now owns 3,477 shares of the bank’s stock worth $103,000 after buying an additional 363 shares during the period. Bank of Montreal Can boosted its position in shares of First Internet Bancorp by 11.7% in the second quarter. Bank of Montreal Can now owns 4,468 shares of the bank’s stock worth $125,000 after buying an additional 468 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of First Internet Bancorp by 6.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 38,870 shares of the bank’s stock worth $1,145,000 after buying an additional 2,370 shares during the period. Finally, Acrospire Investment Management LLC boosted its position in shares of First Internet Bancorp by 109.7% in the first quarter. Acrospire Investment Management LLC now owns 5,751 shares of the bank’s stock worth $170,000 after buying an additional 3,008 shares during the period. Institutional investors own 57.09% of the company’s stock.

First Internet Bancorp (NASDAQ INBK) opened at 30.90 on Monday. The stock has a 50 day moving average price of $29.93 and a 200 day moving average price of $29.19. The stock has a market cap of $201.25 million, a PE ratio of 13.91 and a beta of -0.07. First Internet Bancorp has a 52 week low of $22.54 and a 52 week high of $33.15.

First Internet Bancorp (NASDAQ:INBK) last posted its earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. First Internet Bancorp had a return on equity of 8.91% and a net margin of 16.58%. The business had revenue of $15.71 million during the quarter, compared to analyst estimates of $15 million. On average, equities analysts predict that First Internet Bancorp will post $2.41 earnings per share for the current year.

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A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $36.00 target price on shares of First Internet Bancorp in a report on Thursday, July 27th. Zacks Investment Research upgraded First Internet Bancorp from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Finally, Maxim Group restated a “buy” rating and set a $37.00 target price on shares of First Internet Bancorp in a report on Monday, April 24th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.88.

In related news, Director John K. Keach, Jr. bought 1,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was acquired at an average price of $26.39 per share, for a total transaction of $26,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.60% of the stock is currently owned by company insiders.

First Internet Bancorp Company 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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