Bank of Montreal Can grew its stake in shares of First Internet Bancorp (NASDAQ:INBK) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,468 shares of the bank’s stock after buying an additional 468 shares during the quarter. Bank of Montreal Can owned 0.07% of First Internet Bancorp worth $125,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. ClariVest Asset Management LLC raised its position in shares of First Internet Bancorp by 1.2% during the 1st quarter. ClariVest Asset Management LLC now owns 24,700 shares of the bank’s stock valued at $729,000 after buying an additional 300 shares in the last quarter. Bank of America Corp DE raised its position in shares of First Internet Bancorp by 11.7% during the 1st quarter. Bank of America Corp DE now owns 3,477 shares of the bank’s stock valued at $103,000 after buying an additional 363 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of First Internet Bancorp by 6.5% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 38,870 shares of the bank’s stock valued at $1,145,000 after buying an additional 2,370 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First Internet Bancorp by 7.8% during the 1st quarter. Geode Capital Management LLC now owns 44,844 shares of the bank’s stock valued at $1,322,000 after buying an additional 3,229 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of First Internet Bancorp by 18.1% during the 1st quarter. Bank of New York Mellon Corp now owns 27,233 shares of the bank’s stock valued at $804,000 after buying an additional 4,182 shares in the last quarter. Hedge funds and other institutional investors own 58.13% of the company’s stock.

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First Internet Bancorp (NASDAQ INBK) traded down 1.13% during mid-day trading on Friday, hitting $30.50. 28,030 shares of the stock traded hands. The company’s 50 day moving average is $31.11 and its 200 day moving average is $29.24. The company has a market cap of $198.65 million, a P/E ratio of 13.73 and a beta of -0.06. First Internet Bancorp has a 12 month low of $22.54 and a 12 month high of $33.35.

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

Several research firms have recently weighed in on INBK. Keefe, Bruyette & Woods restated a “buy” rating and set a $36.00 price objective on shares of First Internet Bancorp in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of First Internet Bancorp from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, July 25th.

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.

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

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