GSA Capital Partners LLP Takes $1.49 Million Position in First Internet Bancorp $INBK

GSA Capital Partners LLP purchased a new position in shares of First Internet Bancorp (NASDAQ:INBK) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 53,644 shares of the bank’s stock, valued at approximately $1,491,000. GSA Capital Partners LLP owned 0.62% of First Internet Bancorp at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Heartland Advisors Inc. raised its position in First Internet Bancorp by 33.4% during the first quarter. Heartland Advisors Inc. now owns 384,900 shares of the bank’s stock valued at $7,844,000 after purchasing an additional 96,305 shares in the last quarter. Aegis Financial Corp boosted its holdings in shares of First Internet Bancorp by 41.5% in the 1st quarter. Aegis Financial Corp now owns 354,261 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 103,941 shares in the last quarter. Gator Capital Management LLC boosted its holdings in shares of First Internet Bancorp by 62.7% in the 4th quarter. Gator Capital Management LLC now owns 75,555 shares of the bank’s stock valued at $1,577,000 after purchasing an additional 29,122 shares in the last quarter. Simcoe Capital LLC bought a new position in shares of First Internet Bancorp in the 4th quarter valued at $1,935,000. Finally, Walleye Capital LLC bought a new position in shares of First Internet Bancorp in the 2nd quarter valued at $774,000. Institutional investors and hedge funds own 65.46% of the company’s stock.

Analyst Ratings Changes

INBK has been the subject of a number of research analyst reports. Wall Street Zen raised First Internet Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings raised First Internet Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. Piper Sandler lifted their target price on First Internet Bancorp from $26.00 to $29.50 and gave the company a “neutral” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on First Internet Bancorp from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Benchmark increased their target price on shares of First Internet Bancorp from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Internet Bancorp presently has a consensus rating of “Hold” and an average price target of $29.38.

First Internet Bancorp Stock Performance

NASDAQ INBK opened at $29.06 on Monday. The firm’s fifty day moving average price is $27.16 and its two-hundred day moving average price is $23.86. The stock has a market cap of $253.69 million, a PE ratio of -8.07 and a beta of 0.83. First Internet Bancorp has a fifty-two week low of $17.05 and a fifty-two week high of $31.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.88.

First Internet Bancorp (NASDAQ:INBK) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. First Internet Bancorp had a negative net margin of 9.01% and a negative return on equity of 0.55%. The company had revenue of $41.12 million during the quarter, compared to the consensus estimate of $43.83 million. First Internet Bancorp has set its FY 2026 guidance at 2.350-2.450 EPS. On average, equities analysts expect that First Internet Bancorp will post 2.36 EPS for the current fiscal year.

First Internet Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.06 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.24 annualized dividend and a yield of 0.8%. First Internet Bancorp’s dividend payout ratio (DPR) is currently -6.67%.

First Internet Bancorp Company Profile

First Internet Bancorp is the bank holding company for First Internet Bank of Indiana, a pioneer in digital banking in the United States. Established with a focus on online-only operations, the company offers fully integrated, web-based financial solutions without the overhead of physical branches. Headquartered in Indianapolis, Indiana, First Internet Bancorp leverages technology to deliver streamlined banking services to customers across the country.

The company’s core offerings include a range of deposit products such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs) and individual retirement accounts (IRAs).