First Internet Bancorp (NASDAQ:INBK) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

First Internet Bancorp (NASDAQ:INBK)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They currently have a $40.00 price objective on the bank’s stock, down from their prior price objective of $45.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 20.16% from the stock’s current price.

First Internet Bancorp Stock Down 5.6 %

INBK stock opened at $33.29 on Friday. The firm’s 50-day moving average is $38.21 and its two-hundred day moving average is $36.02. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $288.62 million, a price-to-earnings ratio of 11.52 and a beta of 0.73. First Internet Bancorp has a 52 week low of $24.18 and a 52 week high of $43.26.

First Internet Bancorp (NASDAQ:INBK) last released its earnings results on Wednesday, January 22nd. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.51). First Internet Bancorp had a return on equity of 5.86% and a net margin of 7.45%. On average, analysts forecast that First Internet Bancorp will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Internet Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new stake in shares of First Internet Bancorp in the 4th quarter worth approximately $33,000. SG Americas Securities LLC bought a new position in shares of First Internet Bancorp in the third quarter valued at $145,000. MetLife Investment Management LLC lifted its position in shares of First Internet Bancorp by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 4,737 shares of the bank’s stock valued at $162,000 after acquiring an additional 2,669 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of First Internet Bancorp during the 3rd quarter worth $201,000. Finally, Jane Street Group LLC acquired a new position in shares of First Internet Bancorp in the 3rd quarter worth $203,000. 65.46% of the stock is owned by institutional investors and hedge funds.

About First Internet Bancorp

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit.