Kessler Investment Group LLC continued to hold its stake in First Internet Bancorp (NASDAQ:INBK) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,184 shares of the bank’s stock at the end of the second quarter. First Internet Bancorp makes up approximately 0.7% of Kessler Investment Group LLC’s investment portfolio, making the stock its 28th largest position. Kessler Investment Group LLC owned 0.31% of First Internet Bancorp worth $566,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Heartland Advisors Inc. raised its stake in First Internet Bancorp by 12.5% in the first quarter. Heartland Advisors Inc. now owns 225,000 shares of the bank’s stock valued at $6,638,000 after buying an additional 25,000 shares during the period. Bank of New York Mellon Corp raised its stake in First Internet Bancorp by 18.1% in the first 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 during the period. Acrospire Investment Management LLC raised its stake in First Internet Bancorp by 109.7% in the first quarter. Acrospire Investment Management LLC now owns 5,751 shares of the bank’s stock valued at $170,000 after buying an additional 3,008 shares during the period. Stifel Financial Corp raised its stake in First Internet Bancorp by 4.3% in the first quarter. Stifel Financial Corp now owns 140,526 shares of the bank’s stock valued at $4,146,000 after buying an additional 5,733 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in 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 valued at $1,145,000 after buying an additional 2,370 shares during the period. 57.46% of the stock is currently owned by institutional investors.
First Internet Bancorp (INBK) traded down 2.13% during mid-day trading on Thursday, reaching $27.55. 352 shares of the company were exchanged. The stock has a 50 day moving average of $27.72 and a 200-day moving average of $29.12. First Internet Bancorp has a one year low of $22.12 and a one year high of $33.00. The stock has a market capitalization of $178.99 million, a price-to-earnings ratio of 12.70 and a beta of -0.10.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, June 28th. First Internet Bancorp’s dividend payout ratio is currently 10.96%.
COPYRIGHT VIOLATION NOTICE: “Kessler Investment Group LLC Continues to Hold Position in First Internet Bancorp (INBK)” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/07/20/kessler-investment-group-llc-continues-to-hold-position-in-first-internet-bancorp-inbk.html.
Several analysts have recently issued reports on INBK shares. Zacks Investment Research raised shares of First Internet Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Hovde Group started coverage on shares of First Internet Bancorp in a research report on Monday, April 17th. They issued an “outperform” rating and a $32.50 price target on the stock. Maxim Group reissued a “buy” rating and issued a $37.00 price target on shares of First Internet Bancorp in a research report on Monday, April 24th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $36.00 price target on shares of First Internet Bancorp in a research report on Monday, June 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.38.
In other news, Director John K. Keach, Jr. purchased 1,000 shares of the stock in a transaction on Thursday, May 25th. The shares were acquired at an average price of $26.39 per share, with a total value of $26,390.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is owned by 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.
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).
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.
