BidaskClub lowered shares of First Internet Bancorp (NASDAQ:INBK) from a hold rating to a sell rating in a research note published on Tuesday, May 8th.
A number of other equities research analysts also recently issued reports on INBK. TheStreet downgraded First Internet Bancorp from a b rating to a c+ rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reaffirmed a buy rating on shares of First Internet Bancorp in a report on Friday, April 20th. ValuEngine downgraded First Internet Bancorp from a buy rating to a hold rating in a report on Thursday, May 3rd. Zacks Investment Research downgraded First Internet Bancorp from a buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Maxim Group reaffirmed a buy rating on shares of First Internet Bancorp in a report on Friday, April 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $44.00.
Shares of NASDAQ INBK traded up $0.10 during trading hours on Tuesday, reaching $34.15. 10 shares of the stock were exchanged, compared to its average volume of 29,978. The firm has a market cap of $283.53 million, a P/E ratio of 14.25 and a beta of 0.03. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 2.00. First Internet Bancorp has a 52 week low of $33.20 and a 52 week high of $33.30.
Large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new position in First Internet Bancorp during the 4th quarter worth $153,000. FineMark National Bank & Trust bought a new position in First Internet Bancorp during the 4th quarter worth $210,000. Wells Fargo & Company MN raised its position in First Internet Bancorp by 94.4% during the 3rd quarter. Wells Fargo & Company MN now owns 7,310 shares of the bank’s stock worth $236,000 after purchasing an additional 3,549 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in First Internet Bancorp during the 4th quarter worth $239,000. Finally, Prudential Financial Inc. bought a new position in First Internet Bancorp during the 1st quarter worth $282,000. 69.64% of the stock is owned by institutional investors and hedge funds.
About First Internet Bancorp
First Internet Bancorp operates as a bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services in the United States. The company offers savings accounts, non-interest bearing and interest-bearing demand deposits, money market accounts, brokered deposit accounts, and certificates of deposit.
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