JBF Capital Inc. Raises Holdings in First Internet Bancorp (NASDAQ:INBK)

JBF Capital Inc. raised its position in shares of First Internet Bancorp (NASDAQ:INBK) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,130 shares of the bank’s stock after acquiring an additional 8,130 shares during the period. First Internet Bancorp makes up 0.5% of JBF Capital Inc.’s portfolio, making the stock its 11th biggest position. JBF Capital Inc. owned about 1.29% of First Internet Bancorp worth $4,125,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bedel Financial Consulting Inc. purchased a new stake in shares of First Internet Bancorp in the fourth quarter worth about $431,000. Victory Capital Management Inc. boosted its position in shares of First Internet Bancorp by 7.5% in the fourth quarter. Victory Capital Management Inc. now owns 35,518 shares of the bank’s stock worth $1,355,000 after buying an additional 2,468 shares during the period. FineMark National Bank & Trust purchased a new stake in shares of First Internet Bancorp in the fourth quarter worth about $210,000. Schwab Charles Investment Management Inc. boosted its position in shares of First Internet Bancorp by 93.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 15,267 shares of the bank’s stock worth $583,000 after buying an additional 7,367 shares during the period. Finally, Thomson Horstmann & Bryant Inc. lifted its stake in shares of First Internet Bancorp by 2.8% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 265,923 shares of the bank’s stock worth $10,144,000 after acquiring an additional 7,221 shares in the last quarter. 66.80% of the stock is owned by hedge funds and other institutional investors.

Shares of First Internet Bancorp (NASDAQ INBK) traded up $0.10 during mid-day trading on Monday, reaching $37.30. The company had a trading volume of 21,600 shares, compared to its average volume of 33,418. First Internet Bancorp has a 1-year low of $25.48 and a 1-year high of $42.40. The company has a market cap of $313.73, a price-to-earnings ratio of 17.27 and a beta of -0.04. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.01 and a quick ratio of 0.99.

First Internet Bancorp (NASDAQ:INBK) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. First Internet Bancorp had a return on equity of 9.45% and a net margin of 15.99%. The business had revenue of $17.90 million during the quarter, compared to analyst estimates of $19.00 million. sell-side analysts forecast that First Internet Bancorp will post 3.26 EPS for the current fiscal year.

Several research firms recently commented on INBK. BidaskClub upgraded First Internet Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded First Internet Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet cut First Internet Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, January 24th. FIG Partners cut First Internet Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Maxim Group restated a “buy” rating and set a $46.00 price objective on shares of First Internet Bancorp in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Internet Bancorp currently has an average rating of “Buy” and an average price target of $44.25.

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First Internet Bancorp 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.

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

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