First Internet Bancorp (NASDAQ:INBK) Closed Well Above Its 50 Day Moving Average


It is trading at $37.05 which is well above the 50 day moving average of $32.54 and significantly above the 200 day moving average of $29.79. The 50 day moving average was up $4.51 or +13.85% whereas the 200 day average was up by +24.38%. (NASDAQ:INBK) shares saw light trading volume with 4,152 shares changing hands in the last trading session. Trading volume was down 84.24% under the stocks average daily volume.

Investors are feeling more bullish on shares of First Internet Bancorp lately as implied by the change in short interest. The firm recorded a fall in short interest of -21.80% between September 15, 2017 and September 29, 2017. Short interest fell from 87,704 to 68,582 over that timeframe. Days to cover decreased from 1.0 to 1.0 and the percentage of shorted shares is 0.01% as of September 29.

These firms have modified their investment in INBK. Stanley-laman Group, Ltd. cut its ownership by selling 472 shares a decrease of 2.7% as of 06/30/2017. Stanley-laman Group, Ltd. currently owns 17,142 shares with a value of $481,000. The value of the position overall is down by 7.5%. As of quarter end Fj Capital Management LLC had acquired 100 shares growing its stake by 0.3%. The value of the total investment in First Internet Bancorp decreased from $931,000 to $888,000 decreasing 4.6% quarter over quarter.

Meeder Asset Management Inc added to its holdings by buying 391 shares an increase of 566.7%. Meeder Asset Management Inc now holds 460 shares worth $15,000. The total value of its holdings increased 650.0%. As of the end of the quarter Bank Of Montreal /can/ had sold a total of 343 shares trimming its position 17.2%. The value of the investment in (INBK) went from $56,000 to $54,000 a change of $2,000 for the reporting period.

The company is trading up by 0.14%% since yesterday’s close of 37. First Internet Bancorp recently announced a dividend which was paid on Monday the 16th of October 2017. The dividend was $0.060 per share for the quarter which comes to $0.24 on an annualized basis. This dividend amount was represent a yield of $0.70. The ex-dividend date was set for Thursday the 28th of September 2017.

The company currently has a P/E ratio of 16.68 and market cap is 241.31M. In the last earnings report the EPS was $2.22 and is estimated to be $2.36 for the current year with 6,513,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.64 and the next full year EPS is anticipated to be $3.02.

First Internet Bancorp, launched on September 15, 2005, 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. The Company also offers commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking/treasury management services. The Bank provides commercial and retail banking services, with operations conducted on the Internet at The Bank’s subsidiary, JKH Realty Services, LLC, manages real estate owned properties..