Stieven Capital Advisors adds First Internet Bancorp (INBK) to its portfolio

First Internet Bancorp (INBK) : Stieven Capital Advisors added new position in First Internet Bancorp during the most recent quarter end. The investment management firm now holds 423,300 shares of First Internet Bancorp which is valued at $9,752,832 , the company said in a statement filed on Aug 11, 2016 with the SEC.First Internet Bancorp makes up approximately 2.57% of Stieven Capital Advisors’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management added INBK to its portfolio by purchasing 17,025 company shares during the most recent quarter which is valued at $392,256.Acrospire Investment Management reduced its stake in INBK by selling 10,114 shares or 82.09% in the most recent quarter. The Hedge Fund company now holds 2,206 shares of INBK which is valued at $51,775. First Internet Bancorp makes up approx 0.04% of Acrospire Investment Management’s portfolio.Kessler Investment Group reduced its stake in INBK by selling 3,469 shares or 9.03% in the most recent quarter. The Hedge Fund company now holds 34,942 shares of INBK which is valued at $871,453. First Internet Bancorp makes up approx 1.20% of Kessler Investment Group’s portfolio.Foundry Partners boosted its stake in INBK in the latest quarter, The investment management firm added 3,061 additional shares and now holds a total of 82,734 shares of First Internet Bancorp which is valued at $2,043,530. First Internet Bancorp makes up approx 0.19% of Foundry Partners’s portfolio.

First Internet Bancorp opened for trading at $23.16 and hit $23.5 on the upside on Tuesday, eventually ending the session at $23.23, with a gain of 0.30% or 0.07 points. The heightened volatility saw the trading volume jump to 18,333 shares. Company has a market cap of $129 M.

Many Wall Street Analysts have commented on First Internet Bancorp. Shares were Reiterated by Maxim Group on Jul 25, 2016 to “Buy” and Lowered the Price Target to $ 33 from a previous price target of $37 .

First Internet Bancorp is a bank holding company that conducts its business activities through its wholly owned subsidiary First Internet Bank of Indiana an Indiana chartered bank (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 asset-based lending and business banking/treasury management services to meet the needs of commercial borrowers and depositors. At December 31 2014 CRE and C&I loans comprised 48.3% of loans receivable. The Bank’s wholly owned subsidiary JKH Realty Services LLC manage real estate owned properties. As of December 31 2014 the Bank’s total deposits were $758.6 million.

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