First Internet Bancorp (INBK) was Reiterated by Maxim Group to “Buy” while Lowering the Price Target of the company shares to $ 33 from a previous price target of $37 . Maxim Group advised their investors in a research report released on Jul 25, 2016.
First Internet Bancorp closed down -0.33 points or -1.31% at $24.94 with 29,468 shares getting traded on Wednesday. Post opening the session at $25.27, the shares hit an intraday low of $24.6 and an intraday high of $25.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 1, 2016, David B Becker (CEO) purchased 5,000 shares at $25.73 per share price. According to the SEC, on Feb 2, 2015, Jerry L. Williams (director) purchased 1,000 shares at $15.88 per share price. On Jan 29, 2015, Ralph R Jr Whitney (director) purchased 1,000 shares at $16.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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.