First Internet Bancorp – Fixed- (NASDAQ:INBKZ) Sees Large Decline in Short Interest

by · The Cerbat Gem

First Internet Bancorp – Fixed- (NASDAQ:INBKZ – Get Free Report) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 2,080 shares, a drop of 55.7% from the July 15th total of 4,691 shares. Based on an average daily volume of 1,505 shares, the days-to-cover ratio is currently 1.4 days.

First Internet Bancorp – Fixed- Stock Performance

INBKZ traded down $0.28 during trading on Friday, hitting $25.24. The stock had a trading volume of 4,192 shares, compared to its average volume of 2,507. The company’s 50-day moving average price is $25.19 and its 200 day moving average price is $24.85. First Internet Bancorp – Fixed- has a twelve month low of $23.48 and a twelve month high of $25.64.

First Internet Bancorp – Fixed- Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Saturday, August 15th will be paid a dividend of $0.5067 per share. This represents a $2.03 dividend on an annualized basis and a dividend yield of 8.0%. This is a positive change from First Internet Bancorp – Fixed-‘s previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 14th.

First Internet Bancorp – Fixed- Company Profile

(Get Free Report)

First Internet Bancorp is a bank holding company whose primary subsidiary, First Internet Bank of Indiana, operates as a fully digital, branchless bank. Founded in 1999 and headquartered in Fishers, Indiana, the company was among the first to deliver comprehensive banking services exclusively online. It is traded on the NASDAQ under the symbol INBKZ.

The company offers a broad range of deposit products, including interest-bearing checking and savings accounts, money market accounts, certificates of deposit, and individual retirement accounts.

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