Investors Bancorp Inc. (ISBC) Stake Boosted by Great Lakes Advisors LLC
Great Lakes Advisors LLC raised its position in Investors Bancorp Inc. (NASDAQ:ISBC) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,951 shares of the company’s stock after buying an additional 100,926 shares during the period. Great Lakes Advisors LLC owned approximately 0.15% of Investors Bancorp worth $5,332,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ISBC. Prudential Financial Inc. increased its position in shares of Investors Bancorp by 4.4% in the third quarter. Prudential Financial Inc. now owns 26,071 shares of the company’s stock worth $313,000 after buying an additional 1,100 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Investors Bancorp by 183.6% in the third quarter. JPMorgan Chase & Co. now owns 6,047,390 shares of the company’s stock worth $72,629,000 after buying an additional 3,914,835 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Investors Bancorp by 3.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,992 shares of the company’s stock worth $120,000 after buying an additional 342 shares during the period. Sei Investments Co. raised its stake in shares of Investors Bancorp by 632.1% in the third quarter. Sei Investments Co. now owns 267,143 shares of the company’s stock worth $3,209,000 after buying an additional 230,651 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Investors Bancorp by 30.6% in the third quarter. UBS Asset Management Americas Inc. now owns 1,205,006 shares of the company’s stock worth $14,473,000 after buying an additional 282,148 shares during the period. 78.23% of the stock is currently owned by institutional investors and hedge funds.
Investors Bancorp Inc. (NASDAQ:ISBC) traded down 1.02% during midday trading on Wednesday, reaching $13.54. 3,062,589 shares of the company’s stock traded hands. Investors Bancorp Inc. has a 1-year low of $10.67 and a 1-year high of $14.12. The company has a market capitalization of $4.03 billion, a PE ratio of 23.75 and a beta of 0.66. The firm’s 50 day moving average price is $12.67 and its 200-day moving average price is $11.89.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.15 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. Investors Bancorp had a net margin of 21.68% and a return on equity of 5.51%. The company earned $168.13 million during the quarter, compared to analysts’ expectations of $163.95 million. During the same quarter last year, the company posted $0.14 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Equities analysts expect that Investors Bancorp Inc. will post $0.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 8th. Investors Bancorp’s dividend payout ratio (DPR) is presently 55.17%.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Friday, August 19th.
In other news, insider Kevin Cummings sold 997,499 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $12.11, for a total value of $12,079,712.89. Following the sale, the insider now directly owns 2,749,061 shares in the company, valued at approximately $33,291,128.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian D. Dittenhafer sold 124,529 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $12.27, for a total transaction of $1,527,970.83. Following the completion of the sale, the director now owns 516,086 shares in the company, valued at $6,332,375.22. The disclosure for this sale can be found here. 3.44% of the stock is currently owned by insiders.
Investors Bancorp Company Profile
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.
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