Investors Bancorp, Inc. (NASDAQ:ISBC) Stake Boosted by Legal & General Group Plc
Legal & General Group Plc increased its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,150 shares of the savings and loans company’s stock after buying an additional 6,139 shares during the period. Legal & General Group Plc owned about 0.06% of Investors Bancorp worth $2,561,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of ISBC. World Asset Management Inc boosted its position in shares of Investors Bancorp by 0.7% in the first quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock worth $157,000 after buying an additional 72 shares during the last quarter. TFS Capital LLC acquired a new position in shares of Investors Bancorp during the first quarter worth approximately $164,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Investors Bancorp by 17.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock worth $168,000 after buying an additional 1,735 shares during the last quarter. US Bancorp DE boosted its position in shares of Investors Bancorp by 4.1% in the first quarter. US Bancorp DE now owns 13,703 shares of the savings and loans company’s stock worth $198,000 after buying an additional 546 shares during the last quarter. Finally, CIBC World Markets Inc. acquired a new position in shares of Investors Bancorp during the first quarter worth approximately $226,000. 78.06% of the stock is owned by institutional investors.
Shares of Investors Bancorp, Inc. (ISBC) traded down 0.07% during midday trading on Monday, hitting $13.41. 2,619,956 shares of the stock were exchanged. The stock has a market cap of $3.97 billion, a P/E ratio of 20.92 and a beta of 0.70. Investors Bancorp, Inc. has a 12 month low of $11.10 and a 12 month high of $15.11. The firm has a 50 day moving average of $13.28 and a 200-day moving average of $13.88.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $176.38 million during the quarter, compared to analyst estimates of $179.25 million. Investors Bancorp had a net margin of 20.91% and a return on equity of 5.80%. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts anticipate that Investors Bancorp, Inc. will post $0.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, August 8th. Investors Bancorp’s dividend payout ratio is presently 50.79%.
A number of brokerages recently commented on ISBC. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a research report on Thursday. Stephens set a $16.00 target price on shares of Investors Bancorp and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub cut shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price objective on shares of Investors Bancorp in a research report on Friday, July 7th. Finally, Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Investors Bancorp has a consensus rating of “Hold” and a consensus price target of $15.21.
In related news, VP Paul Kalamaras sold 120,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total transaction of $1,630,800.00. Following the completion of the sale, the vice president now directly owns 725,827 shares of the company’s stock, valued at $9,863,988.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.96% of the stock is owned by company 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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