Trexquant Investment LP Buys New Stake in Investors Bancorp, Inc. (ISBC)
Trexquant Investment LP bought a new position in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,700 shares of the savings and loans company’s stock, valued at approximately $731,000.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Investors Bancorp by 24,033.7% in the first quarter. BlackRock Inc. now owns 19,801,226 shares of the savings and loans company’s stock worth $284,740,000 after buying an additional 19,719,178 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock worth $118,659,000 after buying an additional 3,950,175 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Investors Bancorp during the first quarter worth about $23,904,000. Marshall Wace North America L.P. acquired a new stake in Investors Bancorp during the first quarter worth about $23,904,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in Investors Bancorp during the first quarter worth about $17,378,000. Institutional investors own 78.06% of the company’s stock.
Investors Bancorp, Inc. (ISBC) opened at 13.02 on Friday. Investors Bancorp, Inc. has a 1-year low of $11.11 and a 1-year high of $15.11. The stock has a 50 day moving average of $13.21 and a 200-day moving average of $13.85. The firm has a market capitalization of $3.85 billion, a P/E ratio of 20.31 and a beta of 0.70.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $176.38 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate that Investors Bancorp, Inc. will post $0.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be given a $0.08 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.32 annualized dividend and a yield of 2.46%. Investors Bancorp’s dividend payout ratio is currently 50.79%.
A number of analysts have recently issued reports on ISBC shares. Zacks Investment Research upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Deutsche Bank AG reduced their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a report on Wednesday, May 3rd. BidaskClub lowered Investors Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Investors Bancorp in a report on Friday, July 7th. Finally, Stephens set a $16.00 price target on shares of Investors Bancorp and gave the stock a “buy” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.21.
In related news, VP Paul Kalamaras sold 120,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the sale, the vice president now directly owns 725,827 shares of the company’s stock, valued at approximately $9,863,988.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.96% of the company’s stock.
About Investors Bancorp
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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