RDL Financial Inc. Has $1.49 Million Stake in Investors Bancorp, Inc. (ISBC)
RDL Financial Inc. decreased its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,208 shares of the savings and loans company’s stock after selling 19,960 shares during the period. RDL Financial Inc.’s holdings in Investors Bancorp were worth $1,486,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ISBC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Investors Bancorp by 6.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock worth $156,000 after buying an additional 739 shares in the last quarter. 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 in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Investors Bancorp during the first quarter worth approximately $163,000. TFS Capital LLC acquired a new position in shares of Investors Bancorp during the first quarter worth approximately $164,000. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Investors Bancorp, Inc. (ISBC) opened at 13.24 on Friday. The stock has a 50 day moving average of $13.13 and a 200-day moving average of $13.71. The company has a market cap of $3.92 billion, a PE ratio of 20.66 and a beta of 0.70. Investors Bancorp, Inc. has a 1-year low of $11.58 and a 1-year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. The firm had revenue of $176.38 million for the quarter, compared to the consensus estimate of $179.25 million. During the same period last year, the company posted $0.15 EPS. On average, equities research analysts predict that Investors Bancorp, Inc. will post $0.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, August 8th. Investors Bancorp’s dividend payout ratio (DPR) is presently 50.79%.
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A number of brokerages have commented on ISBC. Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. 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. Royal Bank Of Canada restated a “buy” rating and set a $16.00 price target on shares of Investors Bancorp in a research note on Friday, July 7th. BidaskClub cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.21.
In other news, Director Brian D. Dittenhafer sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $13.05, for a total transaction of $293,625.00. Following the completion of the sale, the director now owns 350,388 shares of the company’s stock, valued at approximately $4,572,563.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.96% of the company’s stock.
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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