Amalgamated Bank Cuts Stake in Investors Bancorp, Inc. (ISBC)
Amalgamated Bank trimmed its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 13.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,506 shares of the savings and loans company’s stock after selling 4,890 shares during the period. Amalgamated Bank’s holdings in Investors Bancorp were worth $434,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in shares of Investors Bancorp in the second quarter valued at about $521,000. Wells Fargo & Company MN increased its position in Investors Bancorp by 16.8% during the second quarter. Wells Fargo & Company MN now owns 619,272 shares of the savings and loans company’s stock worth $8,274,000 after buying an additional 89,039 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Investors Bancorp by 37.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 16,012 shares of the savings and loans company’s stock worth $214,000 after buying an additional 4,351 shares during the last quarter. Greenwood Capital Associates LLC increased its position in Investors Bancorp by 5.1% during the second quarter. Greenwood Capital Associates LLC now owns 54,167 shares of the savings and loans company’s stock worth $724,000 after buying an additional 2,605 shares during the last quarter. Finally, Seidman Lawrence B acquired a new position in Investors Bancorp during the second quarter worth approximately $574,000. Institutional investors own 74.21% of the company’s stock.
Shares of Investors Bancorp, Inc. (ISBC) opened at 13.62 on Friday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 21.25 and a beta of 0.69. The firm has a 50-day moving average of $13.26 and a 200 day moving average of $13.49. 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 earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $176.38 million during the quarter, compared to the consensus estimate of $179.25 million. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. During the same quarter in the prior year, the company posted $0.15 EPS. Equities research analysts forecast that Investors Bancorp, Inc. will post $0.56 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on ISBC shares. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Stephens set a $16.00 price target on Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $16.00 target price on shares of Investors Bancorp in a research note on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Investors Bancorp has a consensus rating of “Hold” and a consensus price target of $15.08.
In other news, Director Dennis M. Bone sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $13.25, for a total value of $99,375.00. Following the transaction, the director now owns 172,644 shares in the company, valued at $2,287,533. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian D. Dittenhafer sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $13.05, for a total transaction of $293,625.00. Following the completion of the transaction, the director now owns 350,388 shares in the company, valued at approximately $4,572,563.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,000 shares of company stock worth $788,100. Insiders own 2.96% of the company’s stock.
Investors Bancorp 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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