Nationwide Fund Advisors Lowers Holdings in Investors Bancorp, Inc. (ISBC)
Nationwide Fund Advisors lessened its position in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 22.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,126 shares of the savings and loans company’s stock after selling 72,118 shares during the period. Nationwide Fund Advisors owned approximately 0.08% of Investors Bancorp worth $3,302,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Gotham Asset Management LLC purchased a new stake in Investors Bancorp during the first quarter valued at about $163,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Investors Bancorp by 6.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 739 shares during the period. US Bancorp DE grew its position in Investors Bancorp by 4.1% during the first quarter. US Bancorp DE now owns 13,703 shares of the savings and loans company’s stock valued at $198,000 after acquiring an additional 546 shares during the period. Fox Run Management L.L.C. purchased a new stake in Investors Bancorp during the second quarter valued at about $194,000. Finally, CHICAGO TRUST Co NA grew its position in Investors Bancorp by 25.2% during the second quarter. CHICAGO TRUST Co NA now owns 15,132 shares of the savings and loans company’s stock valued at $202,000 after acquiring an additional 3,045 shares during the period. 74.21% of the stock is owned by hedge funds and other institutional investors.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total transaction of $68,100.00. Following the transaction, the director now directly owns 157,188 shares of the company’s stock, valued at $2,140,900.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian D. Dittenhafer sold 22,500 shares of the stock in a transaction 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 transaction, the director now directly owns 350,388 shares in the company, valued at $4,572,563.40. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $788,100 over the last three months. Company insiders own 2.96% of the company’s stock.
A number of equities research analysts have issued reports on ISBC shares. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Piper Jaffray Companies reissued a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a research report on Thursday, August 3rd. Stephens set a $16.00 price target on Investors Bancorp and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $16.00 price target on shares of Investors Bancorp in a research report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $15.08.
Shares of Investors Bancorp, Inc. (ISBC) opened at 13.69 on Wednesday. The firm’s 50-day moving average price is $13.30 and its 200-day moving average price is $13.48. Investors Bancorp, Inc. has a 52-week low of $11.58 and a 52-week high of $15.11. The stock has a market cap of $4.05 billion, a P/E ratio of 21.36 and a beta of 0.69.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The business had revenue of $176.38 million for the quarter, compared to analyst estimates of $179.25 million. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities research analysts forecast that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.
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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