Vanguard Group Inc. reduced its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,355,956 shares of the savings and loans company’s stock after selling 1,068,933 shares during the quarter. Vanguard Group Inc. owned approximately 7.56% of Investors Bancorp worth $298,675,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Citigroup Inc. lifted its position in Investors Bancorp by 45.7% in the second quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock worth $146,000 after purchasing an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 purchasing an additional 739 shares during the period. Gotham Asset Management LLC bought a new position in Investors Bancorp in the first quarter worth $163,000. US Bancorp DE lifted its position in Investors Bancorp by 2.7% in the second quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock worth $189,000 after purchasing an additional 374 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Investors Bancorp in the second quarter worth $194,000. 74.21% of the stock is owned by hedge funds and other institutional investors.

Investors Bancorp, Inc. (NASDAQ:ISBC) opened at 13.69 on Wednesday. The company has a market capitalization of $4.05 billion, a PE ratio of 21.36 and a beta of 0.69. 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 one year low of $11.58 and a one year high of $15.11.

Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $176.38 million for 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 5.79%. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities analysts forecast that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.

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In other news, Director Robert M. Cashill sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total transaction of $327,000.00. Following the completion of the sale, the director now directly owns 756,902 shares in the company, valued at approximately $9,900,278.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total value of $68,100.00. Following the sale, the director now owns 157,188 shares of the company’s stock, valued at $2,140,900.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $788,100. Corporate insiders own 2.96% of the company’s stock.

ISBC has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 target price on shares of Investors Bancorp in a research report on Friday, July 7th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a research report on Thursday, August 3rd. Stephens set a $16.00 target price on Investors Bancorp and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.08.

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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Institutional Ownership by Quarter for Investors Bancorp (NASDAQ:ISBC)

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