Investors Bancorp, Inc. (ISBC) Shares Sold by First Trust Advisors LP
First Trust Advisors LP cut its stake in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,239 shares of the savings and loans company’s stock after selling 149,631 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Investors Bancorp worth $6,059,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. boosted its stake in Investors Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 33,024 shares of the savings and loans company’s stock worth $441,000 after acquiring an additional 85 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Investors Bancorp by 1.7% in the second quarter. HighTower Advisors LLC now owns 19,753 shares of the savings and loans company’s stock valued at $261,000 after buying an additional 329 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Investors Bancorp by 1.2% in the second quarter. Prudential Financial Inc. now owns 30,281 shares of the savings and loans company’s stock valued at $405,000 after buying an additional 370 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 valued at $189,000 after buying an additional 374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 valued at $156,000 after buying an additional 739 shares in the last quarter. 73.11% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on ISBC shares. BidaskClub lowered shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Stephens set a $16.00 price objective on shares of Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods lowered shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Investors Bancorp has an average rating of “Hold” and an average price target of $15.21.
Shares of Investors Bancorp, Inc. (NASDAQ:ISBC) opened at $13.83 on Thursday. The company has a market cap of $4,136.19, a PE ratio of 21.11, a PEG ratio of 1.91 and a beta of 0.68. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 1.42. Investors Bancorp, Inc. has a 1-year low of $12.48 and a 1-year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, October 26th. The savings and loans company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The company had revenue of $179.31 million during the quarter, compared to the consensus estimate of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. During the same quarter in the prior year, the company posted $0.15 earnings per share. sell-side analysts expect that Investors Bancorp, Inc. will post 0.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.36 annualized dividend and a dividend yield of 2.60%. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.08. Investors Bancorp’s dividend payout ratio is currently 56.25%.
In other news, Director Robert M. Cashill sold 25,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total value of $327,000.00. Following the completion of the sale, the director now owns 756,902 shares in the company, valued at $9,900,278.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian D. Dittenhafer sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $13.05, for a total transaction of $293,625.00. Following the sale, the director now owns 350,388 shares of the company’s stock, 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 valued at $788,100. 2.96% of the stock is currently owned by corporate insiders.
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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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