Teacher Retirement System of Texas Cuts Stake in Investors Bancorp, Inc. (ISBC)
Teacher Retirement System of Texas lowered its holdings in Investors Bancorp, Inc. (NASDAQ:ISBC) by 85.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,729 shares of the savings and loans company’s stock after selling 131,939 shares during the quarter. Teacher Retirement System of Texas’ holdings in Investors Bancorp were worth $296,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Investors Bancorp by 0.3% in 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 during the period. HighTower Advisors LLC increased 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 worth $261,000 after acquiring an additional 329 shares during the period. Prudential Financial Inc. boosted its holdings in Investors Bancorp by 1.2% during the second quarter. Prudential Financial Inc. now owns 30,281 shares of the savings and loans company’s stock worth $405,000 after buying an additional 370 shares in the last quarter. US Bancorp DE boosted its holdings in Investors Bancorp by 2.7% during the second quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock worth $189,000 after buying an additional 374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 worth $156,000 after buying an additional 739 shares in the last quarter. Hedge funds and other institutional investors own 70.82% of the company’s stock.
In other Investors Bancorp news, Director Robert M. Cashill sold 25,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total transaction of $327,000.00. Following the transaction, the director now directly owns 756,902 shares of the company’s stock, valued at $9,900,278.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis M. Bone sold 7,500 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $13.25, for a total transaction of $99,375.00. Following the transaction, the director now directly owns 172,644 shares in the company, valued at $2,287,533. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,500 shares of company stock worth $494,475. Insiders own 2.96% of the company’s stock.
A number of analysts recently issued reports on ISBC shares. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Piper Jaffray Companies reissued a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a report on Thursday, August 3rd. Keefe, Bruyette & Woods downgraded shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Barclays PLC increased their price target on shares of Investors Bancorp from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, October 30th. Finally, Stephens set a $16.00 price target on shares of Investors Bancorp and gave the stock a “buy” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.21.
Investors Bancorp, Inc. (NASDAQ ISBC) opened at $14.21 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. The stock has a market cap of $4,350.50, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.68. Investors Bancorp, Inc. has a twelve month low of $12.48 and a twelve month high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $179.31 million for 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 period last year, the firm posted $0.15 earnings per share. equities research analysts predict that Investors Bancorp, Inc. will post 0.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.53%. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 9th. Investors Bancorp’s dividend payout ratio (DPR) is presently 56.25%.
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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