Zeke Capital Advisors LLC Raises Holdings in Investors Bancorp Inc (ISBC)
Zeke Capital Advisors LLC grew its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 530.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,274 shares of the savings and loans company’s stock after purchasing an additional 98,678 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Investors Bancorp were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in ISBC. Royal Bank of Canada lifted its position in shares of Investors Bancorp by 1,321.9% during the 1st quarter. Royal Bank of Canada now owns 222,378 shares of the savings and loans company’s stock valued at $3,034,000 after buying an additional 206,739 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Investors Bancorp by 40.7% during the 1st quarter. Principal Financial Group Inc. now owns 38,573 shares of the savings and loans company’s stock valued at $526,000 after buying an additional 11,151 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Investors Bancorp by 32.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 32,765 shares of the savings and loans company’s stock valued at $419,000 after buying an additional 7,950 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Investors Bancorp by 5.2% during the 2nd quarter. Bank of Montreal Can now owns 305,781 shares of the savings and loans company’s stock valued at $3,911,000 after buying an additional 15,133 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Investors Bancorp during the 2nd quarter valued at about $409,000. Institutional investors and hedge funds own 62.87% of the company’s stock.
ISBC has been the topic of a number of analyst reports. BidaskClub cut Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. ValuEngine cut Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Zacks Investment Research cut Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Stephens reaffirmed a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research report on Thursday, August 16th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $14.00 price objective on shares of Investors Bancorp in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.79.
Shares of ISBC opened at $11.90 on Thursday. The company has a market cap of $4.35 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. Investors Bancorp Inc has a 12-month low of $10.27 and a 12-month high of $14.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.23 and a current ratio of 1.23.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $177.21 million for the quarter, compared to the consensus estimate of $181.19 million. Investors Bancorp had a return on equity of 7.01% and a net margin of 16.73%. On average, equities analysts expect that Investors Bancorp Inc will post 0.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, November 8th. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. Investors Bancorp’s dividend payout ratio (DPR) is 70.97%.
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About Investors Bancorp
Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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