Marshall Wace LLP purchased a new stake in Investors Bancorp Inc (NASDAQ:ISBC) in the 3rd quarter, Holdings Channel reports. The firm purchased 1,843,788 shares of the savings and loans company’s stock, valued at approximately $22,623,000.
Several other hedge funds and other institutional investors have also bought and sold shares of ISBC. Principal Financial Group Inc. grew its position in shares of Investors Bancorp by 40.7% in the 1st quarter. Principal Financial Group Inc. now owns 38,573 shares of the savings and loans company’s stock worth $526,000 after buying an additional 11,151 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Investors Bancorp by 17.0% in the 2nd quarter. TD Asset Management Inc. now owns 96,300 shares of the savings and loans company’s stock worth $1,232,000 after buying an additional 14,000 shares during the last quarter. First Trust Advisors LP grew its position in shares of Investors Bancorp by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 2,033,869 shares of the savings and loans company’s stock worth $26,013,000 after buying an additional 12,867 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Investors Bancorp by 42.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 29,746 shares of the savings and loans company’s stock worth $380,000 after buying an additional 8,795 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Investors Bancorp in the 2nd quarter worth approximately $196,000. 61.25% of the stock is owned by institutional investors and hedge funds.
ISBC has been the topic of several research reports. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Stephens restated a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a research report on Thursday, August 16th. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Investors Bancorp has an average rating of “Hold” and a consensus price target of $14.79.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, October 1st. The stock was sold at an average price of $12.29, for a total transaction of $61,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.51% of the stock is currently owned by insiders.
Shares of NASDAQ:ISBC opened at $11.75 on Friday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.29 and a beta of 0.64. 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 1.60, a current ratio of 1.21 and a quick ratio of 1.21.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The business had revenue of $177.21 million during the quarter, compared to analysts’ expectations of $181.19 million. Investors Bancorp had a return on equity of 7.05% and a net margin of 16.73%. As a group, research analysts anticipate that Investors Bancorp Inc will post 0.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were paid a dividend of $0.11 per share. This is a boost from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, November 8th. This represents a $0.44 dividend on an annualized basis and a yield of 3.74%. Investors Bancorp’s payout ratio is presently 70.97%.
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Investors Bancorp Company Profile
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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