Boston Advisors LLC trimmed its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 10.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,035 shares of the savings and loans company’s stock after selling 1,925 shares during the quarter. Boston Advisors LLC’s holdings in Investors Bancorp were worth $167,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Paradigm Asset Management Co. LLC boosted its holdings in shares of Investors Bancorp by 10.4% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 29,600 shares of the savings and loans company’s stock valued at $363,000 after buying an additional 2,800 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $31,000. CHICAGO TRUST Co NA boosted its holdings in shares of Investors Bancorp by 19.9% in the 3rd quarter. CHICAGO TRUST Co NA now owns 26,101 shares of the savings and loans company’s stock valued at $320,000 after buying an additional 4,331 shares during the last quarter. Mcrae Capital Management Inc. boosted its holdings in shares of Investors Bancorp by 29.8% in the 3rd quarter. Mcrae Capital Management Inc. now owns 22,723 shares of the savings and loans company’s stock valued at $279,000 after buying an additional 5,223 shares during the last quarter. Finally, Cim Investment Mangement Inc. boosted its holdings in shares of Investors Bancorp by 41.8% in the 3rd quarter. Cim Investment Mangement Inc. now owns 28,612 shares of the savings and loans company’s stock valued at $351,000 after buying an additional 8,435 shares during the last quarter. 61.04% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $10.28, for a total transaction of $51,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.51% of the company’s stock.
Several brokerages have issued reports on ISBC. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co downgraded Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 price target for the company. in a report on Friday, February 1st. Piper Jaffray Companies upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.50 to $13.50 in a research report on Friday, February 1st. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Friday, January 18th. Finally, Barclays reiterated a “hold” rating and set a $14.00 price objective on shares of Investors Bancorp in a research report on Friday, January 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Investors Bancorp has an average rating of “Hold” and an average price target of $13.88.
Shares of NASDAQ ISBC traded up $0.14 during mid-day trading on Friday, reaching $12.65. The company had a trading volume of 6,506,310 shares, compared to its average volume of 2,969,463. The stock has a market capitalization of $4.54 billion, a P/E ratio of 15.62, a PEG ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.21 and a current ratio of 1.21. Investors Bancorp Inc has a one year low of $9.94 and a one year high of $14.41.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $148.51 million for the quarter, compared to analyst estimates of $175.20 million. Investors Bancorp had a return on equity of 7.50% and a net margin of 20.70%. During the same period last year, the firm posted $0.17 earnings per share. Equities research analysts forecast that Investors Bancorp Inc will post 0.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Stockholders of record on Monday, February 11th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, February 8th. Investors Bancorp’s payout ratio is 54.32%.
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Investors Bancorp 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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