Insider Selling: Doreen R. Byrnes Sells 140,000 Shares of Investors Bancorp Stock (ISBC)
Investors Bancorp (NASDAQ:ISBC) Director Doreen R. Byrnes sold 140,000 shares of Investors Bancorp stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $10.36, for a total value of $1,450,400.00. Following the completion of the sale, the director now directly owns 144,013 shares of the company’s stock, valued at approximately $1,491,975. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on ISBC shares. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Investors Bancorp from $12.50 to $13.50 in a research note on Monday, July 28th. Separately, analysts at Compass Point reiterated a “buy” rating on shares of Investors Bancorp in a research note on Friday, July 25th. Finally, analysts at Guggenheim downgraded shares of Investors Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $11.75 price target on the stock, down previously from $12.00. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $12.46.
Shares of Investors Bancorp (NASDAQ:ISBC) traded down 0.10% on Tuesday, hitting $10.36. 2,451,828 shares of the company’s stock traded hands. Investors Bancorp has a 52 week low of $8.0071 and a 52 week high of $11.2632. The stock’s 50-day moving average is $10.75 and its 200-day moving average is $10.56. The company has a market cap of $3.604 billion and a price-to-earnings ratio of 31.33.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Analysts expect that Investors Bancorp will post $0.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 18th. Investors of record on Monday, August 4th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, July 31st.
Investors Bancorp, Inc is a holding company for Investors Bank (NASDAQ:ISBC).
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