Richard Spengler Sells 270,000 Shares of Investors Bancorp Stock (ISBC)
Investors Bancorp (NASDAQ:ISBC) VP Richard Spengler sold 270,000 shares of the company’s 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 transaction of $2,797,200.00. Following the completion of the transaction, the vice president now directly owns 430,665 shares of the company’s stock, valued at approximately $4,461,689. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ISBC has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $12.46.
Shares of Investors Bancorp (NASDAQ:ISBC) traded down 0.10% on Tuesday, hitting $10.36. The stock had a trading volume of 2,451,828 shares. Investors Bancorp has a 1-year low of $8.0071 and a 1-year high of $11.2632. The stock has a 50-day moving average of $10.75 and a 200-day moving average of $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 posted its quarterly earnings results on Thursday, July 24th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.10. On average, analysts predict that Investors Bancorp will post $0.40 earnings per share 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).
Receive News & Ratings for Investors Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.