Insider Selling: Investors Bancorp VP Sells 130,000 Shares of Stock (ISBC)
Investors Bancorp (NASDAQ:ISBC) VP Richard Spengler sold 130,000 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $10.38, for a total transaction of $1,349,400.00. Following the completion of the sale, the vice president now directly owns 430,665 shares of the company’s stock, valued at approximately $4,470,303. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Investors Bancorp (NASDAQ:ISBC) traded up 0.68% during mid-day trading on Monday, hitting $10.44. 2,876,305 shares of the company’s stock traded hands. Investors Bancorp has a 1-year low of $8.0071 and a 1-year high of $11.2632. The stock’s 50-day moving average is $10.65 and its 200-day moving average is $10.57. The company has a market cap of $3.596 billion and a price-to-earnings ratio of 31.33.
Investors Bancorp (NASDAQ:ISBC) last released its earnings data on Thursday, July 24th. The company reported $0.10 earnings per share for the quarter, meeting the analysts’ 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.
Several analysts have recently commented on the stock. 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 issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.46.
Investors Bancorp, Inc is a holding company for Investors Bank (NASDAQ:ISBC).
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