Insider Selling: Investors Bancorp Director Unloads 40,000 Shares of Stock (ISBC)
Investors Bancorp (NASDAQ:ISBC) Director Brian D. Dittenhafer unloaded 40,000 shares of Investors Bancorp stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $10.40, for a total value of $416,000.00. Following the completion of the sale, the director now directly owns 241,557 shares of the company’s stock, valued at approximately $2,512,193. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Investors Bancorp (NASDAQ:ISBC) traded up 0.19% during mid-day trading on Wednesday, hitting $10.52. The stock had a trading volume of 1,474,264 shares. 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 $10.6 and its 200-day moving average is $10.58. The company has a market cap of $3.624 billion and a price-to-earnings ratio of 31.72.
Investors Bancorp (NASDAQ:ISBC) last announced its 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.
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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Investors Bancorp currently 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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