Insider Selling: Richard Spengler Sells 130,000 Shares of Investors Bancorp Stock (ISBC)
Investors Bancorp (NASDAQ:ISBC) VP Richard Spengler unloaded 130,000 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The shares were sold at an average price of $10.38, for a total transaction of $1,349,400.00. Following the transaction, the vice president now directly owns 430,665 shares in the company, valued at approximately $4,470,303. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Investors Bancorp presently has an average rating of “Buy” and an average target price of $12.46.
Investors Bancorp (NASDAQ:ISBC) traded up 0.19% during mid-day trading on Wednesday, hitting $10.52. The stock had a trading volume of 1,474,364 shares. Investors Bancorp has a one year low of $8.0071 and a one year 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 posted its quarterly earnings results 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.
Investors Bancorp, Inc is a holding company for Investors Bank (NASDAQ:ISBC).
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