Investors Bancorp, Inc. (ISBC) Short Interest Update
Investors Bancorp, Inc. (NASDAQ:ISBC) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 4,309,206 shares, a decline of 32.1% from the June 15th total of 6,347,341 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 3,129,329 shares, the short-interest ratio is currently 1.4 days.
ISBC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods set a $16.00 target price on Investors Bancorp and gave the stock a “buy” rating in a research report on Monday, April 3rd. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Deutsche Bank AG dropped their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating on the stock in a research report on Wednesday, May 3rd. Zacks Investment Research cut Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, March 30th. Finally, Stephens initiated coverage on Investors Bancorp in a research report on Thursday. They set an “overweight” rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.93.
In related news, Director Doreen R. Byrnes sold 40,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $13.67, for a total value of $546,800.00. Following the transaction, the director now owns 169,663 shares in the company, valued at approximately $2,319,293.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Kalamaras sold 120,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the transaction, the vice president now owns 725,827 shares in the company, valued at approximately $9,863,988.93. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Boston Partners raised its stake in shares of Investors Bancorp by 8.2% in the first quarter. Boston Partners now owns 759,155 shares of the savings and loans company’s stock valued at $10,917,000 after buying an additional 57,236 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Investors Bancorp during the first quarter valued at approximately $2,369,000. First Trust Advisors LP raised its stake in shares of Investors Bancorp by 22.0% in the first quarter. First Trust Advisors LP now owns 733,027 shares of the savings and loans company’s stock valued at $10,541,000 after buying an additional 132,409 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new stake in shares of Investors Bancorp during the first quarter valued at approximately $17,378,000. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in shares of Investors Bancorp during the first quarter valued at approximately $1,114,000. Institutional investors own 76.07% of the company’s stock.
Investors Bancorp (NASDAQ:ISBC) opened at 13.14 on Friday. The firm has a market cap of $3.91 billion, a PE ratio of 19.91 and a beta of 0.71. The firm’s 50-day moving average price is $13.40 and its 200 day moving average price is $14.01. Investors Bancorp has a 52-week low of $10.71 and a 52-week high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Thursday, April 27th. The savings and loans company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Investors Bancorp had a net margin of 21.92% and a return on equity of 5.95%. The company had revenue of $176.82 million for the quarter, compared to analyst estimates of $175.48 million. During the same quarter last year, the business earned $0.14 earnings per share. On average, equities analysts anticipate that Investors Bancorp will post $0.62 earnings per share for the current year.
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Investors Bancorp Company Profile
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.
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