Investors Bancorp, Inc. (ISBC) Director Robert C. Albanese Sells 5,000 Shares
Investors Bancorp, Inc. (NASDAQ:ISBC) Director Robert C. Albanese sold 5,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $13.62, for a total transaction of $68,100.00. Following the completion of the sale, the director now directly owns 157,188 shares in the company, valued at $2,140,900.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Investors Bancorp, Inc. (NASDAQ ISBC) traded down 0.29% on Tuesday, reaching $13.70. 3,307,858 shares of the company traded hands. The stock has a 50 day moving average of $13.21 and a 200-day moving average of $13.49. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 21.37 and a beta of 0.69. Investors Bancorp, Inc. has a 1-year low of $11.58 and a 1-year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $176.38 million for the quarter, compared to analyst estimates of $179.25 million. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. During the same period last year, the business earned $0.15 EPS. On average, equities analysts anticipate that Investors Bancorp, Inc. will post $0.56 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Comerica Bank increased its position in shares of Investors Bancorp by 1.3% during the 2nd quarter. Comerica Bank now owns 449,377 shares of the savings and loans company’s stock worth $5,860,000 after purchasing an additional 5,864 shares during the last quarter. Wells Fargo & Company MN lifted its position in Investors Bancorp by 7.1% in the first quarter. Wells Fargo & Company MN now owns 530,233 shares of the savings and loans company’s stock valued at $7,625,000 after buying an additional 35,081 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock valued at $118,659,000 after buying an additional 3,950,175 shares during the last quarter. Geode Capital Management LLC lifted its position in Investors Bancorp by 3.8% in the first quarter. Geode Capital Management LLC now owns 2,725,538 shares of the savings and loans company’s stock valued at $39,193,000 after buying an additional 98,739 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Investors Bancorp by 6.0% in the second quarter. Marshall Wace LLP now owns 527,924 shares of the savings and loans company’s stock valued at $6,863,000 after buying an additional 29,802 shares during the last quarter. 74.21% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Stephens set a $16.00 target price on Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $16.00 target price on shares of Investors Bancorp in a research note on Friday, July 7th. BidaskClub downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.21.
About Investors Bancorp
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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