BlackRock Inc. lifted its holdings in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,719,175 shares of the savings and loans company’s stock after purchasing an additional 559,318 shares during the period. BlackRock Inc. owned 5.79% of Investors Bancorp worth $245,943,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado acquired a new position in shares of Investors Bancorp during the fourth quarter worth $117,000. Cerebellum GP LLC acquired a new position in shares of Investors Bancorp during the fourth quarter worth $125,000. Belpointe Asset Management LLC acquired a new position in shares of Investors Bancorp during the third quarter worth $187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Investors Bancorp by 174.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,007 shares of the savings and loans company’s stock worth $208,000 after purchasing an additional 9,546 shares during the period. Finally, Signition LP acquired a new position in shares of Investors Bancorp during the fourth quarter worth $232,000. Institutional investors own 80.34% of the company’s stock.
In related news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total transaction of $69,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William V. Cosgrove sold 100,000 shares of Investors Bancorp stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total transaction of $1,338,000.00. The disclosure for this sale can be found here. Insiders have sold 155,000 shares of company stock valued at $2,116,200 in the last three months. 2.96% of the stock is owned by insiders.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.71%. The business had revenue of $182.91 million during the quarter, compared to the consensus estimate of $181.14 million. During the same quarter last year, the firm earned $0.18 earnings per share. analysts expect that Investors Bancorp, Inc. will post 0.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, February 8th. Investors Bancorp’s dividend payout ratio is presently 83.72%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Investors Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Barclays cut their price target on shares of Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, January 30th. Piper Jaffray Companies reiterated a “hold” rating and set a $15.50 price target on shares of Investors Bancorp in a report on Monday, January 29th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $15.00 price target on shares of Investors Bancorp in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.31.
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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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