Marshall Wace LLP bought a new position in shares of Investors Bancorp Inc (NASDAQ:ISBC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,843,788 shares of the savings and loans company’s stock, valued at approximately $22,623,000. Marshall Wace LLP owned about 0.51% of Investors Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Great Lakes Advisors LLC raised its stake in shares of Investors Bancorp by 6.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 667,521 shares of the savings and loans company’s stock valued at $8,190,000 after acquiring an additional 38,795 shares during the period. Vanguard Group Inc. raised its stake in shares of Investors Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 22,577,234 shares of the savings and loans company’s stock valued at $277,023,000 after acquiring an additional 194,524 shares during the period. Morgan Stanley raised its stake in shares of Investors Bancorp by 16.9% in the 3rd quarter. Morgan Stanley now owns 1,006,666 shares of the savings and loans company’s stock valued at $12,351,000 after acquiring an additional 145,567 shares during the period. Nordea Investment Management AB purchased a new position in shares of Investors Bancorp in the 3rd quarter valued at $8,043,000. Finally, Teachers Advisors LLC raised its stake in shares of Investors Bancorp by 2.2% in the 3rd quarter. Teachers Advisors LLC now owns 511,567 shares of the savings and loans company’s stock valued at $6,277,000 after acquiring an additional 10,922 shares during the period. Hedge funds and other institutional investors own 61.25% of the company’s stock.
In related news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.51% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Stephens reissued a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a research note on Thursday, August 16th. Finally, Zacks Investment Research downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.79.
Investors Bancorp stock opened at $11.75 on Friday. Investors Bancorp Inc has a 12-month low of $10.27 and a 12-month high of $14.69. The firm has a market cap of $4.30 billion, a P/E ratio of 18.95, a PEG ratio of 1.29 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.60.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. Investors Bancorp had a net margin of 16.73% and a return on equity of 7.05%. The firm had revenue of $177.21 million for the quarter, compared to the consensus estimate of $181.19 million. On average, equities analysts expect that Investors Bancorp Inc will post 0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.11 per share. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.44 annualized dividend and a yield of 3.74%. Investors Bancorp’s payout ratio is 70.97%.
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Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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