Prudential Financial Inc. lifted its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 100.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,749 shares of the savings and loans company’s stock after purchasing an additional 136,928 shares during the period. Prudential Financial Inc. owned 0.08% of Investors Bancorp worth $2,847,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Paradigm Asset Management Co. LLC boosted its position in shares of Investors Bancorp by 10.4% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 29,600 shares of the savings and loans company’s stock valued at $363,000 after purchasing an additional 2,800 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Investors Bancorp during the 4th quarter valued at about $31,000. Enlightenment Research LLC bought a new stake in shares of Investors Bancorp during the 4th quarter valued at about $35,000. Teton Advisors Inc. boosted its position in shares of Investors Bancorp by 7.6% during the 4th quarter. Teton Advisors Inc. now owns 110,846 shares of the savings and loans company’s stock valued at $1,153,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Cim Investment Mangement Inc. boosted its position in shares of Investors Bancorp by 41.8% during the 3rd quarter. Cim Investment Mangement Inc. now owns 28,612 shares of the savings and loans company’s stock valued at $351,000 after purchasing an additional 8,435 shares in the last quarter. Institutional investors own 59.25% of the company’s stock.
Several equities research analysts recently commented on the company. BidaskClub lowered Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday. Wells Fargo & Co lowered Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 target price on the stock. in a research report on Friday, February 1st. Piper Jaffray Companies upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.50 to $13.50 in a research report on Friday, February 1st. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, January 18th. Finally, Barclays reiterated a “hold” rating and issued a $14.00 price target on shares of Investors Bancorp in a report on Friday, January 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.88.
In other Investors Bancorp news, Director Doreen R. Byrnes sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $12.74, for a total value of $382,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $10.28, for a total value of $51,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,100 shares of company stock worth $3,739,273. Corporate insiders own 3.51% of the company’s stock.
Shares of NASDAQ:ISBC opened at $12.13 on Friday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.24 and a beta of 0.92. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.23 and a current ratio of 1.23. Investors Bancorp Inc has a 52-week low of $9.94 and a 52-week high of $14.40.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. The business had revenue of $148.51 million for the quarter, compared to analyst estimates of $175.20 million. Investors Bancorp had a return on equity of 7.54% and a net margin of 20.70%. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities research analysts anticipate that Investors Bancorp Inc will post 0.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 25th. Shareholders of record on Monday, February 11th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 8th. This represents a $0.44 annualized dividend and a yield of 3.63%. Investors Bancorp’s payout ratio is currently 54.32%.
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About Investors Bancorp
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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