Wells Fargo & Company MN increased its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 185.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,081,145 shares of the savings and loans company’s stock after buying an additional 702,829 shares during the period. Wells Fargo & Company MN owned about 0.35% of Investors Bancorp worth $15,007,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado bought a new position in Investors Bancorp during the 4th quarter valued at about $117,000. Cerebellum GP LLC bought a new position in Investors Bancorp in the 4th quarter worth about $125,000. Belpointe Asset Management LLC bought a new position in Investors Bancorp in the 3rd quarter worth about $187,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 valued at $208,000 after purchasing an additional 9,546 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Investors Bancorp during the third quarter valued at approximately $316,000. 80.33% of the stock is owned by institutional investors.
In related news, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total value of $69,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO P. Sean Burke sold 50,000 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $14.17, for a total transaction of $708,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,000 shares of company stock valued at $2,116,200. 2.96% of the stock is owned by insiders.
A number of research analysts have issued reports on the stock. Piper Jaffray Companies cut shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Wednesday, November 29th. BidaskClub lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Barclays raised their price target on shares of Investors Bancorp from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 target price on shares of Investors Bancorp in a research report on Friday, December 22nd. Finally, Zacks Investment Research raised shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Investors Bancorp currently has an average rating of “Hold” and an average price target of $15.31.
Investors Bancorp stock traded down $0.27 during midday trading on Thursday, reaching $13.73. 1,353,744 shares of the company’s stock traded hands, compared to its average volume of 2,330,440. Investors Bancorp, Inc. has a 12 month low of $12.48 and a 12 month high of $14.85. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. The firm has a market cap of $4,261.42, a PE ratio of 31.82, a PEG ratio of 1.55 and a beta of 0.66.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $181.14 million. During the same quarter in the prior year, the business posted $0.18 EPS. sell-side analysts predict that Investors Bancorp, Inc. will post 0.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.36 dividend on an annualized basis and a yield of 2.62%. Investors Bancorp’s payout ratio is currently 81.82%.
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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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