Goldman Sachs Group Inc. decreased its position in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 32.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662,084 shares of the savings and loans company’s stock after selling 315,789 shares during the period. Goldman Sachs Group Inc. owned 0.22% of Investors Bancorp worth $9,521,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Comerica Bank raised its position in Investors Bancorp by 0.7% in the first quarter. Comerica Bank now owns 443,513 shares of the savings and loans company’s stock worth $6,444,000 after buying an additional 3,020 shares in the last quarter. Wells Fargo & Company MN raised 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 worth $7,625,000 after buying an additional 35,081 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Investors Bancorp by 17.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock worth $168,000 after buying an additional 1,735 shares in the last quarter. Norges Bank bought a new position in Investors Bancorp during the fourth quarter worth approximately $37,929,000. Finally, Highbridge Capital Management LLC bought a new position in Investors Bancorp during the fourth quarter worth approximately $272,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
Investors Bancorp, Inc. (NASDAQ ISBC) opened at 13.42 on Monday. Investors Bancorp, Inc. has a 52 week low of $11.10 and a 52 week high of $15.11. The firm has a 50-day moving average price of $13.28 and a 200 day moving average price of $13.88. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 20.94 and a beta of 0.70.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. The business had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $179.25 million. During the same quarter last year, the business posted $0.15 EPS. On average, equities research analysts forecast that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, August 8th. Investors Bancorp’s dividend payout ratio (DPR) is currently 50.79%.
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A number of equities analysts recently commented on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday. Stephens set a $16.00 price objective on Investors Bancorp and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub lowered Investors Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Investors Bancorp in a research note on Friday, July 7th. Finally, Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Investors Bancorp has a consensus rating of “Hold” and an average price target of $15.21.
In other Investors Bancorp news, VP Paul Kalamaras sold 120,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the sale, the vice president now owns 725,827 shares in the company, valued at approximately $9,863,988.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.96% of the company’s stock.
Investors Bancorp Company Profile
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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