Bank of New York Mellon Corp Has $22.85 Million Holdings in Investors Bancorp, Inc. (ISBC)
Bank of New York Mellon Corp decreased its holdings in Investors Bancorp, Inc. (NASDAQ:ISBC) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,674,930 shares of the savings and loans company’s stock after selling 183,208 shares during the quarter. Bank of New York Mellon Corp owned 0.55% of Investors Bancorp worth $22,846,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of ISBC. US Bancorp DE raised its stake in Investors Bancorp by 2.7% in the 2nd quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock worth $189,000 after purchasing an additional 374 shares in the last quarter. Sei Investments Co. raised its stake in Investors Bancorp by 17.6% in the 2nd quarter. Sei Investments Co. now owns 357,666 shares of the savings and loans company’s stock worth $4,779,000 after purchasing an additional 53,583 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Investors Bancorp by 0.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,889,633 shares of the savings and loans company’s stock worth $25,246,000 after purchasing an additional 5,189 shares in the last quarter. LMR Partners LLP acquired a new stake in Investors Bancorp in the 2nd quarter worth about $1,394,000. Finally, Denver Investment Advisors LLC raised its stake in Investors Bancorp by 40.0% in the 2nd quarter. Denver Investment Advisors LLC now owns 185,763 shares of the savings and loans company’s stock worth $2,482,000 after purchasing an additional 53,060 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.
Several brokerages have weighed in on ISBC. Sandler O’Neill cut shares of Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies cut shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, November 29th. Barclays boosted their target price on shares of Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods cut shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Finally, BidaskClub cut shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.44.
Investors Bancorp, Inc. (NASDAQ:ISBC) opened at $13.87 on Friday. The company has a market cap of $4,258.65, a P/E ratio of 21.73, a PEG ratio of 1.97 and a beta of 0.68. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.42. Investors Bancorp, Inc. has a 12-month low of $12.48 and a 12-month high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Thursday, October 26th. The savings and loans company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $179.31 million during the quarter, compared to analysts’ expectations of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. During the same period in the previous year, the company earned $0.15 EPS. sell-side analysts predict that Investors Bancorp, Inc. will post 0.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a $0.09 dividend. The ex-dividend date was Thursday, November 9th. This is a boost from Investors Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 2.60%. Investors Bancorp’s payout ratio is presently 56.25%.
In other news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total value of $68,100.00. Following the completion of the transaction, the director now directly owns 157,188 shares in the company, valued at approximately $2,140,900.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.96% of the stock is currently owned by insiders.
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Investors Bancorp 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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