Dynamic Technology Lab Private Ltd Purchases Shares of 14,448 Investors Bancorp, Inc. (ISBC)
Dynamic Technology Lab Private Ltd purchased a new stake in Investors Bancorp, Inc. (NASDAQ:ISBC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,448 shares of the savings and loans company’s stock, valued at approximately $193,000.
Other hedge funds also recently modified their holdings of the company. Citigroup Inc. increased its position in Investors Bancorp by 45.7% in the 2nd quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock valued at $146,000 after acquiring an additional 3,417 shares during the period. Gotham Asset Management LLC acquired a new position in Investors Bancorp in the 1st quarter valued at about $163,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Investors Bancorp by 6.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 739 shares during the period. US Bancorp DE increased its position 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 valued at $189,000 after acquiring an additional 374 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Investors Bancorp in the 2nd quarter valued at about $194,000. Hedge funds and other institutional investors own 73.81% of the company’s stock.
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Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens set a $16.00 price target on Investors Bancorp and gave the company a “buy” rating in a research report on Friday, July 28th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price target on shares of Investors Bancorp in a research report on Friday, July 7th. Barclays PLC lifted their price objective on Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods lowered Investors Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $15.25.
In related news, Director Brian D. Dittenhafer sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $13.05, for a total transaction of $293,625.00. Following the transaction, the director now owns 350,388 shares in the company, valued at $4,572,563.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Cashill sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total transaction of $327,000.00. Following the transaction, the director now owns 756,902 shares in the company, valued at approximately $9,900,278.16. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $788,100 in the last 90 days. 2.96% of the stock is owned by company insiders.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly 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. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.85%. The company had revenue of $179.31 million for the quarter, compared to analyst estimates of $178.16 million. During the same quarter last year, the business earned $0.15 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.36 annualized dividend and a dividend yield of 2.62%. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.08. Investors Bancorp’s dividend payout ratio (DPR) is presently 50.00%.
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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