Highlander Capital Management LLC Acquires 7,544 Shares of Investors Bank (ISBC)
Highlander Capital Management LLC boosted its position in shares of Investors Bank (NASDAQ:ISBC) by 31.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 31,494 shares of the savings and loans company’s stock after purchasing an additional 7,544 shares during the quarter. Highlander Capital Management LLC’s holdings in Investors Bank were worth $415,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Great Lakes Advisors LLC grew its position in Investors Bank by 0.6% during the 1st quarter. Great Lakes Advisors LLC now owns 686,484 shares of the savings and loans company’s stock valued at $9,364,000 after purchasing an additional 3,945 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Investors Bank by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 162,200 shares of the savings and loans company’s stock valued at $2,206,000 after purchasing an additional 5,000 shares during the last quarter. Swiss National Bank grew its position in Investors Bank by 1.6% during the 4th quarter. Swiss National Bank now owns 445,076 shares of the savings and loans company’s stock valued at $6,178,000 after purchasing an additional 6,900 shares during the last quarter. NBW Capital LLC grew its position in Investors Bank by 3.2% during the 4th quarter. NBW Capital LLC now owns 245,447 shares of the savings and loans company’s stock valued at $3,407,000 after purchasing an additional 7,592 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Investors Bank during the 4th quarter valued at about $117,000. 78.97% of the stock is currently owned by institutional investors.
In other Investors Bank news, Director Michele N. Siekerka sold 70,606 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $13.50, for a total transaction of $953,181.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $13.58, for a total transaction of $67,900.00. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by corporate insiders.
Investors Bank (NASDAQ:ISBC) last posted its earnings results on Thursday, April 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $181.59 million for the quarter, compared to analysts’ expectations of $183.58 million. Investors Bank had a net margin of 14.78% and a return on equity of 6.12%. research analysts forecast that Investors Bank will post 0.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Thursday, May 10th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, May 9th. Investors Bank’s dividend payout ratio is currently 58.06%.
ISBC has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Investors Bank from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Barclays raised shares of Investors Bank from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock in a research report on Friday, May 4th. Sandler O’Neill raised shares of Investors Bank from a “hold” rating to a “buy” rating and set a $15.50 price objective on the stock in a research report on Thursday, April 5th. Finally, BidaskClub downgraded shares of Investors Bank from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.50.
About Investors Bank
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.
Receive News & Ratings for Investors Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bank and related companies with MarketBeat.com's FREE daily email newsletter.