Investors Bancorp, Inc. (ISBC) Short Interest Update
Investors Bancorp, Inc. (NASDAQ:ISBC) saw a large decline in short interest in June. As of June 30th, there was short interest totalling 4,309,206 shares, a decline of 32.1% from the June 15th total of 6,347,341 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,129,329 shares, the days-to-cover ratio is currently 1.4 days.
In other Investors Bancorp news, VP Paul Kalamaras sold 120,000 shares of Investors Bancorp stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the sale, the vice president now directly owns 725,827 shares in the company, valued at approximately $9,863,988.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Doreen R. Byrnes sold 40,000 shares of Investors Bancorp stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $13.67, for a total transaction of $546,800.00. Following the completion of the sale, the director now owns 169,663 shares in the company, valued at $2,319,293.21. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Boston Partners boosted its stake in shares of Investors Bancorp by 8.2% in the first quarter. Boston Partners now owns 759,155 shares of the savings and loans company’s stock worth $10,917,000 after buying an additional 57,236 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Investors Bancorp during the first quarter worth approximately $2,369,000. First Trust Advisors LP boosted its stake in shares of Investors Bancorp by 22.0% in the first quarter. First Trust Advisors LP now owns 733,027 shares of the savings and loans company’s stock worth $10,541,000 after buying an additional 132,409 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in shares of Investors Bancorp during the first quarter worth approximately $17,378,000. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in shares of Investors Bancorp during the first quarter worth approximately $1,114,000. Institutional investors and hedge funds own 76.06% of the company’s stock.
Shares of Investors Bancorp (NASDAQ ISBC) opened at 13.09 on Wednesday. The stock has a 50 day moving average of $13.36 and a 200-day moving average of $13.95. Investors Bancorp has a 12-month low of $11.10 and a 12-month high of $15.11. The company has a market capitalization of $3.90 billion, a P/E ratio of 19.83 and a beta of 0.71.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Thursday, April 27th. The savings and loans company reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. The business had revenue of $176.82 million during the quarter, compared to analysts’ expectations of $175.48 million. Investors Bancorp had a net margin of 21.92% and a return on equity of 5.95%. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts forecast that Investors Bancorp will post $0.62 EPS for the current year.
A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods set a $16.00 price target on shares of Investors Bancorp and gave the company a “buy” rating in a report on Monday, April 3rd. Zacks Investment Research upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, April 5th. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Deutsche Bank AG reduced their price target on shares of Investors Bancorp from $15.00 to $14.50 and set a “hold” rating on the stock in a report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of Investors Bancorp in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.93.
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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