Pitcairn Co. Sells 1,741 Shares of Investors Bancorp, Inc. (ISBC)
Pitcairn Co. reduced its stake in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 26,232 shares of the savings and loans company’s stock after selling 1,741 shares during the period. Pitcairn Co.’s holdings in Investors Bancorp were worth $351,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. World Asset Management Inc boosted its stake in Investors Bancorp by 0.7% in the first quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock valued at $157,000 after buying an additional 72 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Investors Bancorp during the first quarter valued at $163,000. TFS Capital LLC acquired a new stake in Investors Bancorp during the first quarter valued at $164,000. Bronfman E.L. Rothschild L.P. boosted its stake 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 valued at $168,000 after buying an additional 1,735 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Investors Bancorp by 4.1% in the first quarter. US Bancorp DE now owns 13,703 shares of the savings and loans company’s stock valued at $198,000 after buying an additional 546 shares during the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.
Investors Bancorp, Inc. (NASDAQ:ISBC) opened at 13.19 on Wednesday. The stock has a 50 day moving average price of $13.23 and a 200-day moving average price of $13.83. Investors Bancorp, Inc. has a 52 week low of $11.10 and a 52 week high of $15.11. The company has a market capitalization of $3.90 billion, a PE ratio of 20.58 and a beta of 0.70.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. The company had revenue of $176.38 million for the quarter, compared to the consensus estimate of $179.25 million. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, August 8th. Investors Bancorp’s dividend payout ratio is currently 50.79%.
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ISBC has been the subject of several recent analyst reports. Zacks Investment Research cut Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Deutsche Bank AG cut their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, May 3rd. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Royal Bank Of Canada restated a “buy” rating and set a $16.00 target price on shares of Investors Bancorp in a research note on Friday, July 7th. Finally, Stephens initiated coverage on Investors Bancorp in a research note on Thursday, July 13th. They set an “overweight” rating and a $16.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.21.
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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