Strs Ohio Cuts Stake in Investors Bancorp, Inc. (ISBC)
Strs Ohio cut its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,400 shares of the savings and loans company’s stock after selling 8,700 shares during the period. Strs Ohio’s holdings in Investors Bancorp were worth $1,581,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC increased its stake in Investors Bancorp by 101.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 42,282 shares of the savings and loans company’s stock worth $568,000 after buying an additional 21,253 shares during the last quarter. US Bancorp DE increased its stake in Investors Bancorp by 2.7% in the second quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock worth $189,000 after buying an additional 374 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Investors Bancorp during the second quarter worth about $1,464,000. Vaughan Nelson Investment Management L.P. increased its stake in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock worth $118,659,000 after buying an additional 3,950,175 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in Investors Bancorp by 25.2% in the second quarter. CHICAGO TRUST Co NA now owns 15,132 shares of the savings and loans company’s stock worth $202,000 after buying an additional 3,045 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
Investors Bancorp, Inc. (NASDAQ:ISBC) opened at 13.06 on Friday. The stock has a 50 day moving average price of $13.21 and a 200-day moving average price of $13.85. The stock has a market cap of $3.86 billion, a PE ratio of 20.37 and a beta of 0.70. Investors Bancorp, Inc. has a one year low of $11.23 and a one year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $179.25 million. Investors Bancorp had a net margin of 20.91% and a return on equity of 5.80%. During the same quarter last year, the business posted $0.15 earnings per share. Equities research analysts expect that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.32 dividend on an annualized basis and a yield of 2.45%. Investors Bancorp’s dividend payout ratio (DPR) is presently 50.79%.
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A number of analysts have issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 3rd. Stephens set a $16.00 price objective on Investors Bancorp and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub downgraded Investors Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Investors Bancorp in a research note on Friday, July 7th. Finally, Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Two equities 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 company’s stock. Investors Bancorp presently has a consensus rating of “Hold” and a consensus price target of $15.21.
In related news, VP Paul Kalamaras sold 120,000 shares of Investors Bancorp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the transaction, the vice president now directly owns 725,827 shares in the company, valued at $9,863,988.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.96% of the company’s stock.
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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