UBS Asset Management Americas Inc. Sells 50,952 Shares of Investors Bancorp, Inc. (ISBC)
UBS Asset Management Americas Inc. decreased its holdings in Investors Bancorp, Inc. (NASDAQ:ISBC) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,046,431 shares of the savings and loans company’s stock after selling 50,952 shares during the quarter. UBS Asset Management Americas Inc. owned 0.35% of Investors Bancorp worth $13,980,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. World Asset Management Inc boosted its position in shares of Investors Bancorp by 0.7% during the 1st quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock valued at $157,000 after acquiring an additional 72 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Investors Bancorp in the first quarter valued at about $163,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Investors Bancorp by 6.8% in the second 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 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 acquiring an additional 546 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Investors Bancorp in the second quarter valued at about $194,000. Institutional investors own 74.21% of the company’s stock.
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In other news, Director Robert M. Cashill sold 25,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total transaction of $327,000.00. Following the sale, the director now directly owns 756,902 shares of the company’s stock, valued at approximately $9,900,278.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis M. Bone sold 7,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $13.25, for a total value of $99,375.00. Following the sale, the director now directly owns 172,644 shares in the company, valued at $2,287,533. The disclosure for this sale can be found here. Insiders sold a total of 60,000 shares of company stock valued at $788,100 over the last ninety days. Insiders own 2.96% of the company’s stock.
Several research analysts recently issued reports on ISBC shares. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub downgraded Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $16.00 price objective on shares of Investors Bancorp in a report on Friday, July 7th. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 3rd. Finally, Stephens set a $16.00 price objective on Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.21.
Shares of Investors Bancorp, Inc. (NASDAQ:ISBC) opened at 13.70 on Wednesday. The company’s 50 day moving average is $13.21 and its 200-day moving average is $13.49. The firm has a market cap of $4.05 billion, a PE ratio of 21.37 and a beta of 0.69. Investors Bancorp, Inc. has a 12 month low of $11.58 and a 12 month high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate 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 quarter last year, the business earned $0.15 EPS. Equities research analysts predict that Investors Bancorp, Inc. will post $0.56 EPS for the current year.
About Investors Bancorp
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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