Verition Fund Management LLC Has $591,000 Stake in Investors Bancorp, Inc. (ISBC)
Verition Fund Management LLC lifted its stake in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 48.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,605 shares of the savings and loans company’s stock after purchasing an additional 13,815 shares during the period. Verition Fund Management LLC’s holdings in Investors Bancorp were worth $591,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ISBC. BlackRock Inc. boosted its holdings in Investors Bancorp by 3.3% in the fourth quarter. BlackRock Inc. now owns 17,719,175 shares of the savings and loans company’s stock valued at $245,943,000 after purchasing an additional 559,318 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Investors Bancorp by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 8,021,712 shares of the savings and loans company’s stock valued at $109,416,000 after purchasing an additional 128,977 shares in the last quarter. Citadel Advisors LLC boosted its holdings in Investors Bancorp by 149.5% in the fourth quarter. Citadel Advisors LLC now owns 7,034,045 shares of the savings and loans company’s stock valued at $97,633,000 after purchasing an additional 4,214,853 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Investors Bancorp by 20.8% in the third quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock valued at $62,090,000 after purchasing an additional 783,442 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Investors Bancorp by 325.3% in the fourth quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock valued at $35,892,000 after purchasing an additional 1,977,898 shares in the last quarter. 80.33% of the stock is owned by institutional investors and hedge funds.
Shares of Investors Bancorp stock opened at $14.00 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. Investors Bancorp, Inc. has a 52 week low of $12.48 and a 52 week high of $14.85. The firm has a market capitalization of $4,261.42, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.55 and a beta of 0.66.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, February 8th. Investors Bancorp’s dividend payout ratio is currently 81.82%.
In other Investors Bancorp news, Director William V. Cosgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total value of $1,338,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total value of $69,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,000 shares of company stock valued at $2,116,200. 2.96% of the stock is owned by company insiders.
ISBC has been the subject of a number of research analyst reports. Barclays lowered their price target on Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, January 30th. Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Investors Bancorp in a report on Friday, December 22nd. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $15.00 price target on shares of Investors Bancorp in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.31.
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Investors Bancorp 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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