TD Asset Management Inc. bought a new stake in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 77,900 shares of the savings and loans company’s stock, valued at approximately $1,063,000.
Several other large investors have also made changes to their positions in the company. Alps Advisors Inc. raised its stake in Investors Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 33,024 shares of the savings and loans company’s stock valued at $441,000 after purchasing an additional 85 shares during the last quarter. HighTower Advisors LLC raised its stake in Investors Bancorp by 1.7% in the 2nd quarter. HighTower Advisors LLC now owns 19,753 shares of the savings and loans company’s stock valued at $261,000 after purchasing an additional 329 shares during the last quarter. Prudential Financial Inc. raised its stake in Investors Bancorp by 1.2% in the 2nd quarter. Prudential Financial Inc. now owns 30,281 shares of the savings and loans company’s stock valued at $405,000 after purchasing an additional 370 shares during the last quarter. US Bancorp DE raised its stake in Investors Bancorp by 2.7% in the 2nd quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock valued at $189,000 after purchasing an additional 374 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Investors Bancorp by 6.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock valued at $156,000 after purchasing an additional 739 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $13.62, for a total value of $68,100.00. Following the completion of the sale, the director now directly owns 157,188 shares of the company’s stock, valued at approximately $2,140,900.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.96% of the stock is owned by company insiders.
Several research analysts recently commented on the company. BidaskClub downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Sandler O’Neill downgraded Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies downgraded Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, November 29th. Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Barclays increased their price objective on Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.31.
Shares of Investors Bancorp, Inc. (ISBC) opened at $14.00 on Wednesday. Investors Bancorp, Inc. has a 52 week low of $12.48 and a 52 week high of $15.11. The stock has a market capitalization of $4,283.15, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.98 and a beta of 0.68. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.42.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Investors Bancorp had a return on equity of 5.84% and a net margin of 20.55%. The business had revenue of $179.31 million during the quarter, compared to the consensus estimate of $178.16 million. During the same period last year, the company earned $0.15 EPS. sell-side analysts anticipate that Investors Bancorp, Inc. will post 0.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were paid a $0.09 dividend. The ex-dividend date was Thursday, November 9th. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.57%. Investors Bancorp’s dividend payout ratio (DPR) is 56.25%.
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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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