First Trust Advisors LP decreased its holdings in Investors Bancorp Inc (NASDAQ:ISBC) by 18.0% in the 1st quarter, HoldingsChannel reports. The firm owned 307,335 shares of the savings and loans company’s stock after selling 67,405 shares during the period. First Trust Advisors LP’s holdings in Investors Bancorp were worth $3,642,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Enlightenment Research LLC purchased a new position in shares of Investors Bancorp in the fourth quarter worth about $35,000. Toronto Dominion Bank grew its stake in Investors Bancorp by 18,776.7% during the fourth quarter. Toronto Dominion Bank now owns 5,663 shares of the savings and loans company’s stock valued at $59,000 after acquiring an additional 5,633 shares in the last quarter. Dean Capital Investments Management LLC purchased a new position in Investors Bancorp during the fourth quarter valued at approximately $112,000. Ffcm LLC grew its stake in Investors Bancorp by 1,771.4% during the fourth quarter. Ffcm LLC now owns 12,576 shares of the savings and loans company’s stock valued at $131,000 after acquiring an additional 11,904 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Investors Bancorp during the fourth quarter valued at approximately $131,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
Shares of NASDAQ:ISBC opened at $10.60 on Friday. The company has a market cap of $2.97 billion, a P/E ratio of 13.09, a PEG ratio of 1.19 and a beta of 0.93. Investors Bancorp Inc has a 12 month low of $9.94 and a 12 month high of $13.56. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.24 and a quick ratio of 1.23.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $173.87 million for the quarter, compared to analysts’ expectations of $181.65 million. Investors Bancorp had a net margin of 19.18% and a return on equity of 7.30%. During the same period in the prior year, the firm posted $0.20 EPS. As a group, equities research analysts anticipate that Investors Bancorp Inc will post 0.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.44 annualized dividend and a yield of 4.15%. Investors Bancorp’s dividend payout ratio is currently 54.32%.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $11.91, for a total value of $59,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.49% of the stock is owned by insiders.
Several brokerages recently commented on ISBC. ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Finally, Zacks Investment Research cut shares of Investors Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.61.
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Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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