MUFG Securities EMEA plc acquired a new position in Investors Bancorp Inc (NASDAQ:ISBC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 79,000 shares of the savings and loans company’s stock, valued at approximately $941,000.
Several other institutional investors and hedge funds have also recently modified their holdings of ISBC. State Street Corp grew its position in Investors Bancorp by 5.2% during the fourth quarter. State Street Corp now owns 7,872,736 shares of the savings and loans company’s stock valued at $93,804,000 after buying an additional 388,433 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Investors Bancorp by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,378,916 shares of the savings and loans company’s stock valued at $28,345,000 after acquiring an additional 45,422 shares during the period. Millennium Management LLC grew its position in shares of Investors Bancorp by 297.3% during the 3rd quarter. Millennium Management LLC now owns 1,697,862 shares of the savings and loans company’s stock valued at $19,287,000 after acquiring an additional 1,270,561 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Investors Bancorp by 32.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 973,544 shares of the savings and loans company’s stock valued at $11,059,000 after acquiring an additional 238,243 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Investors Bancorp by 1,545.9% during the 4th quarter. Victory Capital Management Inc. now owns 735,149 shares of the savings and loans company’s stock valued at $8,884,000 after acquiring an additional 690,483 shares during the period. 62.18% of the stock is owned by institutional investors.
Several analysts have issued reports on ISBC shares. Compass Point raised Investors Bancorp from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, January 30th. Royal Bank of Canada reiterated a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research note on Monday, February 3rd. BidaskClub upgraded Investors Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 25th. Finally, ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $14.33.
Shares of ISBC traded down $0.25 during mid-day trading on Friday, reaching $11.23. The stock had a trading volume of 100,661 shares, compared to its average volume of 3,000,609. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 14.97 and a beta of 0.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.23 and a current ratio of 1.22. The business has a fifty day moving average of $11.68 and a 200 day moving average of $11.73. Investors Bancorp Inc has a 12 month low of $10.05 and a 12 month high of $12.74.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, January 29th. The savings and loans company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $180.70 million. Investors Bancorp had a return on equity of 7.11% and a net margin of 17.88%. During the same period in the prior year, the company posted $0.22 EPS. On average, research analysts forecast that Investors Bancorp Inc will post 0.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Monday, February 10th were paid a $0.12 dividend. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, February 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.27%. Investors Bancorp’s dividend payout ratio is 62.34%.
Investors Bancorp 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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