Bank of America Corp DE cut its holdings in Investors Bancorp Inc (NASDAQ:ISBC) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,435,258 shares of the savings and loans company’s stock after selling 76,652 shares during the period. Bank of America Corp DE owned about 0.89% of Investors Bancorp worth $29,016,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ISBC. Millennium Management LLC boosted its holdings in shares of Investors Bancorp by 297.3% in 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 buying an additional 1,270,561 shares during the period. Goldman Sachs Group Inc. lifted its position in Investors Bancorp by 44.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,607,968 shares of the savings and loans company’s stock valued at $31,074,000 after purchasing an additional 802,733 shares during the last quarter. Victory Capital Management Inc. lifted its position in Investors Bancorp by 1,545.9% in 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 purchasing an additional 690,483 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Investors Bancorp in the 4th quarter valued at about $4,660,000. Finally, State Street Corp lifted its position in Investors Bancorp by 5.2% in the 4th quarter. State Street Corp now owns 7,872,736 shares of the savings and loans company’s stock valued at $93,804,000 after purchasing an additional 388,433 shares during the last quarter. 69.91% of the stock is owned by institutional investors and hedge funds.
ISBC has been the topic of several recent research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research report on Monday, February 3rd. Compass Point upgraded shares of Investors Bancorp from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Thursday, January 30th. BidaskClub upgraded shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 25th. Zacks Investment Research downgraded shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.33.
Shares of NASDAQ:ISBC opened at $8.30 on Friday. The company has a market cap of $2.10 billion, a PE ratio of 11.07 and a beta of 0.96. The company’s 50-day moving average price is $10.39 and its 200 day moving average price is $11.50. Investors Bancorp Inc has a fifty-two week low of $6.31 and a fifty-two week high of $12.74. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.29.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Wednesday, January 29th. The savings and loans company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Investors Bancorp had a return on equity of 7.11% and a net margin of 17.88%. The company had revenue of $189.23 million for the quarter, compared to the consensus estimate of $180.70 million. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, equities analysts anticipate that Investors Bancorp Inc will post 0.91 EPS for the current year.
About Investors Bancorp
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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