Connable Office Inc. lifted its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,383 shares of the savings and loans company’s stock after buying an additional 1,613 shares during the period. Connable Office Inc.’s holdings in Investors Bancorp were worth $326,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Comerica Bank increased its position in Investors Bancorp by 11.2% during the 3rd quarter. Comerica Bank now owns 123,651 shares of the savings and loans company’s stock valued at $1,332,000 after purchasing an additional 12,501 shares during the period. First Pacific Advisors LP bought a new position in Investors Bancorp during the 3rd quarter valued at $11,487,000. MetLife Investment Advisors LLC lifted its stake in Investors Bancorp by 52.6% during the 3rd quarter. MetLife Investment Advisors LLC now owns 173,484 shares of the savings and loans company’s stock valued at $2,129,000 after acquiring an additional 59,781 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Investors Bancorp by 42.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,306,098 shares of the savings and loans company’s stock worth $40,566,000 after purchasing an additional 985,609 shares during the period. Finally, HRT Financial LLC bought a new stake in shares of Investors Bancorp during the 3rd quarter worth $226,000. 59.51% of the stock is owned by institutional investors and hedge funds.
In other Investors Bancorp news, Director Doreen R. Byrnes sold 30,000 shares of Investors Bancorp stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $12.74, for a total transaction of $382,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $10.28, for a total value of $51,400.00. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by company insiders.
ISBC stock opened at $12.59 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.31 and a beta of 0.92. Investors Bancorp Inc has a fifty-two week low of $9.94 and a fifty-two week high of $14.41.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $148.51 million during the quarter, compared to analysts’ expectations of $175.20 million. Investors Bancorp had a return on equity of 7.50% and a net margin of 20.70%. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities analysts predict that Investors Bancorp Inc will post 0.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 25th. Stockholders of record on Monday, February 11th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, February 8th. Investors Bancorp’s payout ratio is 54.32%.
Several brokerages recently weighed in on ISBC. Barclays reissued a “hold” rating and issued a $14.00 price objective on shares of Investors Bancorp in a report on Friday, January 11th. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Piper Jaffray Companies upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $12.50 to $13.50 in a research report on Friday, February 1st. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, January 18th. Finally, Wells Fargo & Co upgraded Investors Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $15.00 in a research report on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.88.
TRADEMARK VIOLATION NOTICE: This story was first reported by Zolmax and is the property of of Zolmax. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://zolmax.com/investing/connable-office-inc-acquires-1613-shares-of-investors-bancorp-inc-isbc/2941818.html.
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.
Recommended Story: Hedge Funds – How They Work For Investors
Receive News & Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.