Investors Bancorp Inc. (ISBC) Sees Strong Trading Volume
Shares of Investors Bancorp Inc. (NASDAQ:ISBC) saw strong trading volume on Friday . 3,467,774 shares were traded during mid-day trading, an increase of 5% from the previous session’s volume of 3,315,588 shares.The stock last traded at $11.51 and had previously closed at $11.50.
A number of analysts have recently commented on the company. Zacks Investment Research cut Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $12.00 price target on shares of Investors Bancorp in a research note on Sunday, March 20th. Finally, Compass Point raised Investors Bancorp from a “sell” rating to a “neutral” rating and upped their price target for the company from $10.50 to $11.50 in a research note on Wednesday, May 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Investors Bancorp has a consensus rating of “Hold” and a consensus target price of $12.90.
The stock’s 50-day moving average is $11.45 and its 200 day moving average is $11.55. The firm has a market capitalization of $3.58 billion and a price-to-earnings ratio of 20.21.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. During the same period last year, the business earned $0.12 earnings per share. Equities research analysts anticipate that Investors Bancorp Inc. will post $0.58 earnings per share for the current fiscal year.
In related news, Director Michele N. Siekerka sold 25,407 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $11.57, for a total value of $293,958.99. Following the sale, the director now directly owns 150,616 shares of the company’s stock, valued at $1,742,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Several hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in shares of Investors Bancorp by 25.7% in the fourth quarter. ProShare Advisors LLC now owns 121,911 shares of the company’s stock worth $1,517,000 after buying an additional 24,914 shares during the last quarter. Napier Park Global Capital US LP raised its stake in shares of Investors Bancorp by 45.0% in the fourth quarter. Napier Park Global Capital US LP now owns 151,480 shares of the company’s stock worth $1,884,000 after buying an additional 47,000 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Investors Bancorp by 26.2% in the fourth quarter. Teacher Retirement System of Texas now owns 428,367 shares of the company’s stock worth $5,329,000 after buying an additional 88,910 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Investors Bancorp by 43.3% in the fourth quarter. Neuberger Berman Group LLC now owns 437,684 shares of the company’s stock worth $5,445,000 after buying an additional 132,297 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Investors Bancorp by 2.2% in the fourth quarter. New York State Common Retirement Fund now owns 440,403 shares of the company’s stock worth $5,479,000 after buying an additional 9,300 shares during the last quarter.
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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