Investors Bancorp Inc. (ISBC) Sees Large Volume Increase
Investors Bancorp Inc. (NASDAQ:ISBC) shares saw unusually-high trading volume on Friday . Approximately 2,266,654 shares were traded during trading, a decline of 7% from the previous session’s volume of 2,434,121 shares.The stock last traded at $11.67 and had previously closed at $11.63.
Several brokerages recently weighed in on ISBC. Piper Jaffray Cos. raised Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Friday. Zacks Investment Research lowered Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Compass Point raised Investors Bancorp from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $10.50 to $11.50 in a research report on Wednesday, May 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.70.
The company has a market cap of $3.51 billion and a P/E ratio of 20.12. The stock’s 50-day moving average is $11.31 and its 200-day moving average is $11.48.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. During the same quarter last year, the firm earned $0.14 EPS. Equities analysts forecast that Investors Bancorp Inc. will post $0.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Wednesday, August 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, August 8th.
A hedge fund recently raised its stake in Investors Bancorp stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Investors Bancorp Inc. (NASDAQ:ISBC) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,586,868 shares of the company’s stock after buying an additional 120,156 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.49% of Investors Bancorp worth $19,741,000 at the end of the most recent reporting period.
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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