Investors Bancorp Inc. (ISBC) Stock Price Up 1.7%
Investors Bancorp Inc. (NASDAQ:ISBC) shares rose 1.7% on Wednesday . The company traded as high as $11.54 and last traded at $11.48, with a volume of 2,034,824 shares changing hands. The stock had previously closed at $11.29.
A number of analysts recently issued reports on ISBC shares. Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Compass Point upgraded Investors Bancorp from a “sell” rating to a “neutral” rating and raised their price target for the stock from $10.50 to $11.50 in a research report on Wednesday, May 4th. Finally, Piper Jaffray Cos. upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $12.63.
The firm has a 50 day moving average of $11.29 and a 200-day moving average of $11.48. The firm has a market capitalization of $3.49 billion and a price-to-earnings ratio of 20.05.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. During the same period last year, the company earned $0.14 EPS. Analysts predict that Investors Bancorp Inc. will post $0.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Wednesday, August 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend 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. Dimensional Fund Advisors LP increased its stake in shares of Investors Bancorp Inc. (NASDAQ:ISBC) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,283,553 shares of the company’s stock after buying an additional 525,533 shares during the period. Dimensional Fund Advisors LP owned approximately 1.95% of Investors Bancorp worth $78,170,000 at the end of the most recent 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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