State Board of Administration of Florida Retirement System held its position in Investors Bancorp, Inc. (NASDAQ:ISBC) during the fourth quarter, Holdings Channel reports. The firm owned 92,807 shares of the company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in Investors Bancorp were worth $1,295,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ISBC. Commerzbank Aktiengesellschaft FI purchased a new position in Investors Bancorp during the fourth quarter worth $162,000. Harbor Advisors LLC purchased a new position in Investors Bancorp during the fourth quarter worth $698,000. Perkins Investment Management LLC increased its position in Investors Bancorp by 377.2% in the third quarter. Perkins Investment Management LLC now owns 4,493,058 shares of the company’s stock worth $53,962,000 after buying an additional 3,551,564 shares during the period. Weiss Asset Management LP purchased a new position in Investors Bancorp during the third quarter worth $236,000. Finally, Citadel Advisors LLC increased its position in Investors Bancorp by 238.4% in the third quarter. Citadel Advisors LLC now owns 222,383 shares of the company’s stock worth $2,671,000 after buying an additional 156,668 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Investors Bancorp (NASDAQ:ISBC)

Shares of Investors Bancorp, Inc. (NASDAQ:ISBC) opened at 14.34 on Tuesday. The stock has a 50 day moving average price of $14.59 and a 200 day moving average price of $13.39. The stock has a market capitalization of $4.25 billion, a P/E ratio of 22.41 and a beta of 0.65. Investors Bancorp, Inc. has a 52 week low of $10.67 and a 52 week high of $15.11.

Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, January 26th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. Investors Bancorp had a return on equity of 5.83% and a net margin of 22.14%. During the same period in the previous year, the firm earned $0.14 EPS. On average, equities research analysts expect that Investors Bancorp, Inc. will post $0.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $0.32 annualized dividend and a dividend yield of 2.23%. Investors Bancorp’s payout ratio is presently 51.61%.

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A number of research firms recently weighed in on ISBC. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, March 7th. Barclays PLC downgraded Investors Bancorp from an “overweight” rating to an “underweight” rating and set a $13.00 price objective for the company. in a research note on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.10.

In related news, Director Brian D. Dittenhafer sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $14.67, for a total value of $366,750.00. Following the sale, the director now directly owns 388,957 shares of the company’s stock, valued at $5,705,999.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Spengler sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $14.54, for a total value of $872,400.00. The disclosure for this sale can be found here. 3.44% of the stock is owned by company insiders.

Investors Bancorp Company Profile

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.

5 Day Chart for NASDAQ:ISBC

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