Investors Bancorp Inc. (ISBC) Sees Strong Trading Volume
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 recently weighed in on the stock. Zacks Investment Research raised shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday, June 29th. Compass Point raised shares of Investors Bancorp from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $10.50 to $11.50 in a research report on Wednesday, May 4th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $12.00 price objective on shares of Investors Bancorp in a research report on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.90.
The company has a 50-day moving average price of $11.46 and a 200 day moving average price of $11.55. The company has a market cap of $3.58 billion and a price-to-earnings ratio of 20.21.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, April 28th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that Investors Bancorp Inc. will post $0.58 EPS for the current year.
In other news, Director Michele N. Siekerka sold 25,407 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $11.57, for a total transaction of $293,958.99. Following the completion of the sale, the director now owns 150,616 shares of the company’s stock, valued at $1,742,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of institutional investors have bought and sold shares of the company. Vanguard Group Inc. raised its position in Investors Bancorp by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,442,715 shares of the company’s stock worth $279,187,000 after buying an additional 404,723 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Investors Bancorp by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,283,553 shares of the company’s stock worth $78,170,000 after buying an additional 525,533 shares during the last quarter. IronBridge Capital Management LP raised its position in Investors Bancorp by 95.6% in the fourth quarter. IronBridge Capital Management LP now owns 1,764,700 shares of the company’s stock worth $21,953,000 after buying an additional 862,290 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Investors Bancorp by 5.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 816,630 shares of the company’s stock worth $10,159,000 after buying an additional 38,868 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Investors Bancorp by 29.3% in the fourth quarter. Nationwide Fund Advisors now owns 608,567 shares of the company’s stock worth $7,571,000 after buying an additional 138,023 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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