Investors Bancorp Inc. (ISBC) Stock Price Up 1.7%
Shares of Investors Bancorp Inc. (NASDAQ:ISBC) rose 1.7% during trading on Wednesday . The stock traded as high as $11.54 and last traded at $11.48, with a volume of 2,034,824 shares traded. The stock had previously closed at $11.29.
ISBC has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Compass Point raised shares of Investors Bancorp from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.50 to $11.50 in a research report on Wednesday, May 4th.
The stock’s 50 day moving average is $11.25 and its 200-day moving average is $11.48. The firm has a market capitalization of $3.46 billion and a price-to-earnings ratio of 19.86.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. During the same period in the previous year, the business posted $0.14 earnings per share. On average, analysts forecast that Investors Bancorp Inc. will post $0.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Wednesday, August 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, August 8th.
Other hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Investors Bancorp by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,283,553 shares of the company’s stock valued at $78,170,000 after buying an additional 525,533 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Investors Bancorp by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,442,715 shares of the company’s stock valued at $279,187,000 after buying an additional 404,723 shares during the last quarter. Finally, New York State Common Retirement Fund increased 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 valued at $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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