Investors Bancorp Inc. (ISBC) Sees Large Volume Increase
Investors Bancorp Inc. (NASDAQ:ISBC) saw strong trading volume on Friday . 2,266,654 shares traded hands during mid-day 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 research analysts have recently weighed in on the company. Zacks Investment Research cut Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Piper Jaffray Cos. upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 price target for the company in a research note on Friday. Finally, Compass Point upgraded Investors Bancorp from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $10.50 to $11.50 in a research note on Wednesday, May 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.70.
The company’s 50 day moving average price is $11.31 and its 200-day moving average price is $11.48. The stock has a market capitalization of $3.51 billion and a P/E ratio of 20.12.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities analysts forecast that Investors Bancorp Inc. will post $0.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Wednesday, August 10th will be paid a $0.06 dividend. The ex-dividend date is Monday, August 8th. This represents a $0.24 annualized dividend and a yield of 2.06%.
A hedge fund recently raised its stake in Investors Bancorp stock. Dimensional Fund Advisors LP boosted its stake in Investors Bancorp Inc. (NASDAQ:ISBC) by 9.1% during the fourth quarter, according to its most recent 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 as of its most recent SEC filing.
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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