Alliancebernstein L.P. Raises Position in Investors Bancorp, Inc. (ISBC)
Alliancebernstein L.P. increased its position in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 16.9% during the first quarter, Holdings Channel reports. The institutional investor owned 777,924 shares of the savings and loans company’s stock after buying an additional 112,225 shares during the period. Alliancebernstein L.P.’s holdings in Investors Bancorp were worth $11,187,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in ISBC. World Asset Management Inc boosted its stake in Investors Bancorp by 0.7% in the first quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock worth $157,000 after buying an additional 72 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in Investors Bancorp during the fourth quarter worth about $162,000. TFS Capital LLC bought a new stake in Investors Bancorp during the first quarter worth about $164,000. Bronfman E.L. Rothschild L.P. boosted its stake in Investors Bancorp by 17.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock worth $168,000 after buying an additional 1,735 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Investors Bancorp by 4.1% in the first quarter. US Bancorp DE now owns 13,703 shares of the savings and loans company’s stock worth $198,000 after buying an additional 546 shares in the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Investors Bancorp, Inc. (NASDAQ ISBC) traded down 0.851% during midday trading on Tuesday, reaching $13.395. 82,935 shares of the company’s stock traded hands. The company has a market capitalization of $3.99 billion, a PE ratio of 20.295 and a beta of 0.69. Investors Bancorp, Inc. has a 52 week low of $10.67 and a 52 week high of $15.11. The stock’s 50 day moving average is $13.52 and its 200-day moving average is $14.06.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, April 27th. The savings and loans company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $176.82 million for the quarter, compared to the consensus estimate of $175.48 million. Investors Bancorp had a return on equity of 5.95% and a net margin of 21.92%. During the same period last year, the business posted $0.14 EPS. On average, analysts forecast that Investors Bancorp, Inc. will post $0.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Wednesday, May 10th were issued a $0.08 dividend. The ex-dividend date was Monday, May 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.37%. Investors Bancorp’s dividend payout ratio (DPR) is 50.00%.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/06/20/alliancebernstein-l-p-raises-position-in-investors-bancorp-inc-isbc.html.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of 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 Wednesday, April 5th. Deutsche Bank AG lowered their target price on shares of Investors Bancorp from $15.00 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Keefe, Bruyette & Woods set a $16.00 target price on shares of Investors Bancorp and gave the stock a “buy” rating in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Investors Bancorp currently has an average rating of “Hold” and an average target price of $14.50.
In other news, VP Paul Kalamaras sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total value of $1,630,800.00. Following the transaction, the vice president now directly owns 725,827 shares in the company, valued at approximately $9,863,988.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Doreen R. Byrnes sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $13.67, for a total value of $546,800.00. Following the completion of the transaction, the director now owns 169,663 shares in the company, valued at $2,319,293.21. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
About Investors Bancorp
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.
Want to see what other hedge funds are holding ISBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investors Bancorp, Inc. (NASDAQ:ISBC).
Receive News & Ratings for Investors Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.