Palisade Capital Management LLC NJ Holds Stake in Investors Bancorp, Inc. (NASDAQ:ISBC)
Palisade Capital Management LLC NJ continued to hold its position in Investors Bancorp, Inc. (NASDAQ:ISBC) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,000 shares of the savings and loans company’s stock at the end of the second quarter. Palisade Capital Management LLC NJ’s holdings in Investors Bancorp were worth $200,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ISBC. World Asset Management Inc raised its position 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 valued at $157,000 after buying an additional 72 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Investors Bancorp during the first quarter valued at about $163,000. TFS Capital LLC acquired a new position in Investors Bancorp during the first quarter valued at about $164,000. Bronfman E.L. Rothschild L.P. raised its position 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 valued at $168,000 after buying an additional 1,735 shares in the last quarter. Finally, US Bancorp DE raised its position in Investors Bancorp by 2.7% in the second quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock valued at $189,000 after buying an additional 374 shares in the last quarter. 78.06% of the stock is owned by institutional investors.
Investors Bancorp, Inc. (NASDAQ ISBC) opened at 13.02 on Friday. The firm’s 50-day moving average price is $13.21 and its 200 day moving average price is $13.85. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 20.31 and a beta of 0.70. Investors Bancorp, Inc. has a one year low of $11.11 and a one year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. The company had revenue of $176.38 million during the quarter, compared to the consensus estimate of $179.25 million. During the same period last year, the firm posted $0.15 EPS. On average, equities research analysts expect that Investors Bancorp, Inc. will post $0.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, August 8th. Investors Bancorp’s dividend payout ratio (DPR) is presently 50.79%.
ISBC has been the subject of several recent analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a report on Thursday, August 3rd. Stephens set a $16.00 target price on Investors Bancorp and gave the company a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 target price on shares of Investors Bancorp in a report on Friday, July 7th. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Deutsche Bank AG reduced their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.21.
In other Investors Bancorp news, VP Paul Kalamaras sold 120,000 shares of Investors Bancorp stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the sale, the vice president now owns 725,827 shares of the company’s stock, valued at approximately $9,863,988.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.96% of the company’s stock.
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.
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