Los Angeles Capital Management & Equity Research Inc. Decreases Position in Investors Bancorp, Inc. (ISBC)
Los Angeles Capital Management & Equity Research Inc. reduced its stake in Investors Bancorp, Inc. (NASDAQ:ISBC) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,655 shares of the savings and loans company’s stock after selling 22,826 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of Investors Bancorp worth $3,549,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Investors Bancorp by 7.1% in the 1st quarter. Wells Fargo & Company MN now owns 530,233 shares of the savings and loans company’s stock worth $7,625,000 after purchasing an additional 35,081 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Investors Bancorp by 17.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock worth $168,000 after purchasing an additional 1,735 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Investors Bancorp by 80.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock worth $118,659,000 after purchasing an additional 3,950,175 shares during the period. Comerica Bank increased its stake in Investors Bancorp by 1.3% in the 2nd quarter. Comerica Bank now owns 449,377 shares of the savings and loans company’s stock worth $5,860,000 after purchasing an additional 5,864 shares during the period. Finally, TFS Capital LLC purchased a new position in Investors Bancorp in the 1st quarter worth approximately $164,000. 74.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Investors Bancorp, Inc. (ISBC) opened at 13.32 on Thursday. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 20.78 and a beta of 0.70. The company’s 50 day moving average price is $13.11 and its 200 day moving average price is $13.61. Investors Bancorp, Inc. has a 52-week low of $11.58 and a 52-week high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $179.25 million. Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. During the same quarter in the previous year, the company posted $0.15 earnings per share. On average, analysts predict that Investors Bancorp, Inc. will post $0.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.32 annualized dividend and a yield of 2.40%. Investors Bancorp’s payout ratio is currently 50.79%.
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A number of equities analysts have commented on ISBC shares. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reissued a “buy” rating and set a $16.00 target price on shares of Investors Bancorp in a research note on Friday, July 7th. Stephens started coverage on Investors Bancorp in a research note on Thursday, July 13th. They set an “overweight” rating and a $16.00 target price on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $15.00 target price on shares of Investors Bancorp in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Investors Bancorp has an average rating of “Hold” and an average price target of $15.21.
In other Investors Bancorp news, Director Brian D. Dittenhafer sold 22,500 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $13.05, for a total transaction of $293,625.00. Following the transaction, the director now directly owns 350,388 shares in the company, valued at approximately $4,572,563.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Cashill sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total value of $327,000.00. Following the transaction, the director now owns 756,902 shares in the company, valued at $9,900,278.16. 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.
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