Schwab Charles Investment Management Inc. Purchases 103,243 Shares of Investors Bancorp Inc (ISBC)
Schwab Charles Investment Management Inc. grew its position in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 5.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,058,542 shares of the savings and loans company’s stock after buying an additional 103,243 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Investors Bancorp were worth $26,329,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ISBC. Citigroup Inc. increased its holdings in shares of Investors Bancorp by 31,589.6% during the first quarter. Citigroup Inc. now owns 1,909,618 shares of the savings and loans company’s stock valued at $26,048,000 after acquiring an additional 1,903,592 shares in the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Investors Bancorp during the first quarter valued at approximately $17,667,000. BNP Paribas Arbitrage SA increased its holdings in shares of Investors Bancorp by 226.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,522,428 shares of the savings and loans company’s stock valued at $20,766,000 after acquiring an additional 1,055,829 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Investors Bancorp during the first quarter valued at approximately $12,694,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Investors Bancorp by 53.2% during the first quarter. Wells Fargo & Company MN now owns 1,656,456 shares of the savings and loans company’s stock valued at $22,593,000 after acquiring an additional 575,311 shares in the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Shares of Investors Bancorp stock opened at $12.79 on Friday. Investors Bancorp Inc has a 12-month low of $12.30 and a 12-month high of $14.69. The firm has a market cap of $4.61 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.39 and a beta of 0.58. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.66.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were given a $0.09 dividend. The ex-dividend date was Thursday, August 9th. This represents a $0.36 annualized dividend and a yield of 2.81%. Investors Bancorp’s dividend payout ratio is currently 58.06%.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $12.70, for a total value of $63,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.51% of the stock is currently owned by insiders.
ISBC has been the subject of several recent research reports. Stephens reiterated a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a report on Thursday, August 16th. Royal Bank of Canada reiterated a “buy” rating and set a $14.00 price target on shares of Investors Bancorp in a report on Friday, July 27th. BidaskClub upgraded Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Finally, ValuEngine downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.79.
About Investors Bancorp
Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
Recommended Story: Stop Order
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.