Northern Trust Corp lessened its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,560,701 shares of the savings and loans company’s stock after selling 17,497 shares during the period. Northern Trust Corp owned 1.64% of Investors Bancorp worth $50,853,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Investors Bancorp by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the savings and loans company’s stock valued at $607,000 after buying an additional 3,357 shares in the last quarter. LPL Financial LLC raised its position in shares of Investors Bancorp by 11.6% in the 2nd quarter. LPL Financial LLC now owns 20,259 shares of the savings and loans company’s stock worth $226,000 after purchasing an additional 2,112 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Investors Bancorp by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,269,716 shares of the savings and loans company’s stock worth $25,308,000 after purchasing an additional 9,016 shares during the last quarter. Jacobs Asset Management LLC purchased a new position in shares of Investors Bancorp in the 2nd quarter worth about $7,453,000. Finally, Context BH Capital Management LP raised its position in shares of Investors Bancorp by 8.9% in the 2nd quarter. Context BH Capital Management LP now owns 488,696 shares of the savings and loans company’s stock worth $5,449,000 after purchasing an additional 39,800 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.
Several equities analysts have recently issued reports on ISBC shares. Janney Montgomery Scott raised Investors Bancorp from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $13.16.
NASDAQ:ISBC traded up $0.04 during mid-day trading on Thursday, reaching $11.60. The company’s stock had a trading volume of 17,478 shares, compared to its average volume of 1,141,269. Investors Bancorp Inc has a 12-month low of $9.94 and a 12-month high of $12.91. The firm’s fifty day moving average price is $11.11 and its two-hundred day moving average price is $11.36. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.14. The stock has a market cap of $3.20 billion, a P/E ratio of 14.37, a PEG ratio of 1.30 and a beta of 0.93.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Investors Bancorp had a return on equity of 7.05% and a net margin of 17.85%. The business had revenue of $166.15 million during the quarter, compared to analyst estimates of $176.16 million. During the same quarter in the previous year, the firm earned $0.20 EPS. Analysts predict that Investors Bancorp Inc will post 0.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, August 8th. Investors Bancorp’s dividend payout ratio (DPR) is 54.32%.
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.
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