Stevens Capital Management LP decreased its position in Investors Bancorp Inc (NASDAQ:ISBC) by 64.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,065 shares of the savings and loans company’s stock after selling 115,503 shares during the period. Stevens Capital Management LP’s holdings in Investors Bancorp were worth $798,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. boosted its holdings in Investors Bancorp by 4.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 21,444,804 shares of the savings and loans company’s stock valued at $263,128,000 after purchasing an additional 911,778 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Investors Bancorp by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,493,071 shares of the savings and loans company’s stock valued at $104,210,000 after purchasing an additional 366,962 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Investors Bancorp in the 3rd quarter valued at $404,000. Staley Capital Advisers Inc. boosted its holdings in Investors Bancorp by 100.0% in the 3rd quarter. Staley Capital Advisers Inc. now owns 20,000 shares of the savings and loans company’s stock valued at $245,000 after purchasing an additional 10,000 shares during the period. Finally, BlackRock Inc. boosted its holdings in Investors Bancorp by 0.5% in the 3rd quarter. BlackRock Inc. now owns 18,429,293 shares of the savings and loans company’s stock valued at $226,128,000 after purchasing an additional 92,885 shares during the period. Hedge funds and other institutional investors own 61.25% of the company’s stock.
In other news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.51% of the company’s stock.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Investors Bancorp had a net margin of 16.73% and a return on equity of 7.05%. The company had revenue of $177.21 million during the quarter, compared to the consensus estimate of $181.19 million. On average, equities analysts expect that Investors Bancorp Inc will post 0.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.11 per share. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, November 8th. Investors Bancorp’s payout ratio is currently 70.97%.
Several research analysts have commented on ISBC shares. Stephens reissued a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a report on Thursday, August 16th. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Finally, BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Investors Bancorp currently has a consensus rating of “Hold” and an average price target of $14.79.
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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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