Congress Asset Management Co. MA reduced its stake in Investors Bancorp, Inc. (NASDAQ:ISBC) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 255,365 shares of the savings and loans company’s stock after selling 4,485 shares during the quarter. Congress Asset Management Co. MA’s holdings in Investors Bancorp were worth $3,544,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ISBC. Cerebellum GP LLC purchased a new position in shares of Investors Bancorp in the 4th quarter worth about $125,000. Citigroup Inc. boosted its holdings in shares of Investors Bancorp by 45.7% in the 2nd quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock worth $146,000 after buying an additional 3,417 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Investors Bancorp by 17.1% in the 2nd quarter. Gotham Asset Management LLC now owns 13,305 shares of the savings and loans company’s stock worth $178,000 after buying an additional 1,941 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Investors Bancorp in the 3rd quarter worth about $187,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Investors Bancorp in the 2nd quarter worth about $193,000. 79.19% of the stock is currently owned by institutional investors.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total transaction of $69,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.96% of the stock is owned by corporate insiders.
A number of brokerages recently weighed in on ISBC. Barclays cut their price target on shares of Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday. Sandler O’Neill reissued a “hold” rating and issued a $15.00 price target on shares of Investors Bancorp in a report on Friday, January 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $15.50 price target on shares of Investors Bancorp in a report on Monday. BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.50 price objective on shares of Investors Bancorp in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.31.
Shares of Investors Bancorp, Inc. (NASDAQ:ISBC) opened at $13.81 on Friday. The company has a market cap of $4,172.50, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.68. Investors Bancorp, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $15.11. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $182.91 million for the quarter, compared to the consensus estimate of $181.14 million. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.69%. During the same period in the prior year, the firm earned $0.18 earnings per share. equities research analysts anticipate that Investors Bancorp, Inc. will post 0.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, February 8th. Investors Bancorp’s dividend payout ratio (DPR) is presently 81.82%.
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.
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.