According to Zacks, “Investors Bancorp, Inc. operates as the holding company for Investors Savings Bank, which provides a range of banking services in the United States. The company generates deposits and originates loans. The company operates from its corporate headquarters in Short Hills, New Jersey, and fifty-three branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New Jersey. The Bank is engaged 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. It originates mortgage loans secured by one-to four-family residential real estate and consumer loans, the majority of which are home equity loans and home equity lines of credit. “
Separately, Janney Montgomery Scott raised shares of Investors Bancorp from a neutral rating to a buy rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Investors Bancorp presently has a consensus rating of Hold and an average price target of $13.16.
NASDAQ ISBC traded up $0.14 during trading hours on Thursday, reaching $11.57. 63,739 shares of the company’s stock traded hands, compared to its average volume of 1,013,642. Investors Bancorp has a 52-week low of $9.94 and a 52-week high of $12.91. The firm has a market cap of $3.11 billion, a PE ratio of 14.25, a PEG ratio of 1.27 and a beta of 0.93. The firm has a 50-day simple moving average of $11.07 and a 200 day simple moving average of $11.40. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.25 and a quick ratio of 1.25.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.05%. The company had revenue of $166.15 million during the quarter, compared to analysts’ expectations of $176.16 million. During the same period last year, the company posted $0.20 EPS. Sell-side analysts forecast that Investors Bancorp will post 0.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.11 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.44 annualized dividend and a yield of 3.80%. Investors Bancorp’s dividend payout ratio (DPR) is presently 54.32%.
In other Investors Bancorp news, CFO P. Sean Burke sold 20,000 shares of Investors Bancorp stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $11.04, for a total value of $220,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Albanese sold 35,302 shares of Investors Bancorp stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $11.14, for a total transaction of $393,264.28. The disclosure for this sale can be found here. 3.49% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of Investors Bancorp by 157.6% during the first quarter. JPMorgan Chase & Co. now owns 4,713,564 shares of the savings and loans company’s stock valued at $55,856,000 after purchasing an additional 2,883,477 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Investors Bancorp during the second quarter valued at approximately $14,545,000. Dimensional Fund Advisors LP raised its holdings in shares of Investors Bancorp by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock valued at $99,581,000 after purchasing an additional 1,082,081 shares during the last quarter. Rothschild & Co. Asset Management US Inc. raised its holdings in shares of Investors Bancorp by 227.3% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,165,887 shares of the savings and loans company’s stock valued at $13,000,000 after purchasing an additional 809,678 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Investors Bancorp by 144.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,366,751 shares of the savings and loans company’s stock valued at $15,239,000 after purchasing an additional 808,610 shares during the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.
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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