Moody Aldrich Partners LLC boosted its stake in Investors Bancorp Inc. (NASDAQ:ISBC) by 201.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,305 shares of the company’s stock after buying an additional 152,645 shares during the period. Investors Bancorp accounts for 2.1% of Moody Aldrich Partners LLC’s holdings, making the stock its 5th largest position. Moody Aldrich Partners LLC owned approximately 0.07% of Investors Bancorp worth $2,530,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of ISBC. Massmutual Trust Co. FSB ADV raised its position in shares of Investors Bancorp by 4.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 34,191 shares of the company’s stock valued at $398,000 after buying an additional 1,507 shares during the period. Ngam Advisors L.P. raised its position in Investors Bancorp by 0.6% in the first quarter. Ngam Advisors L.P. now owns 495,457 shares of the company’s stock valued at $5,768,000 after buying an additional 3,066 shares during the period. Diversified Trust Co raised its position in Investors Bancorp by 8.6% in the second quarter. Diversified Trust Co now owns 48,000 shares of the company’s stock valued at $532,000 after buying an additional 3,795 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Investors Bancorp by 1.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 244,568 shares of the company’s stock valued at $2,847,000 after buying an additional 4,076 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Investors Bancorp by 38.5% in the second quarter. State of Alaska Department of Revenue now owns 37,191 shares of the company’s stock valued at $412,000 after buying an additional 10,335 shares during the period. 76.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Investors Bancorp Inc. (NASDAQ:ISBC) traded up 1.00% during mid-day trading on Thursday, hitting $12.10. The stock had a trading volume of 2,284,166 shares. The firm’s 50 day moving average price is $11.74 and its 200-day moving average price is $11.56. The company has a market cap of $3.64 billion, a PE ratio of 20.86 and a beta of 0.79. Investors Bancorp Inc. has a one year low of $10.67 and a one year high of $13.13.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Investors Bancorp had a net margin of 22.58% and a return on equity of 5.44%. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Investors Bancorp Inc. will post $0.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Wednesday, August 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, August 8th. Investors Bancorp’s dividend payout ratio is presently 41.38%.
Several research firms have commented on ISBC. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday, June 29th. Piper Jaffray Cos. raised Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.70.
In related news, VP Paul Kalamaras sold 182,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $11.95, for a total value of $2,174,900.00. Following the completion of the sale, the vice president now directly owns 854,031 shares in the company, valued at $10,205,670.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doreen R. Byrnes sold 20,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $12.01, for a total transaction of $240,200.00. Following the completion of the sale, the director now owns 182,088 shares of the company’s stock, valued at $2,186,876.88. The disclosure for this sale can be found here. 3.44% of the stock is currently owned by corporate insiders.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.