Nationwide Fund Advisors boosted its stake in Investors Bancorp Inc. (NASDAQ:ISBC) by 19.4% during the second quarter, Holdings Channel reports. The firm owned 275,312 shares of the company’s stock after buying an additional 44,787 shares during the period. Nationwide Fund Advisors owned 0.09% of Investors Bancorp worth $3,050,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Tradition Capital Management LLC bought a new stake in shares of Investors Bancorp during the second quarter valued at approximately $110,000. CHICAGO TRUST Co NA bought a new stake in shares of Investors Bancorp during the second quarter valued at approximately $127,000. Huntington Asset Advisors Inc. bought a new stake in shares of Investors Bancorp during the first quarter valued at approximately $150,000. GSA Capital Partners LLP bought a new stake in shares of Investors Bancorp during the second quarter valued at approximately $183,000. Finally, M&T Bank Corp boosted its stake in shares of Investors Bancorp by 36.2% in the second quarter. M&T Bank Corp now owns 16,629 shares of the company’s stock valued at $184,000 after buying an additional 4,419 shares during the last quarter. Institutional investors own 76.67% of the company’s stock.
Investors Bancorp Inc. (NASDAQ:ISBC) traded down 0.17% during trading on Friday, hitting $11.92. The company’s stock had a trading volume of 1,577,736 shares. Investors Bancorp Inc. has a 12 month low of $10.67 and a 12 month high of $13.13. The firm has a market cap of $3.58 billion, a P/E ratio of 20.55 and a beta of 0.70. The firm has a 50 day moving average of $11.96 and a 200 day moving average of $11.60.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Investors Bancorp had a return on equity of 5.44% and a net margin of 22.58%. During the same quarter in the previous year, the business posted $0.14 EPS. Equities research analysts predict that Investors Bancorp Inc. will post $0.59 earnings per share for the current year.
Several brokerages recently commented on ISBC. Zacks Investment Research cut Investors Bancorp from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Piper Jaffray Cos. upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $12.70.
In other Investors Bancorp news, insider Kevin Cummings sold 997,499 shares of Investors Bancorp stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $12.11, for a total value of $12,079,712.89. Following the transaction, the insider now directly owns 2,749,061 shares of the company’s stock, valued at approximately $33,291,128.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doreen R. Byrnes sold 40,000 shares of Investors Bancorp stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $11.71, for a total value of $468,400.00. Following the completion of the transaction, the director now directly owns 221,263 shares in the company, valued at $2,590,989.73. The disclosure for this sale can be found here. Corporate insiders own 3.44% of the company’s stock.
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.
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