Deutsche Bank AG increased its position in Investors Bancorp, Inc. (NASDAQ:ISBC) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,494,290 shares of the savings and loans company’s stock after acquiring an additional 165,602 shares during the period. Deutsche Bank AG’s holdings in Investors Bancorp were worth $20,738,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in Investors Bancorp during the 4th quarter valued at $117,000. Cerebellum GP LLC purchased a new stake in Investors Bancorp during the 4th quarter valued at $125,000. Belpointe Asset Management LLC purchased a new stake in Investors Bancorp during the 3rd quarter valued at $187,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Investors Bancorp by 174.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,007 shares of the savings and loans company’s stock valued at $208,000 after buying an additional 9,546 shares during the last quarter. Finally, Signition LP purchased a new stake in Investors Bancorp during the 4th quarter valued at $232,000. Institutional investors own 80.33% of the company’s stock.
ISBC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Sandler O’Neill reiterated a “hold” rating and set a $15.00 target price on shares of Investors Bancorp in a research note on Friday, January 26th. BidaskClub lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Barclays decreased their target price on shares of Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.50 target price on shares of Investors Bancorp in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Investors Bancorp presently has an average rating of “Hold” and a consensus target price of $15.31.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.71%. The firm had revenue of $182.91 million during the quarter, compared to the consensus estimate of $181.14 million. During the same quarter in the previous year, the firm posted $0.18 EPS. sell-side analysts forecast that Investors Bancorp, Inc. will post 0.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, February 8th. Investors Bancorp’s payout ratio is 81.82%.
In related news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total value of $69,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William V. Cosgrove sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total transaction of $1,338,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,000 shares of company stock valued at $2,116,200. Insiders own 2.96% of the company’s stock.
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Investors Bancorp 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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