Sheets Smith Wealth Management trimmed its position in Investors Bancorp Inc (NASDAQ:ISBC) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,722 shares of the savings and loans company’s stock after selling 971 shares during the period. Sheets Smith Wealth Management’s holdings in Investors Bancorp were worth $309,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Cerebellum GP LLC raised its position in shares of Investors Bancorp by 73.5% in the 4th quarter. Cerebellum GP LLC now owns 23,980 shares of the savings and loans company’s stock valued at $249,000 after acquiring an additional 10,157 shares during the period. Paradigm Asset Management Co. LLC increased its stake in Investors Bancorp by 10.4% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 29,600 shares of the savings and loans company’s stock worth $363,000 after purchasing an additional 2,800 shares in the last quarter. Vanguard Group Inc increased its stake in Investors Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 22,577,234 shares of the savings and loans company’s stock worth $277,023,000 after purchasing an additional 194,524 shares in the last quarter. Federated Investors Inc. PA increased its stake in Investors Bancorp by 29.4% during the 3rd quarter. Federated Investors Inc. PA now owns 1,056,370 shares of the savings and loans company’s stock worth $12,961,000 after purchasing an additional 239,759 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Investors Bancorp during the 3rd quarter worth approximately $22,623,000. Institutional investors and hedge funds own 60.91% of the company’s stock.
ISBC has been the subject of a number of research reports. BidaskClub cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Zacks Investment Research cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Barclays reissued a “hold” rating and set a $14.00 target price on shares of Investors Bancorp in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.33.
In other news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $10.28, for a total transaction of $51,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.51% of the stock is owned by company insiders.
NASDAQ ISBC opened at $11.33 on Friday. Investors Bancorp Inc has a 52-week low of $9.94 and a 52-week high of $14.69. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $4.05 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $177.21 million during the quarter, compared to analysts’ expectations of $181.19 million. Investors Bancorp had a return on equity of 7.05% and a net margin of 16.73%. As a group, sell-side analysts expect that Investors Bancorp Inc will post 0.77 earnings per share for the current year.
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Investors Bancorp Profile
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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