BlueMountain Capital Management LLC increased its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,882 shares of the savings and loans company’s stock after purchasing an additional 12,647 shares during the period. BlueMountain Capital Management LLC owned approximately 0.07% of Investors Bancorp worth $3,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. increased its holdings in Investors Bancorp by 4.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 21,444,804 shares of the savings and loans company’s stock valued at $263,128,000 after buying an additional 911,778 shares in the last quarter. BlackRock Inc. increased its holdings in Investors Bancorp by 0.5% in the third quarter. BlackRock Inc. now owns 18,429,293 shares of the savings and loans company’s stock valued at $226,128,000 after buying an additional 92,885 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Investors Bancorp by 4.5% in the third quarter. Dimensional Fund Advisors LP now owns 8,493,071 shares of the savings and loans company’s stock valued at $104,210,000 after buying an additional 366,962 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Investors Bancorp by 7.7% in the third quarter. Janus Henderson Group PLC now owns 4,246,011 shares of the savings and loans company’s stock valued at $52,099,000 after buying an additional 303,070 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in Investors Bancorp by 42.5% in the third quarter. Thompson Siegel & Walmsley LLC now owns 3,306,098 shares of the savings and loans company’s stock valued at $40,566,000 after buying an additional 985,609 shares in the last quarter. 60.91% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $12.29, for a total value of $61,450.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.51% of the stock is owned by company insiders.
ISBC has been the subject of a number of recent analyst reports. ValuEngine cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Zacks Investment Research cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, BidaskClub cut shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.79.
Shares of NASDAQ ISBC opened at $10.95 on Tuesday. Investors Bancorp Inc has a 52-week low of $10.27 and a 52-week high of $14.69. The stock has a market capitalization of $3.99 billion, a PE ratio of 17.66, a P/E/G ratio of 1.20 and a beta of 0.63. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.60.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Investors Bancorp had a net margin of 16.73% and a return on equity of 7.05%. The business had revenue of $177.21 million for the quarter, compared to analyst estimates of $181.19 million. Research analysts predict that Investors Bancorp Inc will post 0.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were given a $0.11 dividend. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, November 8th. This represents a $0.44 annualized dividend and a dividend yield of 4.02%. Investors Bancorp’s dividend payout ratio (DPR) is 70.97%.
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.
Further Reading: Net Asset Value (NAV)
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