Staley Capital Advisers Inc. lessened its stake in Investors Bank (NASDAQ:ISBC) by 55.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the savings and loans company’s stock after selling 12,200 shares during the period. Staley Capital Advisers Inc.’s holdings in Investors Bank were worth $136,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado bought a new position in Investors Bank in the 4th quarter worth approximately $117,000. Cerebellum GP LLC bought a new stake in shares of Investors Bank during the 4th quarter valued at $125,000. Raymond James & Associates bought a new stake in shares of Investors Bank during the 4th quarter valued at $143,000. Gotham Asset Management LLC bought a new stake in shares of Investors Bank during the 4th quarter valued at $145,000. Finally, Granite Springs Asset Management LLC bought a new stake in shares of Investors Bank during the 1st quarter valued at $152,000. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Several brokerages have commented on ISBC. Zacks Investment Research cut shares of Investors Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 16th. BidaskClub cut shares of Investors Bank from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Piper Jaffray reiterated a “hold” rating and set a $15.50 target price on shares of Investors Bank in a research report on Monday, January 29th. Sandler O’Neill reiterated a “hold” rating and set a $15.00 target price on shares of Investors Bank in a research report on Friday, January 26th. Finally, Barclays dropped their target price on shares of Investors Bank from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $15.50.
Investors Bank (NASDAQ:ISBC) last announced its quarterly earnings results on Thursday, April 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Investors Bank had a net margin of 14.78% and a return on equity of 6.12%. The company had revenue of $181.59 million during the quarter, compared to analyst estimates of $183.58 million. equities analysts expect that Investors Bank will post 0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, May 9th. Investors Bank’s dividend payout ratio (DPR) is 58.06%.
In related news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $13.58, for a total value of $67,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO P. Sean Burke sold 50,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $14.17, for a total transaction of $708,500.00. The disclosure for this sale can be found here. 3.51% of the stock is owned by insiders.
Investors Bank Company 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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