Investors Bancorp Inc (ISBC) Holdings Trimmed by Northern Trust Corp

Northern Trust Corp reduced its stake in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,717,610 shares of the savings and loans company’s stock after selling 13,568 shares during the quarter. Northern Trust Corp owned 1.31% of Investors Bancorp worth $60,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ISBC. Millennium Management LLC acquired a new stake in shares of Investors Bancorp in the second quarter valued at approximately $13,344,000. Russell Investments Group Ltd. acquired a new stake in shares of Investors Bancorp in the first quarter valued at approximately $12,694,000. Federated Investors Inc. PA grew its position in shares of Investors Bancorp by 5,310.2% in the second quarter. Federated Investors Inc. PA now owns 816,611 shares of the savings and loans company’s stock valued at $10,444,000 after purchasing an additional 801,517 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Investors Bancorp by 17.6% in the second quarter. Janus Henderson Group PLC now owns 3,942,941 shares of the savings and loans company’s stock valued at $50,430,000 after purchasing an additional 591,211 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Investors Bancorp by 3.0% in the second quarter. BlackRock Inc. now owns 18,336,408 shares of the savings and loans company’s stock valued at $234,523,000 after purchasing an additional 528,918 shares during the last quarter. Institutional investors own 63.40% of the company’s stock.

Shares of ISBC opened at $12.26 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.66. The company has a market cap of $4.41 billion, a P/E ratio of 19.77, a PEG ratio of 1.33 and a beta of 0.58. Investors Bancorp Inc has a 1 year low of $11.96 and a 1 year high of $14.69.

Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $182.78 million for the quarter, compared to the consensus estimate of $180.64 million. Investors Bancorp had a net margin of 16.21% and a return on equity of 6.71%. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, equities analysts predict that Investors Bancorp Inc will post 0.77 EPS for the current year.

Several analysts have recently commented on the stock. ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Zacks Investment Research upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 4th. Stephens reissued a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 16th. BidaskClub downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $14.00 price objective on shares of Investors Bancorp in a research note on Friday, July 27th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.79.

In related news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.51% of the company’s stock.

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.

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Institutional Ownership by Quarter for Investors Bancorp (NASDAQ:ISBC)

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