Mendon Capital Advisors Corp Makes New Investment in Investors Bancorp Inc (NASDAQ:ISBC)

Mendon Capital Advisors Corp purchased a new position in shares of Investors Bancorp Inc (NASDAQ:ISBC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 95,000 shares of the savings and loans company’s stock, valued at approximately $1,059,000.

A number of other large investors have also modified their holdings of ISBC. JPMorgan Chase & Co. lifted its position in Investors Bancorp by 157.6% during the 1st quarter. JPMorgan Chase & Co. now owns 4,713,564 shares of the savings and loans company’s stock worth $55,856,000 after buying an additional 2,883,477 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Investors Bancorp by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock worth $99,581,000 after purchasing an additional 1,082,081 shares during the last quarter. Rothschild & Co. Asset Management US Inc. increased its stake in shares of Investors Bancorp by 227.3% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 1,165,887 shares of the savings and loans company’s stock worth $13,000,000 after purchasing an additional 809,678 shares during the last quarter. Jacobs Asset Management LLC acquired a new position in shares of Investors Bancorp during the 2nd quarter worth about $7,453,000. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Investors Bancorp during the 2nd quarter worth about $6,606,000. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO P. Sean Burke sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $11.04, for a total value of $220,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert C. Albanese sold 35,302 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $11.14, for a total transaction of $393,264.28. The disclosure for this sale can be found here. 3.49% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on ISBC. Janney Montgomery Scott upgraded shares of Investors Bancorp from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.16.

Shares of Investors Bancorp stock traded up $0.09 during trading on Friday, hitting $11.52. 87,657 shares of the stock were exchanged, compared to its average volume of 1,013,642. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93. The company has a fifty day moving average price of $11.07 and a 200-day moving average price of $11.40. Investors Bancorp Inc has a 1-year low of $9.94 and a 1-year high of $12.91. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.14.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $166.15 million for the quarter, compared to analyst estimates of $176.16 million. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.05%. During the same period in the previous year, the business earned $0.20 EPS. Equities research analysts forecast that Investors Bancorp Inc will post 0.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.44 annualized dividend and a dividend yield of 3.82%. Investors Bancorp’s dividend payout ratio is presently 54.32%.

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

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