United Services Automobile Association Lowers Stake in Investors Bancorp Inc (NASDAQ:ISBC)

United Services Automobile Association cut its position in Investors Bancorp Inc (NASDAQ:ISBC) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,925 shares of the savings and loans company’s stock after selling 2,559 shares during the period. United Services Automobile Association’s holdings in Investors Bancorp were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ISBC. Nuveen Asset Management LLC purchased a new position in Investors Bancorp in the second quarter worth about $14,545,000. Rothschild & Co. Asset Management US Inc. raised its holdings in Investors Bancorp by 227.3% in the second 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 buying an additional 809,678 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Investors Bancorp by 144.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,366,751 shares of the savings and loans company’s stock worth $15,239,000 after buying an additional 808,610 shares during the last quarter. Jacobs Asset Management LLC purchased a new position in Investors Bancorp in the second quarter worth about $7,453,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Investors Bancorp in the second quarter worth about $6,606,000. 72.86% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on ISBC. BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, September 27th. 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 lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Royal Bank of Canada started coverage on shares of Investors Bancorp in a research note on Friday. They issued an “outperform” rating and a $15.00 price target for the company. Finally, ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Two 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.53.

In related news, Director Robert C. Albanese sold 35,302 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $11.14, for a total transaction of $393,264.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO P. Sean Burke sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.04, for a total transaction of $220,800.00. The disclosure for this sale can be found here. Insiders own 3.49% of the company’s stock.

NASDAQ ISBC traded up $0.13 during trading hours on Monday, hitting $11.73. 37,151 shares of the company’s stock traded hands, compared to its average volume of 1,585,955. The business’s fifty day moving average price is $11.27 and its two-hundred day moving average price is $11.28. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $3.16 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.29 and a beta of 0.92. Investors Bancorp Inc has a 52 week low of $9.94 and a 52 week high of $12.91.

Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $166.15 million during 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 posted $0.20 earnings per share. On average, sell-side analysts expect that Investors Bancorp Inc will post 0.74 EPS for the current fiscal year.

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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