Investors Bancorp Inc (NASDAQ:ISBC) Short Interest Up 34.9% in October

Investors Bancorp Inc (NASDAQ:ISBC) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,600,000 shares, an increase of 34.9% from the September 30th total of 4,150,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is presently 3.2 days.

A number of equities analysts have commented on ISBC shares. Stephens began coverage on Investors Bancorp in a research note on Monday, October 28th. They issued an “overweight” rating for the company. BidaskClub downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Janney Montgomery Scott upgraded Investors Bancorp from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada began coverage on Investors Bancorp in a research report on Friday, October 11th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Saturday, October 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Investors Bancorp presently has an average rating of “Buy” and an average target price of $13.73.

In other Investors Bancorp news, Director Robert C. Albanese sold 20,000 shares of Investors Bancorp stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.24, for a total value of $244,800.00. Insiders own 3.49% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in Investors Bancorp during the second quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in Investors Bancorp during the third quarter worth approximately $36,000. NEXT Financial Group Inc bought a new stake in Investors Bancorp during the second quarter worth approximately $39,000. Point72 Asset Management L.P. bought a new stake in Investors Bancorp during the second quarter worth approximately $49,000. Finally, Quest Capital Management Inc. ADV bought a new stake in Investors Bancorp during the third quarter worth approximately $52,000. 73.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ISBC opened at $12.22 on Thursday. 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 stock has a 50 day simple moving average of $11.89 and a 200-day simple moving average of $11.28. The company has a market cap of $3.37 billion, a PE ratio of 15.09, a P/E/G ratio of 1.33 and a beta of 0.92. Investors Bancorp has a 12-month low of $9.94 and a 12-month high of $12.91.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $179.23 million during the quarter, compared to the consensus estimate of $173.37 million. Investors Bancorp had a return on equity of 7.02% and a net margin of 17.21%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. Sell-side analysts forecast that Investors Bancorp will post 0.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 11th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.44 annualized dividend and a yield of 3.60%. Investors Bancorp’s payout ratio is 54.32%.

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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