Man Group plc decreased its holdings in Investors Bancorp Inc (NASDAQ:ISBC) by 25.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,139,948 shares of the savings and loans company’s stock after selling 379,301 shares during the period. Man Group plc owned about 0.41% of Investors Bancorp worth $12,950,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Advisors Preferred LLC bought a new stake in Investors Bancorp during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in Investors Bancorp in the third quarter valued at about $36,000. NEXT Financial Group Inc bought a new position in Investors Bancorp in the second quarter worth about $39,000. Point72 Asset Management L.P. bought a new position in Investors Bancorp in the second quarter worth about $49,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of Investors Bancorp during the third quarter valued at about $52,000. 72.26% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of Investors Bancorp in a research report on Friday, October 11th. They issued an “outperform” rating and a $15.00 price objective on the stock. Janney Montgomery Scott raised shares of Investors Bancorp from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 6th. Stephens began coverage on shares of Investors Bancorp in a research note on Monday, October 28th. They issued an “overweight” rating for the company. BidaskClub lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.73.
Shares of NASDAQ ISBC opened at $11.78 on Wednesday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.23 and a current ratio of 1.24. The company has a market cap of $3.31 billion, a PE ratio of 14.54, a P/E/G ratio of 1.31 and a beta of 0.92. The business has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $11.34. Investors Bancorp Inc has a fifty-two week low of $9.94 and a fifty-two week high of $12.91.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $179.23 million for the quarter, compared to the consensus estimate of $173.37 million. Investors Bancorp had a net margin of 17.21% and a return on equity of 7.04%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, sell-side analysts predict that Investors Bancorp Inc will post 0.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 11th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, November 7th. Investors Bancorp’s dividend payout ratio (DPR) is presently 54.32%.
Investors Bancorp 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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