Sei Investments Co. Sells 213,759 Shares of Investors Bancorp, Inc. (NASDAQ:ISBC)

Sei Investments Co. decreased its stake in shares of Investors Bancorp, Inc. (NASDAQ:ISBC) by 58.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 151,488 shares of the savings and loans company’s stock after selling 213,759 shares during the period. Sei Investments Co. owned 0.06% of Investors Bancorp worth $2,160,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Investors Bancorp by 86.5% during the 1st quarter. BlackRock Inc. now owns 36,585,251 shares of the savings and loans company’s stock worth $537,438,000 after buying an additional 16,968,006 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Investors Bancorp by 7.6% during the 1st quarter. Geode Capital Management LLC now owns 4,352,740 shares of the savings and loans company’s stock worth $63,941,000 after buying an additional 306,078 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Investors Bancorp by 20.9% during the 2nd quarter. Victory Capital Management Inc. now owns 3,648,728 shares of the savings and loans company’s stock worth $52,031,000 after buying an additional 630,454 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Investors Bancorp by 75.9% during the 1st quarter. Bank of New York Mellon Corp now owns 3,055,098 shares of the savings and loans company’s stock worth $44,879,000 after buying an additional 1,318,549 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Investors Bancorp by 0.7% during the 2nd quarter. LSV Asset Management now owns 2,729,972 shares of the savings and loans company’s stock worth $38,929,000 after buying an additional 17,900 shares during the period. 75.11% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Janney Montgomery Scott cut shares of Investors Bancorp from a “buy” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research note on Thursday, July 29th. Wells Fargo & Company cut shares of Investors Bancorp from an “overweight” rating to an “equal weight” rating and set a $14.65 price objective for the company. in a research note on Friday, July 30th. Keefe, Bruyette & Woods upgraded shares of Investors Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 29th. Finally, Stephens upgraded shares of Investors Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $15.50 to $17.50 in a research note on Friday, August 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.09.

Shares of NASDAQ:ISBC opened at $14.07 on Friday. The firm has a 50 day moving average of $13.85 and a 200-day moving average of $14.35. The stock has a market capitalization of $3.48 billion, a PE ratio of 11.35 and a beta of 1.16. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.43. Investors Bancorp, Inc. has a 12 month low of $6.74 and a 12 month high of $15.71.

Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Tuesday, July 27th. The savings and loans company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $207.78 million during the quarter, compared to analysts’ expectations of $207.05 million. Investors Bancorp had a net margin of 28.31% and a return on equity of 10.64%. On average, research analysts predict that Investors Bancorp, Inc. will post 1.25 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 25th. Investors of record on Tuesday, August 10th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Monday, August 9th. Investors Bancorp’s dividend payout ratio is 59.57%.

Investors Bancorp Profile

Investors Bancorp, Inc operates as a bank holding, which engages in the provision of banking services. It offers personal, small business, and commercial banking solutions. Its services include financial education, lending, investments and planning, treasury management, and industry. The company was founded in 1926 and is headquartered in Short Hills, NJ.

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

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