Investors Bancorp, Inc. (NASDAQ:ISBC) announced its quarterly earnings data on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03. Investors Bancorp had a return on equity of 5.83% and a net margin of 22.14%. During the same period in the previous year, the company posted $0.14 EPS.
Shares of Investors Bancorp (NASDAQ:ISBC) opened at 14.46 on Monday. The company has a market capitalization of $4.29 billion, a PE ratio of 22.59 and a beta of 0.69. Investors Bancorp has a 12 month low of $10.67 and a 12 month high of $14.93. The stock’s 50 day moving average price is $14.00 and its 200 day moving average price is $12.61.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 10th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, February 8th. Investors Bancorp’s dividend payout ratio is presently 51.61%.
In other news, Director James J. Garibaldi sold 11,000 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $13.79, for a total value of $151,690.00. Following the sale, the director now directly owns 93,889 shares of the company’s stock, valued at $1,294,729.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James H. Ward III acquired 3,784 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were acquired at an average cost of $13.59 per share, for a total transaction of $51,424.56. Following the completion of the transaction, the director now directly owns 249,404 shares of the company’s stock, valued at $3,389,400.36. The disclosure for this purchase can be found here. Corporate insiders own 3.44% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Tradition Capital Management LLC acquired a new stake in Investors Bancorp during the second quarter valued at approximately $110,000. Pacer Advisors Inc. acquired a new stake in Investors Bancorp during the second quarter valued at approximately $115,000. Staley Capital Advisers Inc. acquired a new stake in Investors Bancorp during the third quarter valued at approximately $120,000. Bronfman E.L. Rothschild L.P. boosted its stake in Investors Bancorp by 3.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,992 shares of the company’s stock valued at $120,000 after buying an additional 342 shares during the period. Finally, Aperio Group LLC acquired a new stake in Investors Bancorp during the third quarter valued at approximately $124,000. 78.25% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, December 28th. Barclays PLC cut Investors Bancorp from an “overweight” rating to an “underweight” rating and set a $13.00 price objective on the stock. in a research note on Tuesday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Investors Bancorp presently has a consensus rating of “Hold” and an average price target of $13.25.
About Investors Bancorp
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.