Investors Bancorp, Inc. (ISBC) Sees Significant Decline in Short Interest

Investors Bancorp, Inc. (NASDAQ:ISBC) saw a significant decline in short interest in the month of December. As of December 29th, there was short interest totalling 7,264,174 shares, a decline of 29.1% from the December 15th total of 10,252,011 shares. Based on an average daily volume of 2,262,055 shares, the short-interest ratio is currently 3.2 days. Currently, 2.6% of the shares of the company are sold short.

In related news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total transaction of $69,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of Investors Bancorp by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 21,600,876 shares of the savings and loans company’s stock worth $294,636,000 after purchasing an additional 118,515 shares in the last quarter. State Street Corp increased its stake in shares of Investors Bancorp by 5.5% during the second quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock worth $175,828,000 after purchasing an additional 688,073 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Investors Bancorp by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 8,021,712 shares of the savings and loans company’s stock worth $109,416,000 after purchasing an additional 128,977 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Investors Bancorp by 20.8% during the third quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock worth $62,090,000 after purchasing an additional 783,442 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Investors Bancorp by 325.3% during the fourth quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock worth $35,892,000 after purchasing an additional 1,977,898 shares in the last quarter. 78.52% of the stock is owned by institutional investors and hedge funds.

Shares of Investors Bancorp (NASDAQ ISBC) opened at $14.24 on Thursday. The company has a market cap of $4,350.00, a PE ratio of 22.60, a PEG ratio of 1.65 and a beta of 0.53. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.20. Investors Bancorp has a one year low of $12.48 and a one year high of $15.11.

Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, October 26th. The savings and loans company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $179.31 million during the quarter, compared to analysts’ expectations of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. During the same quarter in the previous year, the company earned $0.15 earnings per share. research analysts forecast that Investors Bancorp will post 0.59 EPS for the current fiscal year.

A number of research analysts have weighed in on ISBC shares. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price objective on shares of Investors Bancorp in a research report on Friday, December 22nd. Barclays upped their price objective on shares of Investors Bancorp from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies downgraded shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.50.

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Investors Bancorp Company Profile

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.

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