Stevens Capital Management LP trimmed its stake in Investors Bancorp Inc (NASDAQ:ISBC) by 64.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,065 shares of the savings and loans company’s stock after selling 115,503 shares during the period. Stevens Capital Management LP’s holdings in Investors Bancorp were worth $798,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ISBC. Gamco Investors INC. ET AL bought a new stake in Investors Bancorp during the third quarter valued at $152,000. Cerebellum GP LLC bought a new stake in Investors Bancorp during the third quarter valued at $170,000. Engineers Gate Manager LP bought a new stake in Investors Bancorp during the second quarter valued at $196,000. Brown Advisory Inc. bought a new stake in Investors Bancorp during the second quarter valued at $250,000. Finally, Staley Capital Advisers Inc. boosted its position in Investors Bancorp by 100.0% during the third quarter. Staley Capital Advisers Inc. now owns 20,000 shares of the savings and loans company’s stock valued at $245,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 61.25% of the company’s stock.
ISBC stock opened at $11.75 on Friday. The stock has a market cap of $4.30 billion, a PE ratio of 18.95, a P/E/G ratio of 1.29 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.60. Investors Bancorp Inc has a 1 year low of $10.27 and a 1 year high of $14.69.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, November 8th. This is a boost from Investors Bancorp’s previous quarterly dividend of $0.09. Investors Bancorp’s dividend payout ratio is 70.97%.
In other news, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.51% of the stock is owned by corporate insiders.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. BidaskClub cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. Stephens reissued a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research report on Thursday, August 16th. Finally, ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Investors Bancorp currently has a consensus rating of “Hold” and a consensus target price of $14.79.
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Investors Bancorp Company 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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