Geode Capital Management LLC raised its stake in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,030,028 shares of the savings and loans company’s stock after purchasing an additional 106,555 shares during the quarter. Geode Capital Management LLC owned 0.84% of Investors Bancorp worth $31,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Investors Bancorp by 1.4% in the 4th quarter. California State Teachers Retirement System now owns 383,486 shares of the savings and loans company’s stock worth $3,988,000 after purchasing an additional 5,169 shares during the period. Roundview Capital LLC purchased a new stake in Investors Bancorp in the 4th quarter worth approximately $188,000. Dimensional Fund Advisors LP increased its holdings in Investors Bancorp by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock worth $99,581,000 after acquiring an additional 1,082,081 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Investors Bancorp by 42.5% in the 4th quarter. Hsbc Holdings PLC now owns 22,112 shares of the savings and loans company’s stock worth $230,000 after acquiring an additional 6,593 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Investors Bancorp by 30.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 35,276 shares of the savings and loans company’s stock worth $353,000 after acquiring an additional 8,185 shares in the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.
In other news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $11.91, for a total transaction of $59,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Doreen R. Byrnes sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $12.74, for a total value of $382,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,100 shares of company stock valued at $3,747,423. Corporate insiders own 3.51% of the company’s stock.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. Investors Bancorp had a return on equity of 7.54% and a net margin of 20.70%. The business had revenue of $148.51 million during the quarter, compared to the consensus estimate of $175.20 million. During the same period last year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that Investors Bancorp Inc will post 0.81 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered shares of Investors Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, March 29th. Wells Fargo & Co lowered shares of Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 target price for the company. in a report on Friday, February 1st. Finally, Piper Jaffray Companies raised shares of Investors Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.50 to $13.50 in a report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.61.
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About Investors Bancorp
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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