Stock Traders Buy Large Volume of Put Options on Investors Bancorp (NASDAQ:ISBC)

Investors Bancorp Inc (NASDAQ:ISBC) saw unusually large options trading on Thursday. Stock investors bought 742 put options on the company. This represents an increase of approximately 715% compared to the typical daily volume of 91 put options.

Investors Bancorp stock traded down $0.16 during mid-day trading on Friday, hitting $12.23. 1,233,620 shares of the company’s stock were exchanged, compared to its average volume of 1,990,230. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.25 and a beta of 0.91. Investors Bancorp has a 1-year low of $9.94 and a 1-year high of $13.95.

Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $148.51 million for the quarter, compared to the consensus estimate of $175.20 million. Investors Bancorp had a net margin of 20.70% and a return on equity of 7.54%. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, sell-side analysts anticipate that Investors Bancorp will post 0.81 earnings per share for the current year.

Several research firms have recently commented on ISBC. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Friday, January 18th. Barclays reiterated a “hold” rating and set a $14.00 price objective on shares of Investors Bancorp in a research report on Friday, January 11th. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Co downgraded Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 price objective for the company. in a research report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.61.

In related news, Director Doreen R. Byrnes sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $12.74, for a total value of $382,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $11.91, for a total value of $59,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,100 shares of company stock worth $3,747,423. 3.51% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in shares of Investors Bancorp by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 105,135 shares of the savings and loans company’s stock valued at $1,245,000 after buying an additional 5,232 shares during the period. Deutsche Bank AG lifted its stake in shares of Investors Bancorp by 65.2% in the fourth quarter. Deutsche Bank AG now owns 2,220,600 shares of the savings and loans company’s stock valued at $23,093,000 after buying an additional 876,463 shares during the period. Geode Capital Management LLC lifted its stake in shares of Investors Bancorp by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,030,028 shares of the savings and loans company’s stock valued at $31,511,000 after buying an additional 106,555 shares during the period. Norges Bank bought a new stake in shares of Investors Bancorp in the fourth quarter valued at about $28,230,000. Finally, Nordea Investment Management AB lifted its stake in shares of Investors Bancorp by 35.5% in the fourth quarter. Nordea Investment Management AB now owns 888,500 shares of the savings and loans company’s stock valued at $9,240,000 after buying an additional 233,000 shares during the period. Institutional investors own 76.02% of the company’s stock.

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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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