Assenagon Asset Management S.A. acquired a new position in Investors Bancorp Inc (NASDAQ:ISBC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 551,964 shares of the savings and loans company’s stock, valued at approximately $4,692,000. Assenagon Asset Management S.A. owned about 0.22% of Investors Bancorp at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of ISBC. Advisor Group Holdings Inc. bought a new position in shares of Investors Bancorp in the first quarter worth approximately $27,000. Kistler Tiffany Companies LLC bought a new position in Investors Bancorp during the second quarter valued at approximately $40,000. Point72 Hong Kong Ltd grew its position in Investors Bancorp by 22.1% during the fourth quarter. Point72 Hong Kong Ltd now owns 4,932 shares of the savings and loans company’s stock valued at $59,000 after acquiring an additional 893 shares during the last quarter. GAM Holding AG bought a new position in Investors Bancorp during the first quarter valued at approximately $82,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Investors Bancorp during the first quarter valued at approximately $88,000. Institutional investors own 70.50% of the company’s stock.
ISBC has been the topic of several recent analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $11.00 target price on shares of Investors Bancorp in a report on Monday, April 13th. Compass Point cut their target price on shares of Investors Bancorp from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Friday, May 1st. Keefe, Bruyette & Woods upgraded shares of Investors Bancorp from a “market perform” rating to an “outperform” rating and set a $11.50 target price on the stock in a report on Wednesday, April 1st. ValuEngine cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Zacks Investment Research cut shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.50.
Shares of ISBC stock opened at $8.54 on Friday. The stock has a fifty day moving average of $8.44 and a 200 day moving average of $9.45. Investors Bancorp Inc has a 52 week low of $6.31 and a 52 week high of $12.74. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.54 and a beta of 1.14. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.18.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Wednesday, April 29th. The savings and loans company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). Investors Bancorp had a return on equity of 7.03% and a net margin of 17.03%. The business had revenue of $187.94 million during the quarter, compared to analysts’ expectations of $189.90 million. During the same period in the previous year, the business earned $0.18 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Investors Bancorp Inc will post 0.81 earnings per share for the current year.
About Investors Bancorp
Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.
See Also: What are municipal bonds?
Want to see what other hedge funds are holding ISBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investors Bancorp Inc (NASDAQ:ISBC).
Receive News & Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.