Verition Fund Management LLC Invests $674,000 in Investors Bancorp Inc (ISBC)

Verition Fund Management LLC purchased a new position in shares of Investors Bancorp Inc (NASDAQ:ISBC) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 52,669 shares of the savings and loans company’s stock, valued at approximately $674,000.

Several other large investors have also modified their holdings of ISBC. First Republic Investment Management Inc. acquired a new stake in shares of Investors Bancorp during the 1st quarter worth approximately $149,000. Virtu Financial LLC acquired a new stake in shares of Investors Bancorp during the 2nd quarter worth approximately $173,000. Stifel Financial Corp acquired a new stake in shares of Investors Bancorp during the 1st quarter worth approximately $192,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Investors Bancorp during the 1st quarter worth approximately $193,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Investors Bancorp during the 2nd quarter worth approximately $196,000. Institutional investors own 63.41% of the company’s stock.

Shares of NASDAQ ISBC opened at $12.45 on Wednesday. The company has a market cap of $4.48 billion, a P/E ratio of 17.11, a PEG ratio of 1.36 and a beta of 0.58. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. Investors Bancorp Inc has a 52-week low of $12.30 and a 52-week high of $14.69.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Investors Bancorp had a net margin of 16.21% and a return on equity of 6.71%. The firm had revenue of $182.78 million during the quarter, compared to analysts’ expectations of $180.64 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. equities research analysts predict that Investors Bancorp Inc will post 0.77 earnings per share for the current year.

In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $12.70, for a total value of $63,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.51% of the company’s stock.

A number of research analysts recently issued reports on ISBC shares. Stephens restated a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a report on Thursday, August 16th. Royal Bank of Canada restated a “buy” rating and set a $14.00 price objective on shares of Investors Bancorp in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, July 4th. ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Finally, BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.79.

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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Institutional Ownership by Quarter for Investors Bancorp (NASDAQ:ISBC)

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