State of Alaska Department of Revenue grew its holdings in shares of Investors Bancorp Inc (NASDAQ:ISBC) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 105,135 shares of the savings and loans company’s stock after purchasing an additional 5,232 shares during the period. State of Alaska Department of Revenue’s holdings in Investors Bancorp were worth $1,245,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Connable Office Inc. raised its position in Investors Bancorp by 5.4% in the 4th quarter. Connable Office Inc. now owns 31,383 shares of the savings and loans company’s stock worth $326,000 after purchasing an additional 1,613 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Investors Bancorp by 3.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,046 shares of the savings and loans company’s stock worth $739,000 after purchasing an additional 2,359 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in Investors Bancorp by 10.4% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 29,600 shares of the savings and loans company’s stock worth $363,000 after purchasing an additional 2,800 shares during the period. Advisors Preferred LLC acquired a new stake in Investors Bancorp during the 4th quarter worth $31,000. Finally, Enlightenment Research LLC acquired a new stake in Investors Bancorp during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 76.02% of the company’s stock.
Shares of NASDAQ:ISBC opened at $12.23 on Friday. 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 firm has a market capitalization of $3.43 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.27 and a beta of 0.91. Investors Bancorp Inc has a 12-month low of $9.94 and a 12-month high of $13.95.
Several equities research analysts have issued reports on ISBC shares. Zacks Investment Research raised shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, January 2nd. Barclays restated a “hold” rating and issued a $14.00 price target on shares of Investors Bancorp in a research note on Friday, January 11th. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co lowered shares of Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 price target for the company. in a research note on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.61.
In other Investors Bancorp 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 transaction of $382,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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. Over the last quarter, insiders sold 303,100 shares of company stock worth $3,747,423. 3.51% of the stock is owned by company insiders.
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Investors Bancorp 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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