Trade Report: Today, Investors Bancorp Inc. (ISBC) Sees Significant Increase in Short Interest

Today, Investors Bancorp Inc. (ISBC) Sees Significant Increase in Short Interest

Investors Bancorp Inc. (NASDAQ:ISBC) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 11,244,708 shares, a growth of 17.3% from the October 31st total of 9,587,923 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 3,423,595 shares, the short-interest ratio is currently 3.3 days.

Shares of Investors Bancorp (NASDAQ:ISBC) opened at 14.10 on Friday. Investors Bancorp has a 12 month low of $10.67 and a 12 month high of $14.12. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 24.74 and a beta of 0.66. The company has a 50-day moving average price of $12.62 and a 200-day moving average price of $11.87.

Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Thursday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Investors Bancorp had a return on equity of 5.51% and a net margin of 21.68%. The firm had revenue of $168.13 million for the quarter, compared to analyst estimates of $163.95 million. During the same quarter in the prior year, the company earned $0.14 EPS. Investors Bancorp’s revenue was up 3.4% on a year-over-year basis. On average, analysts expect that Investors Bancorp will post $0.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th were paid a dividend of $0.08 per share. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.32 annualized dividend and a yield of 2.27%. Investors Bancorp’s dividend payout ratio is presently 55.17%.

In other news, Director Brian D. Dittenhafer sold 124,529 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $12.27, for a total transaction of $1,527,970.83. Following the sale, the director now owns 516,086 shares in the company, valued at $6,332,375.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Cummings sold 997,499 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $12.11, for a total value of $12,079,712.89. Following the sale, the insider now owns 2,749,061 shares in the company, valued at approximately $33,291,128.71. The disclosure for this sale can be found here. Insiders own 3.44% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC raised its stake in Investors Bancorp by 162.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 34,497 shares of the company’s stock worth $379,000 after buying an additional 21,351 shares in the last quarter. LMR Partners LLP bought a new stake in Investors Bancorp during the second quarter worth about $312,000. Capital Fund Management S.A. raised its stake in Investors Bancorp by 244.1% in the second quarter. Capital Fund Management S.A. now owns 219,399 shares of the company’s stock worth $2,431,000 after buying an additional 155,630 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in Investors Bancorp by 201.8% in the second quarter. Moody Aldrich Partners LLC now owns 228,305 shares of the company’s stock worth $2,530,000 after buying an additional 152,645 shares in the last quarter. Finally, Diversified Trust Co raised its stake in Investors Bancorp by 8.6% in the second quarter. Diversified Trust Co now owns 48,000 shares of the company’s stock worth $532,000 after buying an additional 3,795 shares in the last quarter. 77.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on ISBC shares. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, August 3rd. Piper Jaffray Cos. upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Friday, August 19th.

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