Blue Harbour Group Lowers stake in Investors Bancorp (ISBC)

Investors Bancorp (ISBC) : Blue Harbour Group reduced its stake in Investors Bancorp by 1.43% during the most recent quarter end. The investment management company now holds a total of 29,732,428 shares of Investors Bancorp which is valued at $409,415,534 after selling 430,000 shares in Investors Bancorp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Investors Bancorp makes up approximately 16.31% of Blue Harbour Group’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers sold out all of its stake in ISBC during the most recent quarter. The investment firm sold 2,384 shares of ISBC which is valued $32,828. Cim Investment Mangement Inc added ISBC to its portfolio by purchasing 20,859 company shares during the most recent quarter which is valued at $277,425. Investors Bancorp makes up approx 0.11% of Cim Investment Mangement Inc’s portfolio.Cipher Capital Lp boosted its stake in ISBC in the latest quarter, The investment management firm added 4,410 additional shares and now holds a total of 119,868 shares of Investors Bancorp which is valued at $1,594,244. Investors Bancorp makes up approx 0.10% of Cipher Capital Lp’s portfolio.

Investors Bancorp opened for trading at $13.76 and hit $13.85 on the upside on Monday, eventually ending the session at $13.79, with a gain of 0.44% or 0.06 points. The heightened volatility saw the trading volume jump to 18,95,122 shares. Company has a market cap of $4,265 M.

On the company’s financial health, Investors Bancorp reported $0.15 EPS for the quarter, based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus estimate of $0.15. The company had revenue of $168.13 million for the quarter, compared to analysts expectations of $168.74 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Investors Bancorp. Investors Bancorp was Upgraded by Piper Jaffray to ” Overweight” on Aug 19, 2016.

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