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Investors Bancorp (ISBC) Company Profile

Updated Jun 19, 2020
Investors Bancorp has the following business profile:
Company's Full Name:Investors Bancorp, Inc.
Short Name:Investors Bancorp
Trading Ticker Symbol:ISBC
Primary Exchange:NASDAQ
Headquarter City/Country:New Jersey, NJ
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Savings & Cooperative Banks, Bank
Dividend Payments:Dividend History
ETFs Holding:List of ETFs holding Investors Bancorp stock

Market and Trading Information for Investors Bancorp

The following details were available for trading and market data about the stock of Investors Bancorp as of writing:
Current Share Price:$8.2
Previous Year's Closing Price:$11.91
Percentage Price Change (YTD):-31.15%
Market Cap:$2.05 billion
52-week Price Range:$6.31 - $12.74
Dividend Per Share:$0.45
EPS (TTM):0.73
Price-Earnings (Trailing):11.22
Price-Earnings (Forward):9.65

Company Profile and Business Description for Investors Bancorp

Investors Bancorp, Inc., incorporated on December 16, 2013, is the holding company for Investors Bank (the Bank). The Bank is a New Jersey-chartered savings bank. The Bank is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities. The Bank originates multi-family loans, commercial real estate loans, commercial and industrial (C&I) loans, one- to four-family residential mortgage loans secured by one- to four-family residential real estate, construction loans and consumer loans, the majority of which are home equity loans, home equity lines of credit and cash surrender value lending on life insurance contracts. Its securities primarily include mortgage-backed securities, the United States Government and Federal Agency obligations, and other securities.

Lending Activities

The Bank's loan portfolio consists of multi-family loans, commercial real estate loans, construction loans, commercial and industrial loans, residential mortgage loans, and consumer and other loans. As of December 31, 2016, $7.46 billion of its total loan portfolio was multi-family loans. It originates multi-family loans in New York, New Jersey and surrounding states. The multi-family loans in its portfolio consist of both fixed-rate and adjustable-rate loans. As of December 31, 2016, $4.45 billion of its total loan portfolio was commercial real estate loans. It originates commercial real estate loans in New Jersey, New York and surrounding states, which are secured by industrial properties, retail buildings, office buildings and other commercial properties. Commercial real estate loans in its portfolio consist of both fixed-rate and adjustable-rate loans. Included in commercial real estate loans are owner occupied commercial mortgage loans, which totaled approximately $700 million as of December 31, 2016.

As of December 31, 2016, $1.28 billion of its total loan portfolio was commercial and industrial loans. The Bank offers a range of credit facilities to commercial and industrial clients throughout its geographic footprint. Its credit offerings are lines of credit, term loans and letters of credit. The collateral for these types of loans can consisted of real estate and/or a lien on the general assets, including inventory and receivables of the business, and in many cases are further supported by a personal guarantee of the owner. As of December 31, 2016, asset based lending loans totaled $70.3 million. Included in the Company's commercial and industrial loans were $95.0 million of loans to Co-operative housing corporations and groups (Co-Op loans) as of December 31, 2016. As of December 31, 2016, it held $314.8 million in construction loans. It offers loans directly to builders and developers on income-producing properties and residential for-sale housing units.

As of December 31, 2016, $4.71 billion of its loan portfolio consisted of residential mortgage loans. Residential mortgage loans are originated by its mortgage subsidiary, Investors Home Mortgage, for its loan portfolio and for sale to third parties. It also purchases mortgage loans from correspondent entities, including other banks and mortgage brokers. It offers various loan programs to provide financing for low-and moderate-income home buyers, some of which include down payment assistance for home purchases. As of December 31, 2016, consumer and other loans totaled $597.3 million of its total loan portfolio. It offers consumer loans, most of which consist of home equity loans, home equity lines of credit and cash surrender value lending on life insurance contracts. Home equity loans and home equity lines of credit are secured by residences primarily located in New Jersey and New York.

Investment Activities

As of December 31, 2016, the Bank's securities portfolio totaled $3.42 billion. The Bank's securities are classified as held-to-maturity or available-for-sale when purchased. The Bank purchases mortgage-backed pass through and collateralized mortgage obligation (CMO) securities insured or guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises) and the Government National Mortgage Association (Ginnie Mae) (government agency), and a range of federal and state housing authorities (agency-issued mortgage-backed securities). As of December 31, 2016, agency-issued mortgage-backed securities, including CMOs, totaled $3.33 billion of its total securities portfolio. The estimated fair value of its mortgage-backed securities as of December 31, 2016 was $3.31 billion.

The Bank's corporate and other debt securities portfolio primarily consists of collateralized debt obligations (CDOs) backed by pooled trust preferred securities (TruPS), principally issued by banks and insurance companies, real estate investment trusts and collateralized debt obligations. As of December 31, 2016, the trust preferred securities portfolio had an amortized cost of $39.1 million. As of December 31, 2016, it had $38.0 million in municipal bonds. As of December 31, 2016, debt securities issued by Government Sponsored Enterprises held in its security portfolio totaled $2.1 million. As of December 31, 2016, it had $6.7 million in equity securities. As of December 31, 2016, $1.76 billion of its securities were classified as held-to-maturity and reported at amortized cost and $1.66 billion were classified as available-for-sale and reported at fair value.

Sources of Funds

Deposits are the primary source of funds used for its lending and investment activities. In addition, it uses an amount of borrowings, primarily advances from the Federal Home Loan Bank of New York (FHLB). Additional sources of funds include principal and interest payments from loans and securities, loan and security prepayments and maturities, repurchase agreements, brokered deposits, income on other earning assets and retained earnings. As of December 31, 2016, it held $15.28 billion in total deposits. As of December 31, 2016, it held $12.33 billion in core deposits, of which $736.8 million were brokered money market deposits. As of December 31, 2016, $2.95 billion, of its total deposit balances were certificates of deposit, which included $687.8 million of brokered certificates of deposits. In addition, municipal deposits are a source of funds. As of December 31, 2016 $3.36 billion of its total deposits consisted of public fund deposits from local government entities.

The Bank offers a range of commercial deposit products for small and mid-sized business owners and non-profit organizations. It borrows directly from the FHLB and various financial institutions. It also borrows funds under repurchase agreements with the FHLB and various brokers.

Subsidiary Activities

The Company has two direct subsidiaries: Marathon Statutory Trust II and Investors Bank. Marathon Statutory Trust II is a Delaware statutory trust. The purpose of this subsidiary was to issue and sell trust preferred securities. Investors Bank has direct and indirect subsidiaries, including Investors Home Mortgage, Investors Investment Corp., Investors Commercial, Inc., Investors Financial Group, Inc., My Way Development LLC, Marathon Realty Investors Inc. and Investors Financial Group Insurance Agency, Inc. Investors Home Mortgage is a limited liability company that was formed for the purpose of originating loans for sale to both Investors Bank and third parties.

Investors Investment Corp. is an investment company. The purpose of this subsidiary is to invest in securities, such as the United States Treasury obligations, mortgage-backed securities, certificates of deposit, mutual funds and equity securities. Investors Commercial, Inc. originates and purchases residential mortgage loans, commercial real estate and multi-family mortgage loans primarily in New York State. Investors Financial Group, Inc. processes sales of non-deposit investment products through third-party service providers to customers and consumers.

My Way Development LLC is a real estate holding company for Bank-owned real estate. Marathon Realty Investors Inc. is a real estate investment trust. Investors Financial Group Insurance Agency, Inc. is an insurance agency. Investors Financial Group Insurance Agency, Inc. receives commissions relating to the sale of certain insurance products, including life insurance, fixed annuities and indexed annuities.

101 John F Kennedy Pkwy

ETFs Holding Investors Bancorp Stock

As of March 2020, the following exchange-traded funds (ETF) hold the Investors Bancorp stocks in their respective portfolios. Below is a random list of only 10 ETFs in no particular order that have Investors Bancorp stock holding. There are a total of 64 ETFs in Fknol.com records which are holding Investors Bancorp stock in their portfolio. See Full List.

TickerNameShort DescriptionExpense
Ratio
No. of
Holdings
Dividend
Frequency
DEWWisdomTree Global Equity Income FundThe WisdomTree Global High Dividend ETF tracks an index of the top 30% of global dividend-paying stocks ranked by dividend yield and weighted by dividends. ...Full Details0.58%660
Full List
Quarterly
DGROiShares Core Dividend Growth ETFThe iShares Core Dividend Growth ETF tracks an index of US stocks that are selected by dividends, dividend growth and payout ratio, then weighted by dividend dollars. ...Full Details0.08%449
Full List
Quarterly
DTDWisdomTree US Total Dividend ETFThe WisdomTree U.S. Total Dividend Fund tracks an index of U.S. companies selected and weighted based on the dollar amount of dividends paid. ...Full Details0.28%864
Full List
Monthly
ESGVVanguard ESG US Stock ETFThe Vanguard ESG U.S. Stock ETF tracks a market-cap-weighted index of US companies screened for environmental, social, and corporate governance (ESG) criteria. ...Full Details0.12%988
Full List
Quarterly
FDLFirst Trust Morningstar Dividend LeadersThe First Trust Morningstar Dividend Leaders ETF tracks a dividend-weighted index of US companies with consistent and sustained dividend payments. The fund holds roughly 100 securities and excludes REITs. ...Full Details0.45%101
Full List
Quarterly
FNCLFidelity MSCI Financials Index ETFThe Fidelity MSCI Financials ETF tracks a market-cap-weighted index of stocks in the broad US financials sector. ...Full Details0.08%377
Full List
Quarterly
FNDBSchwab Fundamental US Broad Market Index ETFThe Schwab Fundamental U.S. Broad Market Index ETF tracks a fundamentally selected and weighted Russell Index based on sales, cash flow and dividends/buybacks. ...Full Details0.25%1481
Full List
Quarterly
IEFNiShares Evolved US Financials ETFThe iShares Evolved U.S. Financials ETF is an actively managed, market-cap-weighted fund of large-, mid-, and small-cap US stocks in the financial sector, according to an alternative classification system defined by machine learning algorithms. ...Full Details0.18%254
Full List
Annually
ITOTiShares Core S&P Total US Stock Market ETFThe iShares Core S&P Total U.S. Stock Market ETF tracks a market cap-weighted index of all common equities listed on the NYSE and the NASDAQ. ...Full Details0.03%3090
Full List
Quarterly
IWViShares Russell 3000 ETFThe iShares Russell 3000 ETF tracks a cap-weighted index that measures the investable US equities market, covering the entire market-cap spectrum, including micro-caps. ...Full Details0.2%3002
Full List
Quarterly

See Full List of ETFs holding Investors Bancorp stock in their respective portfolios.

Peer / Competitor Companies of Major Banks Sector

Along with Investors Bancorp, Inc., the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

▶ 1st Source (SRCE): 1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance to individual....See Detailed Company Profile,  Dividend History

▶ ACNB (ACNB): ACNB Corporation, incorporated on November 9, 1982, is a financial holding company. The Companys banking operations are conducted through its operating subsidiary, ACNB Bank (the Bank), and offers a range ....See Detailed Company Profile,  Dividend History

▶ Allegiance Bancshares (ABTX): Allegiance Bancshares, Inc., incorporated on April 30, 2008, is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily ....See Detailed Company Profile,  Dividend History

▶ American National Bankshares (AMNB): American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segm....See Detailed Company Profile,  Dividend History

▶ American River Bankshares (AMRB): American River Bankshares operates as the holding company for American River Bank that provides commercial banking products and services to small and middle-market businesses, and individuals in Calif....See Detailed Company Profile,  Dividend History

▶ Ameris Bancorp (ABCB): Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company....See Detailed Company Profile,  Dividend History

▶ AmeriServ Financial (ASRV): AmeriServ Financial Inc. operates as the bank holding company for AmeriServ Financial Bank that provides various consumer, mortgage, and commercial financial products. It offers retail banking service....See Detailed Company Profile,  Dividend History

▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile,  Dividend History

▶ ANZ Bank ADR (ANZBY): Australia and New Zealand Banking Group Limited provides various banking and financial products and services. The company's Australia division offers retail products and services to consumers through the branch....See Detailed Company Profile,  Dividend History

▶ Arrow Financial (AROW): Arrow Financial Corporation (Arrow), incorporated on March 21, 1983, is a bank holding company. The Companys banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and ....See Detailed Company Profile,  Dividend History

▶ Associated Banc-Corp (ASB): Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a ....See Detailed Company Profile,  Dividend History

▶ Atlantic Capital Bancshares (ACBI): Atlantic Capital Bancshares, Inc. operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, m....See Detailed Company Profile,  Dividend History

▶ Auburn National Bancorporation (AUBN): Auburn National Bancorporation, Inc., incorporated on April 12, 1990, is a bank holding company. The Company operates through its subsidiary AuburnBank (the Bank), which is a commercial bank located in ....See Detailed Company Profile,  Dividend History

▶ Banc of California (BANC): Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits cons....See Detailed Company Profile,  Dividend History

▶ BancFirst (BANF): BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company ....See Detailed Company Profile,  Dividend History

▶ Banco Bradesco Sa (BBD): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pensi....See Detailed Company Profile,  Dividend History

▶ Banco Bradesco Sa (BBDO): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans a....See Detailed Company Profile,  Dividend History

▶ Bancorp of New Jersey (BKJ): Bancorp of New Jersey, Inc. operates as a bank holding company of Bank of New Jersey that provides banking services to individuals, businesses, non-profit organizations, and governmental units. The co....See Detailed Company Profile,  Dividend History

▶ BancorpSouth (BXS): BancorpSouth, Inc., incorporated on February 17, 1982, is a financial holding company. The Company, through its principal bank subsidiary, BancorpSouth Bank (the Bank), conducts commercial banking and financial services operations ....See Detailed Company Profile,  Dividend History

▶ Bank of America (BAC): Bank of America Corporation, incorporated on July 31, 1998, is a bank holding company (BHC) and a financial holding company. The Company is a financial institution, serving individual consumers, small- ....See Detailed Company Profile,  Dividend History  and Recent Candlestick Patterns.

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