Stock

Smart Money Recently Increased Its Stake in This Bank Stock

Two prominent investors bought more shares of Investors Bancorp (NASDAQ:ISBC) in the second quarter, a time when a lot of smart money appeared to be negative on the banking sector. Specifically, bank hedge fund EJF Capital and community bank activist investor Lawrence Seidman both significantly increased their stakes.

According to 13F reports filed with the Securities and Exchange Commission, EJF Capital increased its stake in Investors Bancorp from 30,000 shares as of March 31 to 200,000 shares as of June 30, a 566% increase. Seidman is a longtime bank investor who will frequently buy a large stake in a public bank and join its board. Seidman increased his position in the roughly $27 billion asset bank from 45,000 shares to more than 117,000, representing a 160% increase.

Following the smart money is a popular investment strategy. EJF Capital was recently down about 20% on the year, according to The Wall

Read More

Business News | Stock and Share Market News


By

Read More

Walgreens Boots Alliance, Inc. (WBA) Stock Price, Quote, History & News

SmarterAnalyst

Walgreens Boots Alliance Inc. (WBA) has announced that it will be expanding the size of its care clinics by nearly 700 retail stores over the next few years. The July 8 expansion news by Walgreens represents an overhaul of its business model from being primarily a drug pharmacy to a primary care clinic.Walgreens says that it will still provide a vast range of retail products to customers by optimizing existing space in the store while removing all of its tobacco products. The clinics themselves will be approximately 3,300 square feet each, with some as large as 9,000 square feet.It will include a partnership with VillageMD which will help create the clinics to provide regular treatment to patients from medical practitioners. VillageMD is a primary care service whose subsidiary Village Medical brand, provides services to patients at Walgreens at its current traditional free-standing clinics.Walgreens CEO Stefano Pessina stated, “These clinics

Read More

Yahoo Finance – Stock Market Live, Quotes, Business & Finance News

Business

Bloomberg

(Bloomberg) — Drug and vaccine makers working on Covid-19 medicines rallied after President Donald Trump hinted at a “big surprise” coming soon, while day traders continued to favor a handful of smaller developers.Vaxart Inc., which also said it made a deal to scale up production of its experimental vaccine, was among the standouts, gaining as much as 57% on Thursday. Lesser-known drug developers working on medicines for Covid-19, like microcap NanoViricides Inc., jumped as much as 25%, while CytoDyn Inc. surged 33%.Sorrento Therapeutics Inc. climbed 30% before paring its gain. The stock shot up and appeared on investor radars in May after the chief executive and founder touted early data on Fox News.Some Wall Street analysts have suggested that Trump may try to push through a vaccine before the November election to score a win in the eyes of voters, spurring concerns about safety and effectiveness. With a

Read More