Zacks Investment Research upgraded shares of Investors Bancorp (NASDAQ:ISBC) from a hold rating to a buy rating in a research note published on Wednesday morning. The brokerage currently has $16.00 target price on the savings and loans company’s stock.
According to Zacks, “Investors Bancorp, Inc. operates as the holding company for Investors Savings Bank, which provides a range of banking services in the United States. The company generates deposits and originates loans. The company operates from its corporate headquarters in Short Hills, New Jersey, and fifty-three branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New Jersey. The Bank is engaged 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. It originates mortgage loans secured by one-to four-family residential real estate and consumer loans, the majority of which are home equity loans and home equity lines of credit. “
Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Investors Bancorp from a sell rating to a hold rating in a research report on Thursday, January 11th. Sandler O’Neill downgraded shares of Investors Bancorp from a buy rating to a hold rating and set a $16.00 target price on the stock. in a research report on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies downgraded shares of Investors Bancorp from an overweight rating to a neutral rating and set a $15.00 target price on the stock. in a research report on Wednesday, November 29th. Keefe, Bruyette & Woods downgraded shares of Investors Bancorp from an outperform rating to a market perform rating in a research report on Monday, October 30th. Finally, Barclays upped their target price on shares of Investors Bancorp from $14.00 to $15.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $15.31.
Shares of Investors Bancorp (NASDAQ ISBC) opened at $13.89 on Wednesday. Investors Bancorp has a fifty-two week low of $12.48 and a fifty-two week high of $15.11. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. The company has a market cap of $4,240.00, a PE ratio of 32.30, a price-to-earnings-growth ratio of 1.52 and a beta of 0.52.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.69%. The firm had revenue of $182.91 million for the quarter, compared to analyst estimates of $181.14 million. During the same quarter in the prior year, the firm earned $0.18 EPS. equities analysts forecast that Investors Bancorp will post 0.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.36 dividend on an annualized basis and a yield of 2.59%. Investors Bancorp’s payout ratio is presently 83.72%.
In related news, Director William V. Cosgrove sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $13.38, for a total value of $1,338,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total transaction of $69,700.00. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $117,000. Cerebellum GP LLC acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $125,000. Raymond James & Associates acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $143,000. Gotham Asset Management LLC acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $145,000. Finally, Macquarie Group Ltd. acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $172,000. Institutional investors and hedge funds own 75.92% of the company’s stock.
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Investors Bancorp Company Profile
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company 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.
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