Investors Bank (ISBC) Upgraded at Sandler O’Neill

Investors Bank (NASDAQ:ISBC) was upgraded by equities research analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $15.50 price objective on the savings and loans company’s stock. Sandler O’Neill’s target price points to a potential upside of 16.19% from the company’s previous close.

A number of other brokerages also recently issued reports on ISBC. BidaskClub upgraded shares of Investors Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research downgraded shares of Investors Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price target on shares of Investors Bank in a research note on Friday, December 22nd. Barclays lifted their price target on shares of Investors Bank from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Jaffray reiterated a “hold” rating and issued a $15.50 price target on shares of Investors Bank in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $15.38.

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NASDAQ ISBC opened at $13.34 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. Investors Bank has a one year low of $12.48 and a one year high of $14.85. The company has a market capitalization of $4,094.24, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.62.

Investors Bank (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Investors Bank had a net margin of 13.82% and a return on equity of 5.71%. The company had revenue of $182.91 million during the quarter, compared to the consensus estimate of $181.14 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. equities research analysts anticipate that Investors Bank will post 0.76 earnings per share for the current year.

In other news, CFO P. Sean Burke sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $14.17, for a total transaction of $708,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $13.58, for a total transaction of $67,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 155,000 shares of company stock valued at $2,114,400 in the last 90 days. Insiders own 2.96% of the company’s stock.

Several large investors have recently modified their holdings of ISBC. Citadel Advisors LLC lifted its position in shares of Investors Bank by 149.5% during the 4th quarter. Citadel Advisors LLC now owns 7,034,045 shares of the savings and loans company’s stock worth $97,633,000 after buying an additional 4,214,853 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Investors Bank by 325.3% during the 4th quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock worth $35,892,000 after buying an additional 1,977,898 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Investors Bank by 20.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock worth $62,090,000 after buying an additional 783,442 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Investors Bank by 185.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,081,145 shares of the savings and loans company’s stock worth $15,007,000 after buying an additional 702,829 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Investors Bank by 148.7% during the 4th quarter. Millennium Management LLC now owns 973,823 shares of the savings and loans company’s stock worth $13,517,000 after buying an additional 582,243 shares during the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.

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Investors Bank Company Profile

Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.

Analyst Recommendations for Investors Bank (NASDAQ:ISBC)

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