Royal Bank of Canada assumed coverage on shares of Investors Bancorp (NASDAQ:ISBC) in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $15.00 target price on the savings and loans company’s stock.
ISBC has been the subject of a number of other reports. ValuEngine upgraded Investors Bancorp from a sell rating to a hold rating in a research report on Friday, October 4th. BidaskClub upgraded Investors Bancorp from a strong sell rating to a sell rating in a report on Friday, September 27th. Zacks Investment Research lowered Investors Bancorp from a hold rating to a sell rating in a report on Tuesday, October 1st. Finally, Janney Montgomery Scott upgraded Investors Bancorp from a neutral rating to a buy rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Investors Bancorp has an average rating of Hold and an average price target of $13.53.
Shares of NASDAQ ISBC traded up $0.07 during midday trading on Friday, reaching $11.68. 1,316,883 shares of the stock traded hands, compared to its average volume of 2,061,645. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $3.16 billion, a PE ratio of 14.41, a P/E/G ratio of 1.29 and a beta of 0.92. Investors Bancorp has a one year low of $9.94 and a one year high of $12.91. The company’s 50 day moving average is $11.27 and its 200 day moving average is $11.28.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $166.15 million during the quarter, compared to the consensus estimate of $176.16 million. Investors Bancorp had a return on equity of 7.05% and a net margin of 17.85%. During the same period in the prior year, the company earned $0.20 EPS. As a group, equities analysts forecast that Investors Bancorp will post 0.74 EPS for the current year.
In other Investors Bancorp news, CFO P. Sean Burke sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $11.04, for a total value of $220,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert C. Albanese sold 35,302 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $11.14, for a total value of $393,264.28. The disclosure for this sale can be found here. Company insiders own 3.49% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in shares of Investors Bancorp during the 2nd quarter worth $26,000. NEXT Financial Group Inc bought a new position in shares of Investors Bancorp during the 2nd quarter worth $39,000. Point72 Asset Management L.P. bought a new position in shares of Investors Bancorp during the 2nd quarter worth $49,000. Rockefeller Capital Management L.P. grew its position in shares of Investors Bancorp by 1,911.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 4,808 shares of the savings and loans company’s stock worth $54,000 after buying an additional 4,569 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Investors Bancorp during the 1st quarter worth $151,000. 72.86% of the stock is currently owned by institutional investors and hedge funds.
Investors Bancorp 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.
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