BidaskClub upgraded shares of Investors Bancorp (NASDAQ:ISBC) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.
ISBC has been the subject of a number of other reports. Janney Montgomery Scott raised shares of Investors Bancorp from a neutral rating to a buy rating in a research note on Tuesday, August 6th. Royal Bank of Canada started coverage on shares of Investors Bancorp in a research note on Friday, October 11th. They set an outperform rating and a $15.00 price target for the company. Zacks Investment Research downgraded shares of Investors Bancorp from a hold rating to a sell rating in a research note on Tuesday, October 1st. Finally, ValuEngine raised shares of Investors Bancorp from a sell rating to a hold rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned 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 opened at $12.15 on Tuesday. Investors Bancorp has a 1-year low of $9.94 and a 1-year high of $12.91. The company has a market cap of $3.34 billion, a PE ratio of 14.99, a P/E/G ratio of 1.37 and a beta of 0.92. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.14. The company has a 50-day moving average of $11.40 and a two-hundred day moving average of $11.28.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.05%. The company had revenue of $166.15 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period in the previous year, the firm posted $0.20 earnings per share. As a group, equities research analysts forecast that Investors Bancorp will post 0.74 earnings per share for the current year.
In related news, Director Robert C. Albanese sold 35,302 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $11.14, for a total transaction of $393,264.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO P. Sean Burke sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.04, for a total transaction of $220,800.00. The disclosure for this sale can be found here. Insiders own 3.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ISBC. Advisors Preferred LLC acquired a new position in Investors Bancorp during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in Investors Bancorp during the third quarter valued at approximately $36,000. NEXT Financial Group Inc acquired a new position in Investors Bancorp during the second quarter valued at approximately $39,000. Point72 Asset Management L.P. acquired a new position in Investors Bancorp during the second quarter valued at approximately $49,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Investors Bancorp by 1,911.7% during the second quarter. Rockefeller Capital Management L.P. now owns 4,808 shares of the savings and loans company’s stock valued at $54,000 after purchasing an additional 4,569 shares during the period. Hedge funds and other institutional investors own 72.86% of the company’s stock.
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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