Investors Bancorp, Inc. (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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 equities analysts have also issued reports about the company. Piper Jaffray Companies reissued a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a research note on Thursday, August 3rd. Stephens set a $16.00 price target on Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Royal Bank of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Investors Bancorp in a research note on Friday, July 7th. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Deutsche Bank AG dropped their price target on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Investors Bancorp presently has a consensus rating of “Hold” and a consensus target price of $15.21.
Investors Bancorp (NASDAQ:ISBC) opened at 13.03 on Wednesday. Investors Bancorp has a 52 week low of $11.58 and a 52 week high of $15.11. The stock has a 50 day moving average of $13.16 and a 200 day moving average of $13.77. The firm has a market cap of $3.85 billion, a PE ratio of 20.33 and a beta of 0.70.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Investors Bancorp had a net margin of 20.91% and a return on equity of 5.79%. The business had revenue of $176.38 million during the quarter, compared to analyst estimates of $179.25 million. During the same period last year, the firm posted $0.15 earnings per share. Analysts anticipate that Investors Bancorp will post $0.56 EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its position in shares of Investors Bancorp by 45.7% in the second quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock worth $146,000 after buying an additional 3,417 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Investors Bancorp by 6.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock worth $156,000 after buying an additional 739 shares during the last quarter. World Asset Management Inc raised its position in shares of Investors Bancorp by 0.7% in the first quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock worth $157,000 after buying an additional 72 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Investors Bancorp during the first quarter worth $163,000. Finally, TFS Capital LLC purchased a new position in shares of Investors Bancorp during the first quarter worth $164,000. 77.37% of the stock is currently owned by institutional investors.
About Investors Bancorp
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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