Investors Bancorp, Inc. (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, June 29th.
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. “
Several other brokerages have also recently commented on ISBC. Keefe, Bruyette & Woods set a $16.00 target price on shares of Investors Bancorp and gave the stock a “buy” rating in a report on Monday, April 3rd. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Deutsche Bank AG decreased their target price on shares of Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Investors Bancorp has an average rating of “Hold” and a consensus target price of $14.93.
Shares of Investors Bancorp (NASDAQ:ISBC) traded down 2.89% during trading on Thursday, hitting $13.10. 6,760,772 shares of the company traded hands. The firm has a 50 day moving average price of $13.31 and a 200-day moving average price of $13.90. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 20.44 and a beta of 0.71. Investors Bancorp has a one year low of $11.10 and a one year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. The firm had revenue of $176.38 million during the quarter, compared to analyst estimates of $179.25 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. Analysts predict that Investors Bancorp will post $0.62 EPS for the current year.
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In related news, Director Doreen R. Byrnes sold 40,000 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $13.67, for a total transaction of $546,800.00. Following the transaction, the director now owns 169,663 shares of the company’s stock, valued at $2,319,293.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Kalamaras sold 120,000 shares of Investors Bancorp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total transaction of $1,630,800.00. Following the sale, the vice president now owns 725,827 shares in the company, valued at approximately $9,863,988.93. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
A number of large investors have recently bought and sold shares of ISBC. World Asset Management Inc boosted its stake 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 valued at $157,000 after buying an additional 72 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Investors Bancorp during the first quarter valued at $163,000. TFS Capital LLC bought a new stake in shares of Investors Bancorp during the first quarter valued at $164,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Investors Bancorp during the fourth quarter valued at $162,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Investors Bancorp by 17.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock valued at $168,000 after buying an additional 1,735 shares during the last quarter. Hedge funds and other institutional investors own 77.32% of the company’s stock.
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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