Piper Jaffray Companies reaffirmed their buy rating on shares of Investors Bancorp, Inc. (NASDAQ:ISBC) in a research report report published on Thursday morning. They currently have a $15.00 price objective on the savings and loans company’s stock.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Investors Bancorp from a sell rating to a hold rating in a report on Thursday, June 29th. Deutsche Bank AG cut their price target 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. BidaskClub downgraded shares of Investors Bancorp from a hold rating to a sell rating in a report on Friday, June 23rd. Royal Bank Of Canada reiterated a buy rating and issued a $16.00 price target on shares of Investors Bancorp in a report on Friday, July 7th. Finally, Stephens initiated coverage on shares of Investors Bancorp in a report on Thursday, July 13th. They issued an overweight rating and a $16.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $15.21.
Investors Bancorp (NASDAQ:ISBC) traded up 1.36% during mid-day trading on Thursday, hitting $13.42. 2,316,030 shares of the stock were exchanged. The company has a market cap of $3.97 billion, a P/E ratio of 20.94 and a beta of 0.70. Investors Bancorp has a one year low of $11.10 and a one year high of $15.11. The company has a 50-day moving average price of $13.28 and a 200-day moving average price of $13.88.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ 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 last year, the business posted $0.15 EPS. Analysts forecast that Investors Bancorp will post $0.56 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.38%. Investors Bancorp’s dividend payout ratio is presently 50.79%.
In other news, VP Paul Kalamaras sold 120,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the transaction, the vice president now owns 725,827 shares in the company, valued at approximately $9,863,988.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.96% of the company’s stock.
Several institutional investors have recently made changes to their positions in ISBC. BlackRock Inc. increased its position in shares of Investors Bancorp by 24,033.7% in the first quarter. BlackRock Inc. now owns 19,801,226 shares of the savings and loans company’s stock worth $284,740,000 after buying an additional 19,719,178 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock valued at $118,659,000 after buying an additional 3,950,175 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in Investors Bancorp during the first quarter valued at $23,904,000. Marshall Wace North America L.P. acquired a new position in Investors Bancorp during the first quarter valued at $23,904,000. Finally, Monarch Partners Asset Management LLC acquired a new position in Investors Bancorp during the first quarter valued at $17,378,000. Institutional investors and hedge funds own 77.35% of the company’s stock.
Investors Bancorp Company Profile
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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