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. “
A number of other analysts also recently weighed in on ISBC. Keefe, Bruyette & Woods set a $16.00 price target on shares of Investors Bancorp and gave the stock a “buy” rating in a research report on Monday, April 3rd. Deutsche Bank AG decreased their price objective 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. Finally, BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. 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 company. The company currently has a consensus rating of “Hold” and an average target price of $14.93.
Shares of Investors Bancorp (NASDAQ:ISBC) traded down 0.68% on Thursday, hitting $13.06. 1,365,138 shares of the stock traded hands. The firm’s 50-day moving average is $13.35 and its 200 day moving average is $13.94. Investors Bancorp has a 12-month low of $11.10 and a 12-month high of $15.11. The firm has a market cap of $3.89 billion, a P/E ratio of 19.79 and a beta of 0.71.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Thursday, April 27th. The savings and loans company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Investors Bancorp had a net margin of 21.92% and a return on equity of 5.95%. The business had revenue of $176.82 million during the quarter, compared to the consensus estimate of $175.48 million. During the same quarter last year, the company earned $0.14 earnings per share. Equities research analysts forecast that Investors Bancorp will post $0.62 EPS for the current fiscal year.
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In other 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 completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Kalamaras sold 120,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total transaction of $1,630,800.00. Following the transaction, the vice president now directly owns 725,827 shares of the company’s stock, valued at approximately $9,863,988.93. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. World Asset Management Inc increased 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 valued at $157,000 after buying an additional 72 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Investors Bancorp during the fourth quarter valued at about $162,000. Gotham Asset Management LLC purchased a new position in shares of Investors Bancorp during the first quarter valued at about $163,000. TFS Capital LLC purchased a new position in shares of Investors Bancorp during the first quarter valued at about $164,000. Finally, Bronfman E.L. Rothschild L.P. increased its position 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 period. 76.06% of the stock is 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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