Investors Bancorp (NASDAQ:ISBC) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
ISBC has been the topic of several other reports. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens restated a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 16th. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, July 4th. Finally, Royal Bank of Canada restated a “buy” rating and set a $14.00 price objective on shares of Investors Bancorp in a research note on Friday, July 27th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.79.
ISBC traded up $0.14 during trading hours on Friday, hitting $12.93. 2,262,300 shares of the stock were exchanged, compared to its average volume of 2,323,492. Investors Bancorp has a 12 month low of $12.30 and a 12 month high of $14.69. The stock has a market capitalization of $4.61 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.39 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.23.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Investors Bancorp had a return on equity of 6.71% and a net margin of 16.21%. The firm had revenue of $182.78 million for the quarter, compared to analysts’ expectations of $180.64 million. During the same period last year, the business posted $0.14 earnings per share. research analysts anticipate that Investors Bancorp will post 0.77 earnings per share for the current fiscal year.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $12.70, for a total value of $63,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.51% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ISBC. Citigroup Inc. increased its position in Investors Bancorp by 31,589.6% in the first quarter. Citigroup Inc. now owns 1,909,618 shares of the savings and loans company’s stock worth $26,048,000 after buying an additional 1,903,592 shares during the period. Seizert Capital Partners LLC acquired a new position in shares of Investors Bancorp during the first quarter valued at $17,667,000. BNP Paribas Arbitrage SA increased its holdings in shares of Investors Bancorp by 226.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,522,428 shares of the savings and loans company’s stock valued at $20,766,000 after purchasing an additional 1,055,829 shares during the period. Millennium Management LLC acquired a new position in shares of Investors Bancorp during the second quarter valued at $13,344,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Investors Bancorp during the first quarter valued at $12,694,000. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
About Investors Bancorp
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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