Investors Bancorp, Inc. (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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. “
ISBC has been the subject of several other reports. Deutsche Bank AG decreased their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a research report on Wednesday, May 3rd. Keefe, Bruyette & Woods set a $16.00 target price on Investors Bancorp and gave the stock a “buy” rating in a research report on Monday, April 3rd. Finally, BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock 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 midday trading on Thursday, hitting $13.10. 6,760,772 shares of the stock were exchanged. Investors Bancorp has a 12-month low of $11.10 and a 12-month high of $15.11. The firm has a 50 day moving average of $13.31 and a 200 day moving average of $13.90. The firm has a market cap of $4.07 billion, a P/E ratio of 19.55 and a beta of 0.71.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $176.38 million for the quarter, compared to the consensus estimate of $179.25 million. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities analysts forecast that Investors Bancorp will post $0.62 EPS for the current fiscal year.
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In other Investors Bancorp news, VP Paul Kalamaras sold 120,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Doreen R. Byrnes sold 40,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $13.67, for a total value of $546,800.00. Following the completion of the transaction, the director now directly owns 169,663 shares in the company, valued at $2,319,293.21. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 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 in the last quarter. US Bancorp DE raised its stake in Investors Bancorp by 2.7% in the second quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock valued at $189,000 after buying an additional 374 shares during the period. Cipher Capital LP raised its stake in Investors Bancorp by 2.5% in the first quarter. Cipher Capital LP now owns 43,028 shares of the savings and loans company’s stock valued at $619,000 after buying an additional 1,031 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in 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. Finally, Greenwood Capital Associates LLC raised its stake in Investors Bancorp by 4.9% in the first quarter. Greenwood Capital Associates LLC now owns 51,562 shares of the savings and loans company’s stock valued at $741,000 after buying an additional 2,421 shares during the period. 77.32% of the stock is currently owned by hedge funds and other institutional investors.
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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