Zacks Investment Research lowered shares of Investors Bancorp (NASDAQ:ISBC) from a buy rating to a hold rating in a research report report published on Saturday morning.
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 topic of a number of other reports. Sandler O’Neill cut Investors Bancorp from a buy rating to a hold rating and set a $16.00 target price on the stock. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Barclays lifted their target price on Investors Bancorp from $13.00 to $14.00 and gave the stock an underweight rating in a research note on Monday, October 30th. BidaskClub cut Investors Bancorp from a hold rating to a sell rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods cut Investors Bancorp from an outperform rating to a market perform rating in a research note on Monday, October 30th. Finally, Piper Jaffray Companies restated a hold rating and issued a $15.50 price objective on shares of Investors Bancorp in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Investors Bancorp presently has an average rating of Hold and a consensus price target of $15.31.
Shares of Investors Bancorp (NASDAQ ISBC) opened at $13.31 on Friday. The company has a market capitalization of $4,227.60, a price-to-earnings ratio of 30.25, a PEG ratio of 1.51 and a beta of 0.67. Investors Bancorp has a 52 week low of $12.48 and a 52 week high of $15.11. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.20.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, January 25th. The savings and loans company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The company had revenue of $182.91 million for the quarter, compared to analysts’ expectations of $181.14 million. Investors Bancorp had a return on equity of 5.69% and a net margin of 13.82%. During the same period in the previous year, the business posted $0.18 EPS. research analysts predict that Investors Bancorp will post 0.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, February 8th. Investors Bancorp’s dividend payout ratio is currently 81.82%.
In related news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $13.94, for a total value of $69,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in Investors Bancorp during the 2nd quarter valued at about $216,000. Bank of Montreal Can grew its holdings in Investors Bancorp by 325.3% during the 4th quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock valued at $35,892,000 after buying an additional 1,977,898 shares in the last quarter. Cerebellum GP LLC purchased a new position in Investors Bancorp during the 4th quarter valued at about $125,000. OxFORD Asset Management LLP purchased a new position in Investors Bancorp during the 2nd quarter valued at about $373,000. Finally, Fox Run Management L.L.C. grew its holdings in Investors Bancorp by 113.1% during the 4th quarter. Fox Run Management L.L.C. now owns 23,650 shares of the savings and loans company’s stock valued at $328,000 after buying an additional 12,550 shares in the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.
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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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