Investors Bancorp (NASDAQ:ISBC) Downgraded to “Sell” at Zacks Investment Research

Investors Bancorp (NASDAQ:ISBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 research firms have also weighed in on ISBC. BidaskClub raised ZIX from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. ValuEngine lowered Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.61.

NASDAQ ISBC opened at $11.10 on Tuesday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.23 and a current ratio of 1.24. The stock has a 50-day simple moving average of $10.90. Investors Bancorp has a twelve month low of $9.94 and a twelve month high of $13.12.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $173.87 million during the quarter, compared to the consensus estimate of $181.65 million. Investors Bancorp had a return on equity of 7.30% and a net margin of 19.18%. During the same period last year, the company earned $0.20 EPS. On average, sell-side analysts forecast that Investors Bancorp will post 0.74 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc bought a new position in Investors Bancorp during the second quarter valued at approximately $39,000. Toronto Dominion Bank boosted its stake in Investors Bancorp by 16.0% during the first quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock valued at $78,000 after buying an additional 907 shares during the last quarter. Fort Sheridan Advisors LLC bought a new position in Investors Bancorp during the first quarter valued at approximately $130,000. Two Sigma Securities LLC bought a new position in Investors Bancorp during the fourth quarter valued at approximately $131,000. Finally, Weiss Asset Management LP bought a new position in Investors Bancorp during the first quarter valued at approximately $151,000. 74.00% of the stock is owned by institutional investors.

Investors Bancorp Company Profile

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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