Investors Bancorp (ISBC) Upgraded by BidaskClub to Sell

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BidaskClub upgraded shares of Investors Bancorp (NASDAQ:ISBC) from a strong sell rating to a sell rating in a report issued on Tuesday.

Several other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of Investors Bancorp from a hold rating to a sell rating in a research report on Thursday, September 13th. Zacks Investment Research cut shares of Investors Bancorp from a hold rating to a sell rating in a research report on Thursday, September 27th. Stephens reiterated a buy rating and set a $15.00 price objective on shares of Investors Bancorp in a research report on Thursday, August 16th. Finally, Royal Bank of Canada reiterated a buy rating and set a $14.00 price objective on shares of Investors Bancorp in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Investors Bancorp currently has an average rating of Hold and an average target price of $14.79.

NASDAQ ISBC opened at $11.29 on Tuesday. Investors Bancorp has a twelve month low of $10.27 and a twelve month high of $14.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.22 and a beta of 0.58.

Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Investors Bancorp had a net margin of 16.73% and a return on equity of 7.01%. The firm had revenue of $177.21 million for the quarter, compared to analysts’ expectations of $181.19 million. As a group, equities analysts expect that Investors Bancorp will post 0.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.09. Investors Bancorp’s dividend payout ratio (DPR) is 58.06%.

In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.51% of the company’s stock.

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in shares of Investors Bancorp during the 3rd quarter valued at $514,000. Congress Asset Management Co. MA boosted its stake in shares of Investors Bancorp by 10.7% during the 3rd quarter. Congress Asset Management Co. MA now owns 281,245 shares of the savings and loans company’s stock valued at $3,451,000 after buying an additional 27,170 shares during the period. Mcrae Capital Management Inc. boosted its stake in shares of Investors Bancorp by 29.8% during the 3rd quarter. Mcrae Capital Management Inc. now owns 22,723 shares of the savings and loans company’s stock valued at $279,000 after buying an additional 5,223 shares during the period. Bank of Montreal Can boosted its stake in shares of Investors Bancorp by 28.8% during the 3rd quarter. Bank of Montreal Can now owns 393,993 shares of the savings and loans company’s stock valued at $4,834,000 after buying an additional 88,212 shares during the period. Finally, CHICAGO TRUST Co NA lifted its stake in shares of Investors Bancorp by 19.9% in the 3rd quarter. CHICAGO TRUST Co NA now owns 26,101 shares of the savings and loans company’s stock valued at $320,000 after purchasing an additional 4,331 shares during the last quarter. 63.45% of the stock is owned by 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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Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

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