Investors Bancorp Inc (NASDAQ:ISBC) Receives Average Rating of “Hold” from Brokerages

Shares of Investors Bancorp Inc (NASDAQ:ISBC) have earned an average rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $13.73.

ISBC has been the topic of a number of analyst reports. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada initiated coverage on Investors Bancorp in a research report on Friday, October 11th. They issued an “outperform” rating and a $15.00 price target on the stock. BidaskClub cut Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 7th. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Saturday, October 26th. Finally, Stephens initiated coverage on Investors Bancorp in a research report on Monday, October 28th. They issued an “overweight” rating on the stock.

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In other news, Director Robert C. Albanese sold 20,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.24, for a total transaction of $244,800.00. 3.49% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in shares of Investors Bancorp by 297.3% during the third quarter. Millennium Management LLC now owns 1,697,862 shares of the savings and loans company’s stock worth $19,287,000 after purchasing an additional 1,270,561 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Investors Bancorp by 5,959.1% during the third quarter. Point72 Asset Management L.P. now owns 266,600 shares of the savings and loans company’s stock valued at $3,029,000 after acquiring an additional 262,200 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Investors Bancorp by 32.4% during the third quarter. Parametric Portfolio Associates LLC now owns 973,544 shares of the savings and loans company’s stock valued at $11,059,000 after acquiring an additional 238,243 shares during the period. California State Teachers Retirement System lifted its stake in shares of Investors Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 359,381 shares of the savings and loans company’s stock valued at $4,083,000 after acquiring an additional 4,292 shares during the period. Finally, Redwood Investment Management LLC lifted its stake in shares of Investors Bancorp by 1.2% during the third quarter. Redwood Investment Management LLC now owns 93,209 shares of the savings and loans company’s stock valued at $1,059,000 after acquiring an additional 1,098 shares during the period. Institutional investors own 72.26% of the company’s stock.

NASDAQ:ISBC traded up $0.04 during trading hours on Friday, reaching $11.96. The company had a trading volume of 1,048,528 shares, compared to its average volume of 1,406,670. The stock has a 50-day moving average of $12.00 and a two-hundred day moving average of $11.53. Investors Bancorp has a one year low of $10.35 and a one year high of $12.91. The firm has a market capitalization of $3.27 billion, a PE ratio of 14.76, a PEG ratio of 1.10 and a beta of 0.91. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 2.01.

Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Investors Bancorp had a return on equity of 7.04% and a net margin of 17.21%. The firm had revenue of $179.23 million for the quarter, compared to analysts’ expectations of $173.37 million. During the same period in the prior year, the business posted $0.19 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Investors Bancorp will post 0.77 earnings per share for the current year.

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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