Investors Bancorp, Inc. (NASDAQ:ISBC) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.10.
ISBC has been the subject of several analyst reports. Royal Bank of Canada lowered their target price on Investors Bancorp from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. BidaskClub raised Investors Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st. Piper Sandler lowered their target price on Investors Bancorp from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. TheStreet raised Investors Bancorp from a “c+” rating to a “b” rating in a research note on Thursday. Finally, Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, November 3rd.
ISBC stock remained flat at $$9.58 during midday trading on Tuesday. The company’s stock had a trading volume of 1,025,332 shares, compared to its average volume of 2,039,351. The company’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.20. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.13 and a quick ratio of 1.12. The stock has a market capitalization of $2.39 billion, a PE ratio of 11.83 and a beta of 1.09. Investors Bancorp has a one year low of $6.31 and a one year high of $12.57.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, November 9th. Investors Bancorp’s dividend payout ratio (DPR) is 62.34%.
In other news, Director James J. Garibaldi sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $7.79, for a total value of $194,750.00. Following the completion of the sale, the director now directly owns 56,980 shares of the company’s stock, valued at approximately $443,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.49% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Investors Bancorp by 7.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 24,245,941 shares of the savings and loans company’s stock valued at $176,026,000 after purchasing an additional 1,662,698 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Investors Bancorp by 17.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,447,678 shares of the savings and loans company’s stock valued at $46,305,000 after purchasing an additional 791,461 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Investors Bancorp by 3.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,896,903 shares of the savings and loans company’s stock valued at $33,124,000 after purchasing an additional 131,288 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Investors Bancorp by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,792,247 shares of the savings and loans company’s stock valued at $20,272,000 after purchasing an additional 123,489 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Investors Bancorp by 193.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,724,118 shares of the savings and loans company’s stock valued at $19,777,000 after acquiring an additional 1,795,706 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.
Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.
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