Investors Bancorp, Inc. (NASDAQ:ISBC) has been given an average rating of “Hold” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $10.10.
A number of equities research analysts have recently weighed in on ISBC shares. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, November 3rd. Piper Sandler cut their price target on Investors Bancorp from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. TheStreet raised Investors Bancorp from a “c+” rating to a “b” rating in a report on Thursday. BidaskClub raised Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. Finally, Royal Bank of Canada cut their price target on Investors Bancorp from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd.
NASDAQ ISBC remained flat at $$9.58 during trading hours on Tuesday. 1,025,332 shares of the company’s stock were exchanged, compared to its average volume of 2,039,351. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.12 and a current ratio of 1.13. The company has a 50 day moving average of $8.27 and a 200-day moving average of $8.20. Investors Bancorp has a 1 year low of $6.31 and a 1 year high of $12.57. The company has a market cap of $2.39 billion, a PE ratio of 11.83 and a beta of 1.09.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.01%. Investors Bancorp’s dividend payout ratio is presently 62.34%.
In related news, Director James J. Garibaldi sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.79, for a total transaction of $194,750.00. Following the transaction, the director now owns 56,980 shares in the company, valued at $443,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.49% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CI Investments Inc. acquired a new position in shares of Investors Bancorp during the third quarter valued at approximately $25,000. NEXT Financial Group Inc acquired a new position in Investors Bancorp in the third quarter worth approximately $25,000. Advisor Group Holdings Inc. acquired a new position in Investors Bancorp in the first quarter worth approximately $27,000. Kistler Tiffany Companies LLC acquired a new position in Investors Bancorp in the second quarter worth approximately $40,000. Finally, Point72 Hong Kong Ltd grew its position in Investors Bancorp by 5,896.3% in the second quarter. Point72 Hong Kong Ltd now owns 4,857 shares of the savings and loans company’s stock worth $41,000 after buying an additional 4,776 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.
About Investors Bancorp
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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