Investors Bancorp Inc (NASDAQ:ISBC) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.73.
Several research firms recently commented on ISBC. ValuEngine upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. BidaskClub upgraded shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, March 29th. Wells Fargo & Co lowered shares of Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 price target on the stock. in a research report on Friday, February 1st. Finally, Piper Jaffray Companies upgraded shares of Investors Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $12.50 to $13.50 in a research report on Friday, February 1st.
In other news, Director Doreen R. Byrnes sold 30,000 shares of Investors Bancorp stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $12.74, for a total value of $382,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Harbour Group L.P. Blue sold 268,100 shares of Investors Bancorp stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $12.33, for a total transaction of $3,305,673.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,100 shares of company stock worth $3,747,423. Company insiders own 3.51% of the company’s stock.
ISBC stock opened at $12.23 on Monday. The firm has a market cap of $3.43 billion, a P/E ratio of 15.10, a PEG ratio of 1.25 and a beta of 0.91. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.81. Investors Bancorp has a one year low of $9.94 and a one year high of $13.95.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $148.51 million for the quarter, compared to analyst estimates of $175.20 million. Investors Bancorp had a net margin of 20.70% and a return on equity of 7.54%. During the same quarter last year, the business earned $0.17 earnings per share. Research analysts predict that Investors Bancorp will post 0.81 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.
Further Reading: Mutual Funds
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