Investors Bancorp Inc (ISBC) Given Consensus Rating of “Hold” by Brokerages

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.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Investors Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 22,577,234 shares of the savings and loans company’s stock valued at $277,023,000 after purchasing an additional 194,524 shares during the period. Vanguard Group Inc grew its position in shares of Investors Bancorp by 0.9% in the third quarter. Vanguard Group Inc now owns 22,577,234 shares of the savings and loans company’s stock valued at $277,023,000 after purchasing an additional 194,524 shares during the period. BlackRock Inc. grew its position in shares of Investors Bancorp by 1.9% in the fourth quarter. BlackRock Inc. now owns 18,774,930 shares of the savings and loans company’s stock valued at $195,262,000 after purchasing an additional 345,637 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Investors Bancorp by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock valued at $99,581,000 after purchasing an additional 1,082,081 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Investors Bancorp by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,030,028 shares of the savings and loans company’s stock valued at $31,511,000 after purchasing an additional 106,555 shares during the period. Institutional investors and hedge funds own 76.02% 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

Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

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