Zacks Investment Research Lowers Investors Bancorp (NASDAQ:ISBC) to Sell

Zacks Investment Research downgraded shares of Investors Bancorp (NASDAQ:ISBC) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Investors Bancorp, Inc. operates as the holding company for Investors Savings Bank, which provides a range of banking services in the United States. The company generates deposits and originates loans. The company operates from its corporate headquarters in Short Hills, New Jersey, and fifty-three branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New Jersey. The Bank is engaged in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities. It originates mortgage loans secured by one-to four-family residential real estate and consumer loans, the majority of which are home equity loans and home equity lines of credit. “

A number of other equities research analysts have also recently commented on ISBC. BidaskClub upgraded shares of ZIX from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. ValuEngine cut shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Investors Bancorp has an average rating of Hold and an average target price of $13.61.

ISBC traded up $0.02 during midday trading on Tuesday, hitting $11.24. 11,289 shares of the company traded hands, compared to its average volume of 1,665,532. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.24 and a quick ratio of 1.23. The stock has a market cap of $3.13 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. Investors Bancorp has a 52-week low of $9.94 and a 52-week high of $13.12. The stock’s 50 day moving average price is $10.91.

Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, April 24th. The savings and loans company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The business had revenue of $173.87 million during the quarter, compared to analyst estimates of $181.65 million. Investors Bancorp had a net margin of 19.18% and a return on equity of 7.30%. During the same quarter last year, the company earned $0.20 earnings per share. Equities analysts expect that Investors Bancorp will post 0.74 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ISBC. NEXT Financial Group Inc acquired a new stake in shares of Investors Bancorp in the second quarter valued at about $39,000. Toronto Dominion Bank raised its position in shares of Investors Bancorp by 16.0% in the first quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock valued at $78,000 after buying an additional 907 shares during the last quarter. Fort Sheridan Advisors LLC acquired a new stake in Investors Bancorp during the first quarter worth about $130,000. Two Sigma Securities LLC acquired a new stake in Investors Bancorp during the fourth quarter worth about $131,000. Finally, Weiss Asset Management LP acquired a new stake in Investors Bancorp during the first quarter worth about $151,000. Institutional investors and hedge funds own 74.00% of the company’s stock.

Investors Bancorp Company Profile

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.

Read More: Cost of Goods Sold (COGS)

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