Investors Bancorp (NASDAQ:ISBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Several other analysts also recently commented on ISBC. BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray Companies reissued a “hold” rating and set a $15.50 price objective on shares of Investors Bancorp in a research report on Monday, January 29th. Barclays cut their price objective on shares of Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 30th. Sandler O’Neill reissued a “hold” rating and set a $15.00 price objective on shares of Investors Bancorp in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 price objective on shares of Investors Bancorp in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Investors Bancorp presently has an average rating of “Hold” and an average price target of $15.31.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.71%. The company had revenue of $182.91 million for the quarter, compared to the consensus estimate of $181.14 million. During the same period in the prior year, the firm posted $0.18 EPS. analysts expect that Investors Bancorp will post 0.76 EPS for the current fiscal year.
In other Investors Bancorp news, CFO P. Sean Burke sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $14.17, for a total transaction of $708,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total transaction of $69,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 155,000 shares of company stock worth $2,116,200 in the last 90 days. Company insiders own 2.96% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ISBC. Canada Pension Plan Investment Board lifted its stake in Investors Bancorp by 278.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 28,000 shares of the savings and loans company’s stock valued at $382,000 after acquiring an additional 20,600 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Investors Bancorp by 85.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 61,223 shares of the savings and loans company’s stock worth $835,000 after purchasing an additional 28,228 shares during the period. Sei Investments Co. lifted its stake in shares of Investors Bancorp by 5.4% in the 3rd quarter. Sei Investments Co. now owns 376,825 shares of the savings and loans company’s stock worth $5,140,000 after purchasing an additional 19,159 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Investors Bancorp by 5.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 157,200 shares of the savings and loans company’s stock worth $2,052,000 after purchasing an additional 8,700 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Investors Bancorp by 43.5% in the 3rd quarter. SG Americas Securities LLC now owns 37,068 shares of the savings and loans company’s stock worth $506,000 after purchasing an additional 11,240 shares during the period. Institutional investors and hedge funds own 80.34% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Investors Bancorp (ISBC) Downgraded to Hold at Zacks Investment Research” was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2018/03/16/investors-bancorp-isbc-downgraded-to-hold-at-zacks-investment-research.html.
About Investors Bancorp
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.