ValuEngine Lowers Investors Bancorp (NASDAQ:ISBC) to Sell

Investors Bancorp (NASDAQ:ISBC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday, ValuEngine reports.

A number of other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Royal Bank of Canada initiated coverage on shares of Investors Bancorp in a research note on Friday, October 11th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Janney Montgomery Scott upgraded shares of Investors Bancorp from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.53.

Shares of Investors Bancorp stock opened at $12.11 on Monday. Investors Bancorp has a 52-week low of $9.94 and a 52-week high of $12.91. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.14. The company’s 50-day simple moving average is $11.49 and its 200-day simple moving average is $11.28. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.05%. The business had revenue of $166.15 million for the quarter, compared to analyst estimates of $176.16 million. During the same period in the previous year, the business posted $0.20 earnings per share. Equities research analysts anticipate that Investors Bancorp will post 0.74 EPS for the current year.

In other Investors Bancorp news, CFO P. Sean Burke sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $11.04, for a total transaction of $220,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Albanese sold 35,302 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $11.14, for a total transaction of $393,264.28. The disclosure for this sale can be found here. Corporate insiders own 3.49% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC acquired a new position in Investors Bancorp during the second quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in Investors Bancorp during the third quarter worth about $36,000. NEXT Financial Group Inc acquired a new position in Investors Bancorp during the second quarter worth about $39,000. Point72 Asset Management L.P. acquired a new position in Investors Bancorp during the second quarter worth about $49,000. Finally, Rockefeller Capital Management L.P. grew its position in Investors Bancorp by 1,911.7% during the second quarter. Rockefeller Capital Management L.P. now owns 4,808 shares of the savings and loans company’s stock worth $54,000 after buying an additional 4,569 shares during the period. Institutional investors own 72.87% of the company’s stock.

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.

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Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

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