Investors Bancorp (NASDAQ:ISBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, 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 brokerages also recently issued reports on ISBC. Compass Point raised shares of Investors Bancorp from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Thursday, January 30th. BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 25th. ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Investors Bancorp currently has a consensus rating of “Hold” and an average price target of $14.33.
NASDAQ:ISBC opened at $8.30 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. Investors Bancorp has a 12 month low of $6.31 and a 12 month high of $12.74. The company has a market cap of $2.10 billion, a PE ratio of 11.07 and a beta of 0.96. The company has a 50 day simple moving average of $10.39 and a two-hundred day simple moving average of $11.50.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Wednesday, January 29th. The savings and loans company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Investors Bancorp had a return on equity of 7.11% and a net margin of 17.88%. The company had revenue of $189.23 million during the quarter, compared to the consensus estimate of $180.70 million. During the same period last year, the firm posted $0.22 EPS. Research analysts forecast that Investors Bancorp will post 0.91 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd lifted its stake in shares of Investors Bancorp by 22.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 4,932 shares of the savings and loans company’s stock valued at $59,000 after buying an additional 893 shares in the last quarter. Redwood Investment Management LLC lifted its stake in shares of Investors Bancorp by 1.2% during the 3rd quarter. Redwood Investment Management LLC now owns 93,209 shares of the savings and loans company’s stock valued at $1,059,000 after buying an additional 1,098 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of Investors Bancorp by 15.9% during the 4th quarter. Profund Advisors LLC now owns 14,227 shares of the savings and loans company’s stock valued at $170,000 after buying an additional 1,950 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Investors Bancorp during the 4th quarter valued at $5,958,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Investors Bancorp by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 359,950 shares of the savings and loans company’s stock valued at $4,289,000 after buying an additional 2,100 shares in the last quarter. 69.91% of the stock is owned by hedge funds and other institutional investors.
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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