Investors Bancorp, Inc. (NASDAQ: ISBC) Receives Consensus “Buy” Recommendation from Brokerages
Shares of Investors Bancorp, Inc. (NASDAQ: ISBC) received an average “Buy” rating from the six analysts who currently cover the company, reports MarketBeat.com. Three investment analysts rated the stock with a conservation rating and three issued a buy rating for the company. The 12-month average price target among analysts who hedged the stock in the past year is $ 16.50.
Several research analysts weighed in on the title. Wells Fargo & Company raised its price target for Investors Bancorp shares from $ 14.65 to $ 16.00 and gave the stock an “equal weight” rating in a report released on Thursday, October 7. Zacks Investment Research downgraded Investors Bancorp’s stock rating from a “buy” rating to a “keep” rating in a report released on Wednesday.
NASDAQ: VSI shares opened at $ 15.15 on Friday. The company has a 50-day moving average of $ 15.31 and a 200-day moving average of $ 14.66. The company has a current ratio of 1.10, a rapid ratio of 1.10 and a debt ratio of 1.24. Investors Bancorp has a 12 month low of $ 10.39 and a 12 month high of $ 16.35. The stock has a market cap of $ 3.75 billion, a PE ratio of 12.12 and a beta of 1.07.
Investors Bancorp (NASDAQ: ISBC) last released its results on Tuesday, October 26. The savings and loan company reported earnings per share (EPS) of $ 0.28 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.31 ($ 0.03). The company posted revenue of $ 210.55 million for the quarter, compared to a consensus estimate of $ 211.83 million. Investors Bancorp posted a return on equity of 11.23% and a net margin of 28.94%. The company’s turnover increased by 4.5% compared to the same quarter last year. During the same period of the previous year, the company achieved earnings per share of $ 0.27. On average, research analysts expect Investors Bancorp to post EPS of 1.27 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 26. Shareholders of record on Wednesday, November 10 received a dividend of $ 0.14 per share. The ex-dividend date was Tuesday, November 9. This represents a dividend of $ 0.56 on an annualized basis and a return of 3.70%. Investors Bancorp’s dividend payout ratio is currently 44.80%.
Meanwhile, CFO P. Sean Burke sold 100,946 shares of the company in a transaction that took place on Wednesday, November 24. The shares were sold for an average price of $ 16.21, for a total value of $ 1,636,334.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible through the SEC website. 3.22% of the shares are currently held by insiders of the company.
Several hedge funds and other institutional investors have recently changed their holdings of equities. Assenagon Asset Management SA increased its stake in Investors Bancorp by 743.6% in the third quarter. Assenagon Asset Management SA now owns 350,626 shares of the savings and loan company valued at $ 5,298,000 after acquiring an additional 309,064 shares during the last quarter. Invesco Ltd. increased its holdings in Investors Bancorp by 7.7% in the second quarter. Invesco Ltd. now owns 847,752 shares of the savings and loan company valued at $ 12,089,000 after acquiring an additional 60,889 shares during the last quarter. RMB Capital Management LLC increased its stake in Investors Bancorp by 3.5% in the third quarter. RMB Capital Management LLC now owns 755,025 shares of the savings and loan company valued at $ 11,408,000 after acquiring an additional 25,743 shares in the last quarter. Virginia Retirement Systems ET AL increased its holdings in Investors Bancorp by 38.3% in the second quarter. Virginia Retirement Systems ET AL now owns 173,000 shares of the savings and loan company valued at $ 2,467,000 after acquiring an additional 47,900 shares in the last quarter. Finally, Sphinx Trading LP purchased a new stake in Investors Bancorp in the third quarter valued at $ 302,000. 74.05% of the shares are currently held by institutional investors.
Investors Bancorp Company Profile
Investors Bancorp, Inc. operates as a banking holding company, which provides banking services. It offers banking solutions to individuals, small businesses and businesses. Its services include financial education, loans, investments and planning, treasury management and industry. The company was founded in 1926 and is headquartered in Short Hills, New Jersey.
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