Investors Bancorp (ISBC) Downgraded to “Sell” at ValuEngine

Investors Bancorp (NASDAQ:ISBC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday, September 13th.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, July 4th. Stephens restated a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a report on Thursday, August 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $14.00 target price on shares of Investors Bancorp in a research report on Friday, July 27th. Finally, BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three 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 $14.79.

Investors Bancorp stock traded down $0.15 during mid-day trading on Thursday, reaching $12.09. 1,719,722 shares of the company’s stock were exchanged, compared to its average volume of 2,300,617. The firm has a market cap of $4.41 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58. Investors Bancorp has a twelve month low of $11.96 and a twelve month high of $14.69. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.66.

Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Investors Bancorp had a net margin of 16.21% and a return on equity of 6.71%. The business had revenue of $182.78 million for the quarter, compared to analyst estimates of $180.64 million. During the same period last year, the business earned $0.14 EPS. On average, equities research analysts anticipate that Investors Bancorp will post 0.77 earnings per share for the current fiscal year.

In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.51% of the company’s stock.

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Investors Bancorp by 40.7% in the first quarter. Principal Financial Group Inc. now owns 38,573 shares of the savings and loans company’s stock valued at $526,000 after acquiring an additional 11,151 shares in the last quarter. Maltese Capital Management LLC boosted its holdings in shares of Investors Bancorp by 43.6% in the first quarter. Maltese Capital Management LLC now owns 812,339 shares of the savings and loans company’s stock valued at $11,080,000 after acquiring an additional 246,725 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Investors Bancorp by 1,321.9% in the first quarter. Royal Bank of Canada now owns 222,378 shares of the savings and loans company’s stock valued at $3,034,000 after acquiring an additional 206,739 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Investors Bancorp by 651.8% in the second quarter. Cubist Systematic Strategies LLC now owns 147,024 shares of the savings and loans company’s stock valued at $1,880,000 after purchasing an additional 127,468 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Investors Bancorp in the second quarter valued at about $574,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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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