Zacks Investment Research cut shares of Investors Bancorp (NASDAQ:ISBC) from a buy rating to a hold rating in a research note released on Thursday morning.
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 research analysts have also recently weighed in on ISBC. Piper Jaffray Companies cut Investors Bancorp from an overweight rating to a neutral rating and set a $15.00 price target for the company. in a research report on Wednesday, November 29th. Sandler O’Neill downgraded Investors Bancorp from a buy rating to a hold rating and set a $16.00 price target for the company. in a research note on Thursday, November 30th. They noted that the move was a valuation call. BidaskClub downgraded Investors Bancorp from a buy rating to a hold rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods reiterated a hold rating and set a $15.50 price target on shares of Investors Bancorp in a research note on Friday, December 22nd. Finally, Barclays upped their price target on Investors Bancorp from $14.00 to $15.00 and gave the stock an underweight rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $15.31.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Investors Bancorp had a return on equity of 5.71% and a net margin of 13.82%. The business had revenue of $182.91 million during the quarter, compared to analysts’ expectations of $181.14 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. research analysts forecast that Investors Bancorp will post 0.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.51%. Investors Bancorp’s dividend payout ratio is presently 83.72%.
In related news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $13.94, for a total transaction of $69,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William V. Cosgrove sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total value of $1,338,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 155,000 shares of company stock valued at $2,116,200 in the last three months. 2.96% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of ISBC. Bank of Montreal Can boosted its holdings in Investors Bancorp by 325.3% in the 4th quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock worth $35,892,000 after buying an additional 1,977,898 shares during the period. Cerebellum GP LLC purchased a new position in shares of Investors Bancorp during the fourth quarter valued at approximately $125,000. Fox Run Management L.L.C. raised its holdings in shares of Investors Bancorp by 113.1% during the fourth quarter. Fox Run Management L.L.C. now owns 23,650 shares of the savings and loans company’s stock valued at $328,000 after purchasing an additional 12,550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Investors Bancorp by 174.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,007 shares of the savings and loans company’s stock valued at $208,000 after purchasing an additional 9,546 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its holdings in Investors Bancorp by 118.0% during the third quarter. Beacon Investment Advisory Services Inc. now owns 730,076 shares of the savings and loans company’s stock valued at $9,958,000 after buying an additional 395,181 shares during the last quarter. 78.85% of the stock is owned by hedge funds and other institutional investors.
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Investors Bancorp Company Profile
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.
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