Investors Bancorp (ISBC) Downgraded to “Strong Sell” at BidaskClub

BidaskClub cut shares of Investors Bancorp (NASDAQ:ISBC) from a sell rating to a strong sell rating in a research report sent to investors on Friday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on ISBC. ValuEngine cut shares of Investors Bancorp from a hold rating to a sell rating in a report on Thursday, April 25th. Zacks Investment Research upgraded shares of Investors Bancorp from a hold rating to a buy rating and set a $13.00 target price on the stock in a report on Friday, January 18th. Wells Fargo & Co cut shares of Investors Bancorp from an outperform rating to a market perform rating and set a $12.14 target price on the stock. in a report on Friday, February 1st. Piper Jaffray Companies upgraded shares of Investors Bancorp from a neutral rating to an overweight rating and raised their target price for the stock from $12.50 to $13.50 in a report on Friday, February 1st. Finally, Barclays restated a hold rating and issued a $14.00 target price on shares of Investors Bancorp in a report on Friday, January 11th. Two 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. The company presently has an average rating of Hold and an average target price of $13.61.

Shares of ISBC stock opened at $11.76 on Friday. Investors Bancorp has a 12-month low of $9.94 and a 12-month high of $13.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $3.32 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.30 and a beta of 0.89.

Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, April 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). Investors Bancorp had a return on equity of 7.25% and a net margin of 19.18%. The company had revenue of $173.87 million during the quarter, compared to analysts’ expectations of $181.65 million. During the same quarter in the prior year, the business posted $0.20 EPS. As a group, equities analysts predict that Investors Bancorp will post 0.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, May 9th. Investors Bancorp’s dividend payout ratio is presently 54.32%.

In other news, Director Doreen R. Byrnes sold 30,000 shares of Investors Bancorp stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $12.74, for a total transaction of $382,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, April 1st. The stock was sold at an average price of $11.91, for a total transaction of $59,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 303,100 shares of company stock worth $3,747,423 in the last quarter. Corporate insiders own 3.49% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its position in shares of Investors Bancorp by 7.4% during the 1st quarter. Raymond James & Associates now owns 137,860 shares of the savings and loans company’s stock valued at $1,634,000 after purchasing an additional 9,545 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Investors Bancorp during the 1st quarter valued at $3,374,000. Toronto Dominion Bank raised its position in shares of Investors Bancorp by 16.0% during the 1st quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock valued at $78,000 after purchasing an additional 907 shares during the period. Signition LP raised its position in shares of Investors Bancorp by 21.0% during the 1st quarter. Signition LP now owns 23,374 shares of the savings and loans company’s stock valued at $277,000 after purchasing an additional 4,063 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in shares of Investors Bancorp by 67.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 21,137 shares of the savings and loans company’s stock valued at $250,000 after purchasing an additional 8,480 shares during the period. Institutional investors and hedge funds own 75.89% 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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