Zacks Investment Research Lowers Investors Bancorp (NASDAQ:ISBC) to Sell

Zacks Investment Research lowered shares of Investors Bancorp (NASDAQ:ISBC) from a hold rating to a sell rating in a report published on Tuesday, 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. “

Several other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of ZIX from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. ValuEngine cut shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Investors Bancorp has an average rating of Hold and a consensus target price of $13.61.

Shares of ISBC stock traded up $0.02 during trading hours on Tuesday, reaching $11.24. 11,289 shares of the stock were exchanged, compared to its average volume of 1,665,532. Investors Bancorp has a 12-month low of $9.94 and a 12-month high of $13.12. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.24 and a quick ratio of 1.23. The stock’s 50-day moving average is $10.91. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $173.87 million during the quarter, compared to analysts’ expectations of $181.65 million. Investors Bancorp had a net margin of 19.18% and a return on equity of 7.30%. During the same period last year, the firm earned $0.20 earnings per share. Equities research analysts anticipate that Investors Bancorp will post 0.74 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ISBC. NEXT Financial Group Inc purchased a new stake in shares of Investors Bancorp in the 2nd quarter worth approximately $39,000. Toronto Dominion Bank raised its stake 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 worth $78,000 after acquiring an additional 907 shares in the last quarter. Fort Sheridan Advisors LLC bought a new position in shares of Investors Bancorp during the 1st quarter worth approximately $130,000. Two Sigma Securities LLC bought a new position in shares of Investors Bancorp during the 4th quarter worth approximately $131,000. Finally, Weiss Asset Management LP bought a new position in shares of Investors Bancorp during the 1st quarter worth approximately $151,000. 74.00% of the stock is owned by hedge funds and other institutional investors.

Investors Bancorp Company Profile

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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