Investors Bancorp (NASDAQ:ISBC) Now Covered by StockNews.com

StockNews.com started coverage on shares of Investors Bancorp (NASDAQ:ISBCGet Rating) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the savings and loans company’s stock.

Separately, Zacks Investment Research downgraded shares of Investors Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, December 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.40.

Shares of Investors Bancorp stock opened at $13.87 on Friday. The firm has a market capitalization of $3.44 billion, a PE ratio of 10.43 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.20. Investors Bancorp has a twelve month low of $12.60 and a twelve month high of $17.67. The firm’s 50-day moving average price is $15.37 and its 200 day moving average price is $15.68.

Investors Bancorp (NASDAQ:ISBCGet Rating) last released its quarterly earnings data on Wednesday, January 26th. The savings and loans company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.10. The company had revenue of $216.40 million during the quarter. Investors Bancorp had a net margin of 31.87% and a return on equity of 11.68%. During the same quarter in the previous year, the company posted $0.32 EPS. On average, sell-side analysts predict that Investors Bancorp will post 1.35 EPS for the current fiscal year.

In other Investors Bancorp news, CFO P. Sean Burke sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $17.24, for a total value of $1,724,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Spengler sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $17.41, for a total transaction of $5,223,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,000,000 shares of company stock valued at $16,901,272 in the last 90 days. Insiders own 3.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ellevest Inc. raised its stake in Investors Bancorp by 173.6% during the first quarter. Ellevest Inc. now owns 1,770 shares of the savings and loans company’s stock worth $26,000 after purchasing an additional 1,123 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Investors Bancorp in the 4th quarter valued at $33,000. Covestor Ltd purchased a new position in shares of Investors Bancorp in the 4th quarter valued at $55,000. Strs Ohio raised its stake in shares of Investors Bancorp by 105.1% in the 4th quarter. Strs Ohio now owns 8,000 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 4,100 shares during the period. Finally, Sageworth Trust Co of South Dakota purchased a new position in shares of Investors Bancorp in the 4th quarter valued at $153,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Investors Bancorp Company Profile (Get Rating)

Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various life insurance products.

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