Shares of Investors Bancorp Inc (NASDAQ:ISBC) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.73.
A number of equities research analysts recently commented on ISBC shares. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Janney Montgomery Scott upgraded Investors Bancorp from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada started coverage on Investors Bancorp in a research report on Friday, October 11th. They issued an “outperform” rating and a $15.00 target price on the stock. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Saturday, October 26th. Finally, Stephens started coverage on Investors Bancorp in a research report on Monday, October 28th. They issued an “overweight” rating on the stock.
NASDAQ:ISBC opened at $11.94 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $3.31 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.31 and a beta of 0.92. Investors Bancorp has a 12 month low of $9.94 and a 12 month high of $12.91. The business’s 50-day moving average is $12.17 and its 200 day moving average is $11.33.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 11th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.44 dividend on an annualized basis and a yield of 3.69%. Investors Bancorp’s dividend payout ratio (DPR) is presently 54.32%.
In other Investors Bancorp news, Director Robert C. Albanese sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.24, for a total transaction of $244,800.00. Corporate insiders own 3.49% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its position in Investors Bancorp by 297.3% during the third quarter. Millennium Management LLC now owns 1,697,862 shares of the savings and loans company’s stock valued at $19,287,000 after purchasing an additional 1,270,561 shares during the period. Point72 Asset Management L.P. raised its position in Investors Bancorp by 5,959.1% during the third quarter. Point72 Asset Management L.P. now owns 266,600 shares of the savings and loans company’s stock valued at $3,029,000 after purchasing an additional 262,200 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Investors Bancorp by 32.4% during the third quarter. Parametric Portfolio Associates LLC now owns 973,544 shares of the savings and loans company’s stock valued at $11,059,000 after buying an additional 238,243 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Investors Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 359,381 shares of the savings and loans company’s stock valued at $4,083,000 after buying an additional 4,292 shares during the last quarter. Finally, Redwood Investment Management LLC grew its stake in shares of Investors Bancorp by 1.2% during the third quarter. Redwood Investment Management LLC now owns 93,209 shares of the savings and loans company’s stock valued at $1,059,000 after buying an additional 1,098 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.
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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