Investors Bancorp Inc (ISBC) Receives $13.73 Average Price Target from Analysts
Shares of Investors Bancorp Inc (NASDAQ:ISBC) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.73.
A number of equities research analysts have commented on ISBC shares. Zacks Investment Research lowered Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. BidaskClub lowered Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Wells Fargo & Co lowered Investors Bancorp from an “outperform” rating to a “market perform” rating and set a $12.14 price objective for the company. in a research report on Friday, February 1st. Finally, Piper Jaffray Companies upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $12.50 to $13.50 in a research report on Friday, February 1st.
Shares of NASDAQ:ISBC traded up $0.09 during midday trading on Friday, reaching $10.58. The company had a trading volume of 1,881,812 shares, compared to its average volume of 2,364,819. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.94. Investors Bancorp has a 1-year low of $9.94 and a 1-year high of $13.75. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.44 annualized dividend and a dividend yield of 4.16%. Investors Bancorp’s dividend payout ratio is 54.32%.
In related news, major shareholder Harbour Group L.P. Blue sold 268,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $12.33, for a total value of $3,305,673.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $11.91, for a total value of $59,550.00. The disclosure for this sale can be found here. 3.49% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in Investors Bancorp by 16.0% in the 1st quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock worth $78,000 after buying an additional 907 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Investors Bancorp by 10.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 15,900 shares of the savings and loans company’s stock worth $188,000 after buying an additional 1,500 shares during the period. Connable Office Inc. increased its position in Investors Bancorp by 4.9% in the 1st quarter. Connable Office Inc. now owns 32,908 shares of the savings and loans company’s stock worth $390,000 after buying an additional 1,525 shares during the period. CIBC World Markets Inc. increased its position in Investors Bancorp by 3.2% in the 1st quarter. CIBC World Markets Inc. now owns 70,940 shares of the savings and loans company’s stock worth $841,000 after buying an additional 2,203 shares during the period. Finally, Advisor Group Inc. increased its position in Investors Bancorp by 978.7% in the 1st quarter. Advisor Group Inc. now owns 2,535 shares of the savings and loans company’s stock worth $30,000 after buying an additional 2,300 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.
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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