Investors Bancorp Inc. (NASDAQ:ISBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

Separately, Piper Jaffray Cos. raised Investors Bancorp from a “neutral” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.70.

Shares of Investors Bancorp (NASDAQ:ISBC) opened at 11.78 on Thursday. The stock has a market capitalization of $3.54 billion, a P/E ratio of 20.31 and a beta of 0.70. The firm’s 50-day moving average price is $11.97 and its 200 day moving average price is $11.61. Investors Bancorp has a 1-year low of $10.67 and a 1-year high of $13.13.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Investors Bancorp had a return on equity of 5.44% and a net margin of 22.58%. During the same period last year, the firm earned $0.14 EPS. Analysts expect that Investors Bancorp will post $0.59 EPS for the current fiscal year.

In related news, VP Richard Spengler sold 109,999 shares of Investors Bancorp stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $11.85, for a total value of $1,303,488.15. Following the completion of the transaction, the vice president now directly owns 870,211 shares in the company, valued at $10,312,000.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doreen R. Byrnes sold 40,000 shares of Investors Bancorp stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $11.71, for a total value of $468,400.00. Following the completion of the transaction, the director now owns 221,263 shares of the company’s stock, valued at $2,590,989.73. The disclosure for this sale can be found here. Insiders own 3.44% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ISBC. Tradition Capital Management LLC purchased a new position in Investors Bancorp during the second quarter worth approximately $110,000. Pacer Advisors Inc. purchased a new position in Investors Bancorp during the second quarter worth approximately $115,000. CHICAGO TRUST Co NA purchased a new position in Investors Bancorp during the second quarter worth approximately $127,000. Jefferies Group LLC purchased a new position in Investors Bancorp during the second quarter worth approximately $132,000. Finally, Huntington Asset Advisors Inc. purchased a new position in Investors Bancorp during the first quarter worth approximately $150,000. Institutional investors and hedge funds own 76.67% of the company’s stock.

Investors Bancorp Company Profile

Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is 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.

5 Day Chart for NASDAQ:ISBC

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