Investors Bancorp, Inc. (ISBC) Receives $15.08 Average PT from Brokerages
Investors Bancorp, Inc. (NASDAQ:ISBC) has earned a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.08.
Several brokerages recently issued reports on ISBC. Stephens began coverage on shares of Investors Bancorp in a research report on Thursday, July 13th. They issued an “overweight” rating and a $16.00 target price for the company. Zacks Investment Research lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 target price on shares of Investors Bancorp in a research report on Friday, July 7th.
In other Investors Bancorp news, Director Brian D. Dittenhafer sold 22,500 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $13.05, for a total value of $293,625.00. Following the completion of the sale, the director now directly owns 350,388 shares of the company’s stock, valued at $4,572,563.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Cashill sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total transaction of $327,000.00. Following the completion of the sale, the director now directly owns 756,902 shares of the company’s stock, valued at $9,900,278.16. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $720,000 over the last quarter. 2.96% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of ISBC. BlackRock Inc. lifted its stake in Investors Bancorp by 24,033.7% in the first quarter. BlackRock Inc. now owns 19,801,226 shares of the savings and loans company’s stock worth $284,740,000 after purchasing an additional 19,719,178 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock worth $118,659,000 after purchasing an additional 3,950,175 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Investors Bancorp in the second quarter worth $50,349,000. MARSHALL WACE ASIA Ltd bought a new stake in Investors Bancorp in the first quarter worth $23,904,000. Finally, Marshall Wace North America L.P. bought a new stake in Investors Bancorp in the first quarter worth $23,904,000. 74.21% of the stock is owned by institutional investors and hedge funds.
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Shares of Investors Bancorp (ISBC) traded up 2.09% on Friday, hitting $13.65. The stock had a trading volume of 4,205,991 shares. The company has a market capitalization of $4.04 billion, a PE ratio of 21.29 and a beta of 0.70. The firm has a 50-day moving average of $13.13 and a 200 day moving average of $13.56. Investors Bancorp has a 1-year low of $11.58 and a 1-year high of $15.11.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Investors Bancorp had a return on equity of 5.79% and a net margin of 20.91%. The company had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $179.25 million. During the same quarter last year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that Investors Bancorp will post $0.56 earnings per share for the current fiscal year.
About Investors Bancorp
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.
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