Investors Bancorp (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $16.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.36% from the company’s previous close.

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. “

Several other brokerages also recently issued reports on ISBC. BidaskClub downgraded shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies downgraded shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research report on Wednesday, November 29th. Keefe, Bruyette & Woods downgraded shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Barclays upped their target price on shares of Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Finally, Sandler O’Neill downgraded shares of Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Thursday, November 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.44.

Investors Bancorp (NASDAQ ISBC) opened at $13.87 on Wednesday. The stock has a market cap of $4,286.21, a PE ratio of 21.88, a P/E/G ratio of 1.98 and a beta of 0.68. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. Investors Bancorp has a 52-week low of $12.48 and a 52-week high of $15.11.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $179.31 million for the quarter, compared to the consensus estimate of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. During the same quarter in the prior year, the company earned $0.15 EPS. analysts forecast that Investors Bancorp will post 0.59 earnings per share for the current year.

In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $13.62, for a total transaction of $68,100.00. Following the transaction, the director now directly owns 157,188 shares in the company, valued at approximately $2,140,900.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.96% of the company’s stock.

Several hedge funds have recently made changes to their positions in ISBC. US Bancorp DE increased its stake in shares of Investors Bancorp by 2.7% in the 2nd quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock valued at $189,000 after acquiring an additional 374 shares during the last quarter. Sei Investments Co. increased its stake in shares of Investors Bancorp by 17.6% in the 2nd quarter. Sei Investments Co. now owns 357,666 shares of the savings and loans company’s stock valued at $4,779,000 after acquiring an additional 53,583 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Investors Bancorp by 0.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,889,633 shares of the savings and loans company’s stock valued at $25,246,000 after acquiring an additional 5,189 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Investors Bancorp in the 2nd quarter valued at about $1,394,000. Finally, Denver Investment Advisors LLC increased its stake in shares of Investors Bancorp by 40.0% in the 2nd quarter. Denver Investment Advisors LLC now owns 185,763 shares of the savings and loans company’s stock valued at $2,482,000 after acquiring an additional 53,060 shares during the last quarter. 78.62% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/12/15/zacks-investment-research-upgrades-investors-bancorp-isbc-to-buy.html.

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.

Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

Receive News & Stock Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related stocks with our FREE daily email newsletter.