Investors Bancorp (ISBC) Lifted to “Hold” at BidaskClub
Investors Bancorp (NASDAQ:ISBC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.
Several other analysts also recently weighed in on the company. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, November 8th. Piper Jaffray Companies downgraded Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods downgraded Investors Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Sandler O’Neill downgraded Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Finally, Barclays lifted their target price on Investors Bancorp from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.50.
Shares of Investors Bancorp (ISBC) traded up $0.26 during trading on Thursday, reaching $14.31. The company’s stock had a trading volume of 2,410,000 shares, compared to its average volume of 2,500,000. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.42. The company has a market cap of $4,300.00, a P/E ratio of 22.71, a P/E/G ratio of 1.73 and a beta of 0.53. Investors Bancorp has a 52-week low of $12.48 and a 52-week high of $15.11.
In other news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $13.94, for a total transaction of $69,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.96% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Citigroup Inc. increased its position in shares of Investors Bancorp by 45.7% during the 2nd quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock valued at $146,000 after purchasing an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Investors Bancorp by 6.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock valued at $156,000 after purchasing an additional 739 shares during the period. Gotham Asset Management LLC increased its position in shares of Investors Bancorp by 17.1% during the 2nd quarter. Gotham Asset Management LLC now owns 13,305 shares of the savings and loans company’s stock valued at $178,000 after purchasing an additional 1,941 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Investors Bancorp during the 3rd quarter valued at $187,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Investors Bancorp during the 2nd quarter valued at $193,000. Institutional investors own 78.52% 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.
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