Zacks Investment Research downgraded shares of Investors Bancorp (NASDAQ:ISBC) from a buy rating to a hold rating in a research report report published 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. “

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ISBC has been the subject of a number of other reports. Sandler O’Neill reiterated a hold rating and issued a $15.00 price target on shares of Investors Bancorp in a research report on Friday, January 26th. BidaskClub lowered shares of Investors Bancorp from a hold rating to a sell rating in a research report on Friday, January 19th. Barclays dropped their price target on shares of Investors Bancorp from $15.00 to $14.00 and set an underweight rating for the company in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $15.50 price target on shares of Investors Bancorp in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies lowered shares of Investors Bancorp from an overweight rating to a neutral rating and set a $15.00 price target for the company. in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $15.31.

Investors Bancorp (NASDAQ ISBC) opened at $14.34 on Thursday. The firm has a market cap of $4,360.00, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.50. Investors Bancorp has a 12-month low of $12.48 and a 12-month high of $14.85. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.20.

Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $182.91 million during the quarter, compared to analyst estimates of $181.14 million. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.71%. During the same period in the prior year, the business posted $0.18 earnings per share. sell-side analysts anticipate that Investors Bancorp will post 0.76 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.51%. Investors Bancorp’s dividend payout ratio is 83.72%.

In related news, CFO P. Sean Burke sold 50,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $14.17, for a total transaction of $708,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William V. Cosgrove sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total transaction of $1,338,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,000 shares of company stock valued at $2,116,200. 2.96% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado purchased a new stake in shares of Investors Bancorp in the fourth quarter valued at $117,000. Cerebellum GP LLC purchased a new stake in shares of Investors Bancorp in the fourth quarter valued at $125,000. Raymond James & Associates purchased a new stake in shares of Investors Bancorp in the fourth quarter valued at $143,000. Gotham Asset Management LLC purchased a new stake in shares of Investors Bancorp in the fourth quarter valued at $145,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Investors Bancorp in the fourth quarter valued at $172,000. Hedge funds and other institutional investors own 78.85% of the company’s stock.

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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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