Investors Bancorp (NASDAQ:ISBC) had its price target raised by equities researchers at Royal Bank of Canada from $16.00 to $18.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the savings and loans company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.31% from the stock’s current price.

Separately, Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $13.38.

NASDAQ:ISBC traded up $0.05 during trading hours on Thursday, hitting $14.48. The company had a trading volume of 49,940 shares, compared to its average volume of 4,288,863. The company has a market capitalization of $3.58 billion, a PE ratio of 17.94 and a beta of 1.15. The stock has a 50-day moving average price of $14.09 and a 200 day moving average price of $10.87. Investors Bancorp has a 52 week low of $6.74 and a 52 week high of $15.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.12 and a quick ratio of 1.12.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Tuesday, January 26th. The savings and loans company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $234.59 million for the quarter, compared to analysts’ expectations of $212.88 million. Investors Bancorp had a net margin of 18.26% and a return on equity of 7.73%. During the same quarter in the previous year, the business posted $0.19 earnings per share. Analysts anticipate that Investors Bancorp will post 0.87 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Investors Bancorp in the 4th quarter worth about $29,270,000. UBS Asset Management Americas Inc. raised its position in shares of Investors Bancorp by 2.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 272,782 shares of the savings and loans company’s stock worth $2,881,000 after purchasing an additional 5,480 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Investors Bancorp by 25.7% in the 4th quarter. Hsbc Holdings PLC now owns 230,301 shares of the savings and loans company’s stock worth $2,421,000 after purchasing an additional 47,149 shares during the last quarter. Interval Partners LP raised its position in shares of Investors Bancorp by 76.1% in the 4th quarter. Interval Partners LP now owns 239,191 shares of the savings and loans company’s stock worth $2,526,000 after purchasing an additional 103,393 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Investors Bancorp by 1,447.6% in the 4th quarter. Principal Financial Group Inc. now owns 351,609 shares of the savings and loans company’s stock worth $3,713,000 after purchasing an additional 328,890 shares during the last quarter. 72.45% of the stock is owned by hedge funds and other institutional investors.

About Investors Bancorp

Investors Bancorp, Inc operates as the bank holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.

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