Shares of Investors Bancorp, Inc. (NASDAQ:ISBC) have been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $14.73.
A number of equities analysts recently issued reports on the stock. Janney Montgomery Scott downgraded shares of Investors Bancorp from a “buy” rating to a “neutral” rating and set a $14.50 price objective on the stock. in a report on Thursday, July 29th. Wells Fargo & Company lowered Investors Bancorp from an “overweight” rating to an “equal weight” rating and set a $14.65 price target for the company. in a research note on Friday, July 30th. Stephens raised Investors Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $15.50 to $17.50 in a research note on Friday, August 20th. Finally, Keefe, Bruyette & Woods upgraded Investors Bancorp from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 29th.
Shares of ISBC opened at $13.83 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.43. Investors Bancorp has a 1-year low of $6.74 and a 1-year high of $15.71. The firm’s 50-day moving average price is $13.87 and its 200-day moving average price is $14.35. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.15 and a beta of 1.16.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 25th. Shareholders of record on Tuesday, August 10th were given a dividend of $0.14 per share. The ex-dividend date was Monday, August 9th. This represents a $0.56 annualized dividend and a dividend yield of 4.05%. Investors Bancorp’s dividend payout ratio (DPR) is presently 59.57%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new position in Investors Bancorp in the 1st quarter valued at $29,000. Versant Capital Management Inc grew its holdings in shares of Investors Bancorp by 112.0% in the second quarter. Versant Capital Management Inc now owns 2,251 shares of the savings and loans company’s stock worth $32,000 after purchasing an additional 1,189 shares during the last quarter. Eaton Vance Management purchased a new position in Investors Bancorp in the 1st quarter worth about $43,000. Harvest Fund Management Co. Ltd purchased a new position in Investors Bancorp in the 1st quarter worth about $47,000. Finally, Advisory Services Network LLC purchased a new stake in Investors Bancorp in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 75.11% of the company’s stock.
Investors Bancorp Company Profile
Investors Bancorp, Inc operates as a bank holding, which engages in the provision of banking services. It offers personal, small business, and commercial banking solutions. Its services include financial education, lending, investments and planning, treasury management, and industry. The company was founded in 1926 and is headquartered in Short Hills, NJ.
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