Investors Bancorp (ISBC) Cut to “Sell” at ValuEngine
ValuEngine downgraded shares of Investors Bancorp (NASDAQ:ISBC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
A number of other equities analysts also recently weighed in on ISBC. BidaskClub upgraded Investors Bancorp from a sell rating to a hold rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded Investors Bancorp from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Wednesday, July 4th. Royal Bank of Canada reaffirmed a buy rating and issued a $14.00 price target on shares of Investors Bancorp in a report on Friday, July 27th. Finally, Stephens reaffirmed a buy rating and issued a $15.00 price target on shares of Investors Bancorp in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $14.79.
Shares of NASDAQ ISBC opened at $12.65 on Thursday. Investors Bancorp has a twelve month low of $12.30 and a twelve month high of $14.69. The company has a market capitalization of $4.57 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.66.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.85%. Investors Bancorp’s dividend payout ratio (DPR) is presently 58.06%.
In related news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $12.70, for a total value of $63,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.51% of the company’s stock.
Several large investors have recently bought and sold shares of ISBC. Citigroup Inc. raised its holdings in shares of Investors Bancorp by 31,589.6% in the 1st quarter. Citigroup Inc. now owns 1,909,618 shares of the savings and loans company’s stock worth $26,048,000 after purchasing an additional 1,903,592 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Investors Bancorp in the 1st quarter worth approximately $17,667,000. BNP Paribas Arbitrage SA raised its holdings in shares of Investors Bancorp by 226.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,522,428 shares of the savings and loans company’s stock worth $20,766,000 after purchasing an additional 1,055,829 shares during the period. Millennium Management LLC bought a new stake in shares of Investors Bancorp in the 2nd quarter worth approximately $13,344,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Investors Bancorp in the 1st quarter worth approximately $12,694,000. 63.47% of the stock is currently owned by institutional investors.
Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the 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, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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