Zacks Investment Research upgraded shares of Investors Bancorp (NASDAQ:ISBC) from a sell rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on ISBC. BidaskClub upgraded shares of ZIX from a buy rating to a strong-buy rating in a research report on Friday, May 3rd. ValuEngine cut shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Investors Bancorp currently has an average rating of Hold and a consensus price target of $13.61.

Shares of Investors Bancorp stock opened at $11.24 on Tuesday. Investors Bancorp has a twelve month low of $9.94 and a twelve month high of $13.12. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.94. The business has a 50-day simple moving average of $10.84. The firm has a market cap of $3.13 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94.

Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, April 24th. The savings and loans company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $173.87 million during the quarter, compared to analyst estimates of $181.65 million. Investors Bancorp had a net margin of 19.18% and a return on equity of 7.30%. During the same quarter in the previous year, the firm posted $0.20 earnings per share. On average, equities analysts forecast that Investors Bancorp will post 0.74 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in shares of Investors Bancorp by 16.0% during the 1st quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock valued at $78,000 after purchasing an additional 907 shares during the last quarter. Connable Office Inc. grew its holdings in Investors Bancorp by 4.9% during the 1st quarter. Connable Office Inc. now owns 32,908 shares of the savings and loans company’s stock worth $390,000 after acquiring an additional 1,525 shares during the last quarter. CIBC World Markets Inc. grew its holdings in Investors Bancorp by 3.2% during the 1st quarter. CIBC World Markets Inc. now owns 70,940 shares of the savings and loans company’s stock worth $841,000 after acquiring an additional 2,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Investors Bancorp by 3.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,046 shares of the savings and loans company’s stock worth $739,000 after acquiring an additional 2,359 shares during the last quarter. Finally, HRT Financial LLC grew its holdings in Investors Bancorp by 19.0% during the 4th quarter. HRT Financial LLC now owns 22,005 shares of the savings and loans company’s stock worth $228,000 after acquiring an additional 3,510 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors.

About Investors Bancorp

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.

Recommended Story: What is the formula for the cash asset ratio?

Get a free copy of the Zacks research report on Investors Bancorp (ISBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

Receive News & Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.