Investors Bancorp Short Interest Up 29.3% in June (ISBC)
Shares of Investors Bancorp (NASDAQ:ISBC) were the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 8,052,556 shares, a growth of 29.3% from the June 13th total of 6,228,797 shares, Analyst Ratings Network reports. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 9,797,230 shares, the days-to-cover ratio is currently 0.8 days.
ISBC has been the subject of a number of recent research reports. Analysts at Guggenheim downgraded shares of Investors Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $11.75 price target on the stock, down previously from $12.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Investors Bancorp in a research note on Friday, June 27th. They now have a $12.00 price target on the stock, down previously from $25.00. Finally, analysts at RBC Capital raised their price target on shares of Investors Bancorp from $10.00 to $13.00 in a research note on Thursday, June 12th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.21.
Investors Bancorp (NASDAQ:ISBC) opened at 10.81 on Wednesday. Investors Bancorp has a 52 week low of $8.0071 and a 52 week high of $11.2632. The stock’s 50-day moving average is $10.94 and its 200-day moving average is $10.5. The company has a market cap of $3.718 billion and a price-to-earnings ratio of 27.27.
Investors Bancorp, Inc is a holding company for Investors Bank (NASDAQ:ISBC).
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