Investors Bancorp (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $16.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.03% from the stock’s previous close.

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. “

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Investors Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Sandler O’Neill cut shares of Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Thursday, November 30th. They noted that the move was a valuation call. Keefe, Bruyette & Woods cut shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Piper Jaffray Companies cut shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Wednesday, November 29th. Finally, Barclays increased their price target on shares of Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.44.

Shares of Investors Bancorp (NASDAQ:ISBC) traded down $0.09 on Wednesday, reaching $13.91. 2,071,108 shares of the company’s stock were exchanged, compared to its average volume of 2,523,920. The stock has a market capitalization of $4,283.15, a PE ratio of 21.86, a PEG ratio of 1.98 and a beta of 0.68. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. Investors Bancorp has a twelve month low of $12.48 and a twelve month high of $15.11.

Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. The firm had revenue of $179.31 million for the quarter, compared to analysts’ expectations of $178.16 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. sell-side analysts forecast that Investors Bancorp will post 0.59 EPS for the current fiscal year.

In related news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total value of $68,100.00. Following the sale, the director now owns 157,188 shares in the company, valued at $2,140,900.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.96% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC purchased a new stake in Investors Bancorp in the third quarter worth approximately $187,000. Cubist Systematic Strategies LLC purchased a new stake in Investors Bancorp in the third quarter worth approximately $316,000. Beacon Investment Advisory Services Inc. boosted its holdings in Investors Bancorp by 118.0% in the third quarter. Beacon Investment Advisory Services Inc. now owns 730,076 shares of the savings and loans company’s stock worth $9,958,000 after purchasing an additional 395,181 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Investors Bancorp by 20.8% in the third quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock worth $62,090,000 after purchasing an additional 783,442 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Investors Bancorp by 36.2% in the third quarter. Jane Street Group LLC now owns 44,680 shares of the savings and loans company’s stock worth $609,000 after purchasing an additional 11,885 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

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Investors Bancorp Company Profile

Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is 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.

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Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

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