Investors Bancorp (NASDAQ:ISBC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
ISBC has been the subject of a number of other reports. Barclays upped their price target on Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, October 30th. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Investors Bancorp in a research note on Friday, December 22nd. Piper Jaffray Companies cut Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Wednesday, November 29th. Finally, Sandler O’Neill cut Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.50.
Shares of Investors Bancorp (ISBC) traded up $0.21 during trading hours on Friday, reaching $14.40. The company’s stock had a trading volume of 3,257,970 shares, compared to its average volume of 1,529,207. The company has a market cap of $4,408.67, a PE ratio of 22.50, a P/E/G ratio of 1.66 and a beta of 0.68. Investors Bancorp has a 12-month low of $12.48 and a 12-month high of $15.11. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.20 and a quick ratio of 1.20.
In related news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $13.94, for a total value of $69,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.96% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in shares of Investors Bancorp in the 2nd quarter valued at approximately $216,000. OxFORD Asset Management LLP acquired a new position in shares of Investors Bancorp in the 2nd quarter valued at approximately $373,000. Independent Investors Inc. acquired a new position in shares of Investors Bancorp in the 3rd quarter valued at approximately $697,000. EJF Capital LLC acquired a new position in shares of Investors Bancorp in the 3rd quarter valued at approximately $6,820,000. Finally, Beacon Investment Advisory Services Inc. grew its position in shares of Investors Bancorp by 118.0% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 730,076 shares of the savings and loans company’s stock valued at $9,958,000 after purchasing an additional 395,181 shares during the period. Institutional investors and hedge funds own 78.52% of the company’s stock.
About Investors Bancorp
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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