Investors Bancorp (ISBC) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Investors Bancorp (NASDAQ:ISBC) from a hold rating to a sell rating in a report released on Wednesday.

Other research analysts have also recently issued reports about the company. Wells Fargo & Co upgraded Investors Bancorp from a market perform rating to an outperform rating and upped their price objective for the company from $12.00 to $15.00 in a report on Thursday, January 31st. Piper Jaffray Companies raised Investors Bancorp from a neutral rating to an overweight rating and boosted their target price for the company from $12.50 to $13.50 in a research report on Friday, February 1st. BidaskClub raised Investors Bancorp from a sell rating to a hold rating in a research report on Tuesday, February 12th. Zacks Investment Research raised Investors Bancorp from a hold rating to a buy rating and set a $13.00 target price on the stock in a research report on Friday, January 18th. Finally, Barclays reissued a hold rating and issued a $14.00 target price on shares of Investors Bancorp in a research report on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $13.88.

ISBC opened at $11.75 on Wednesday. Investors Bancorp has a one year low of $9.94 and a one year high of $14.20. The company has a market capitalization of $3.37 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.23 and a current ratio of 1.23.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, January 30th. The savings and loans company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Investors Bancorp had a return on equity of 7.54% and a net margin of 20.70%. The firm had revenue of $148.51 million for the quarter, compared to analysts’ expectations of $175.20 million. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, analysts anticipate that Investors Bancorp will post 0.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 25th. Stockholders of record on Monday, February 11th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, February 8th. Investors Bancorp’s dividend payout ratio is currently 54.32%.

In other news, Director Doreen R. Byrnes sold 30,000 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $12.74, for a total transaction of $382,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Harbour Group L.P. Blue sold 268,100 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $12.33, for a total value of $3,305,673.00. The disclosure for this sale can be found here. Insiders have sold 303,100 shares of company stock worth $3,739,273 in the last ninety days. Corporate insiders own 3.51% of the company’s stock.

Several institutional investors have recently bought and sold shares of ISBC. Scopia Capital Management LP increased its position in shares of Investors Bancorp by 28.8% during the third quarter. Scopia Capital Management LP now owns 14,190,051 shares of the savings and loans company’s stock worth $174,112,000 after acquiring an additional 3,168,837 shares during the period. Norges Bank purchased a new stake in shares of Investors Bancorp during the fourth quarter worth $28,230,000. Marshall Wace LLP purchased a new stake in shares of Investors Bancorp during the third quarter worth $22,623,000. Shoals Capital Management LP purchased a new stake in shares of Investors Bancorp during the fourth quarter worth $18,200,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Investors Bancorp by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock worth $99,581,000 after acquiring an additional 1,082,081 shares during the period. 75.09% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Investors Bancorp (NASDAQ:ISBC)

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