Investors Bancorp Inc (ISBC) Receives $14.92 Consensus Target Price from Analysts
Investors Bancorp Inc (NASDAQ:ISBC) has received an average rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $14.92.
ISBC has been the topic of several recent research reports. ValuEngine cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $14.00 price target on shares of Investors Bancorp in a research note on Friday, July 27th. BidaskClub raised Investors Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. Zacks Investment Research cut Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Finally, Stephens reaffirmed a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a research note on Thursday, August 16th.
Shares of ISBC traded up $0.03 during mid-day trading on Friday, hitting $12.65. 1,320,030 shares of the company’s stock traded hands, compared to its average volume of 2,293,924. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.23 and a current ratio of 1.23. Investors Bancorp has a 1 year low of $12.30 and a 1 year high of $14.69. The stock has a market capitalization of $4.57 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.
The business also recently announced a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, August 9th. Investors Bancorp’s dividend payout ratio (DPR) is 58.06%.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $12.70, for a total value of $63,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.51% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ISBC. Citigroup Inc. boosted its holdings in Investors Bancorp by 31,589.6% in the first quarter. Citigroup Inc. now owns 1,909,618 shares of the savings and loans company’s stock worth $26,048,000 after acquiring an additional 1,903,592 shares in the last quarter. Seizert Capital Partners LLC bought a new position in shares of Investors Bancorp during the first quarter valued at $17,667,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Investors Bancorp by 226.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,522,428 shares of the savings and loans company’s stock valued at $20,766,000 after purchasing an additional 1,055,829 shares in the last quarter. Millennium Management LLC bought a new position in shares of Investors Bancorp during the second quarter valued at $13,344,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Investors Bancorp during the first quarter valued at $12,694,000. 63.47% of the stock is currently owned by institutional investors and hedge funds.
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.
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