Piper Jaffray Companies Reaffirms “Buy” Rating for Investors Bancorp, Inc. (ISBC)
Investors Bancorp, Inc. (NASDAQ:ISBC)‘s stock had its “buy” rating reiterated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Thursday. They currently have a $15.00 target price on the savings and loans company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 11.77% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Stephens set a $16.00 target price on shares of Investors Bancorp and gave the stock a “buy” rating in a report on Friday, July 28th. BidaskClub lowered shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Investors Bancorp in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Deutsche Bank AG lowered their target price on shares of Investors Bancorp from $15.00 to $14.50 and set a “hold” rating for the company in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.21.
Investors Bancorp (NASDAQ ISBC) traded up 1.36% during trading on Thursday, hitting $13.42. 2,316,030 shares of the company’s stock were exchanged. Investors Bancorp has a 52-week low of $11.10 and a 52-week high of $15.11. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 20.94 and a beta of 0.70. The firm has a 50 day moving average price of $13.28 and a 200 day moving average price of $13.88.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $176.38 million during the quarter, compared to the consensus estimate of $179.25 million. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. During the same quarter last year, the business posted $0.15 EPS. On average, equities research analysts predict that Investors Bancorp will post $0.56 earnings per share for the current year.
In related news, VP Paul Kalamaras sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $13.59, for a total value of $1,630,800.00. Following the transaction, the vice president now owns 725,827 shares of the company’s stock, valued at approximately $9,863,988.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. World Asset Management Inc increased its position in Investors Bancorp by 0.7% in the first quarter. World Asset Management Inc now owns 10,909 shares of the savings and loans company’s stock valued at $157,000 after buying an additional 72 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Investors Bancorp during the first quarter worth approximately $163,000. TFS Capital LLC acquired a new position in Investors Bancorp during the first quarter worth approximately $164,000. Bronfman E.L. Rothschild L.P. increased its position in Investors Bancorp by 17.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 11,661 shares of the savings and loans company’s stock worth $168,000 after buying an additional 1,735 shares during the period. Finally, US Bancorp DE increased its position in Investors Bancorp by 4.1% in the first quarter. US Bancorp DE now owns 13,703 shares of the savings and loans company’s stock worth $198,000 after buying an additional 546 shares during the period. 77.35% of the stock is currently owned by institutional investors.
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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