Investors Bancorp (NASDAQ:ISBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has a $16.00 price objective on the savings and loans company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.88% from the company’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. “

NASDAQ ISBC traded down $0.10 during trading on Wednesday, reaching $14.43. 2,320,680 shares of the company’s stock traded hands, compared to its average volume of 4,288,863. Investors Bancorp has a 12-month low of $6.74 and a 12-month high of $15.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 17.81 and a beta of 1.15. The company’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $10.87.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Tuesday, January 26th. The savings and loans company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $234.59 million for the quarter, compared to the consensus estimate of $212.88 million. Investors Bancorp had a net margin of 18.26% and a return on equity of 7.73%. During the same period last year, the firm earned $0.19 earnings per share. Research analysts expect that Investors Bancorp will post 0.87 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Investors Bancorp in the fourth quarter valued at about $29,270,000. UBS Asset Management Americas Inc. boosted its holdings in shares of Investors Bancorp by 2.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 272,782 shares of the savings and loans company’s stock valued at $2,881,000 after buying an additional 5,480 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Investors Bancorp by 25.7% in the 4th quarter. Hsbc Holdings PLC now owns 230,301 shares of the savings and loans company’s stock worth $2,421,000 after buying an additional 47,149 shares during the last quarter. Interval Partners LP grew its position in shares of Investors Bancorp by 76.1% in the 4th quarter. Interval Partners LP now owns 239,191 shares of the savings and loans company’s stock worth $2,526,000 after buying an additional 103,393 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Investors Bancorp by 1,447.6% during the 4th quarter. Principal Financial Group Inc. now owns 351,609 shares of the savings and loans company’s stock worth $3,713,000 after acquiring an additional 328,890 shares in the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

About Investors Bancorp

Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.

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