Investors Bancorp (NASDAQ:ISBC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Investors Bancorp (NASDAQ:ISBC) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

Several other brokerages have also recently commented on ISBC. BidaskClub raised ZIX from a buy rating to a strong-buy rating in a report on Friday, May 3rd. ValuEngine cut shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $13.61.

ISBC opened at $11.13 on Tuesday. Investors Bancorp has a one year low of $9.94 and a one year high of $13.12. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.24 and a quick ratio of 1.23. The firm’s 50 day moving average is $10.82. The company has a market capitalization of $3.10 billion, a PE ratio of 13.74, a P/E/G ratio of 1.25 and a beta of 0.94.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Investors Bancorp had a return on equity of 7.30% and a net margin of 19.18%. The company had revenue of $173.87 million for the quarter, compared to analyst estimates of $181.65 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Investors Bancorp will post 0.74 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ISBC. Toronto Dominion Bank lifted its position in Investors Bancorp by 16.0% during the 1st quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock worth $78,000 after acquiring an additional 907 shares during the last quarter. Fort Sheridan Advisors LLC acquired a new position in Investors Bancorp during the 1st quarter worth $130,000. Two Sigma Securities LLC acquired a new position in Investors Bancorp during the 4th quarter worth $131,000. Weiss Asset Management LP acquired a new position in Investors Bancorp during the 1st quarter worth $151,000. Finally, Public Employees Retirement System of Ohio lifted its position in Investors Bancorp by 147.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,624 shares of the savings and loans company’s stock worth $152,000 after acquiring an additional 8,720 shares during the last quarter. 74.00% of the stock is owned by hedge funds and other institutional investors.

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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