Investors

Stephens Lowers Investors Bancorp (NASDAQ:ISBC) to Equal Weight

Investors Bancorp, Inc. logoStephens lowered shares of Investors Bancorp (NASDAQ:ISBC) from an overweight rating to an equal weight rating in a report published on Wednesday, Price Targets.com reports. Stephens currently has $15.50 target price on the savings and loans company’s stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada raised their target price on shares of Investors Bancorp from $16.00 to $18.00 and gave the stock an outperform rating in a research report on Thursday, April 8th. Keefe, Bruyette & Woods assumed coverage on shares of Investors Bancorp in a research report on Monday, April 26th. They set a market perform rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Investors Bancorp from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research note on Wednesday, April 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Investors Bancorp has an average rating of Buy and an average price target of $14.90.

NASDAQ ISBC opened at $14.70 on Wednesday. The company has a fifty day moving average of $14.77 and a two-hundred day moving average of $11.98. The company has a market capitalization of $3.64 billion, a PE ratio of 18.15 and a beta of 1.15. Investors Bancorp has a 1 year low of $6.74 and a 1 year high of $15.71. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.12 and a quick ratio of 1.12.

Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Tuesday, April 27th. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $200.74 million during the quarter, compared to analysts’ expectations of $203.62 million. Investors Bancorp had a return on equity of 7.73% and a net margin of 18.26%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, research analysts expect that Investors Bancorp will post 0.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 25th. Investors of record on Monday, May 10th will be given a $0.14 dividend. The ex-dividend date is Friday, May 7th. This represents a $0.56 dividend on an annualized basis and a yield of 3.81%. Investors Bancorp’s dividend payout ratio (DPR) is 72.73%.

A number of institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Investors Bancorp in the first quarter valued at about $44,000. Private Capital Group LLC lifted its position in Investors Bancorp by 71.1% in the first quarter. Private Capital Group LLC now owns 3,519 shares of the savings and loans company’s stock valued at $52,000 after purchasing an additional 1,462 shares during the period. Toronto Dominion Bank purchased a new stake in Investors Bancorp in the 4th quarter valued at approximately $66,000. Jefferies Group LLC purchased a new stake in Investors Bancorp in the 4th quarter valued at approximately $110,000. Finally, Strs Ohio acquired a new position in Investors Bancorp during the 1st quarter worth approximately $110,000. 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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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 25th. Investors of record on Monday, May 10th will be given a $0.14 dividend. The ex-dividend date is Friday, May 7th. This represents a $0.56 dividend on an annualized basis and a yield of 3.81%. Investors Bancorp’s dividend payout ratio (DPR) is 72.73%.

Source: https://www.themarketsdaily.com/2021/05/09/stephens-lowers-investors-bancorp-nasdaqisbc-to-equal-weight.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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