Investors Bancorp, Inc. (NASDAQ:ISBC) has been upgraded by Sandler O’Neill, which now rates the stock as Buy versus Hold prior rating , according to a note issued on April 05. Analysts at Barclays, maintained the company shares at Underweight on January 02 but switched target price from $14 to $15. The stock lost favor of Sandler O’Neill analysts who expressed their lack of confidence in it using a downgrade from Buy to Hold on November 30. Piper Jaffray analysts came out with bearish views on November 29 when the call was made. They think the stock is now Neutral compared to to their prior call for Overweight.
Investors Bancorp, Inc. (ISBC) hit an intraday high Thursday at $12.03. The shares finished at $11.98, after trading as low as $11.61 earlier in the session. It rose 1.27% in recent trade and currently has a stock-market value of $3.44B. Trading activity significantly improved as the volume at ready counter increased to 3,107,467 shares versus 2,888,835 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,404,704 shares. The stock is now 16.65% above against its bear-market low of $10.27 on October 24, 2018. It has retreated -22.62% since it’s 52-week high of $14.69 reached in January. Now the market price is down -15.63% on the year and down -13.69% YTD.
ISBC’s 50 day simple moving average (SMA 50) price is $11.83 and its 200-day simple moving average (SMA 200) price is $12.9. The company’s stock currently has a total float of 267.54M shares. Its weekly volatility is hovering around 3.13% and felt 3.05% volatility in price over a month. On the upside, the share price will test short term resistance at around $12.14. On a downside, the stock is likely to find some support, which begins at $11.72. The failure to get near-term support could push it to $11.45.
Separately, it has been reported that multiple insider activity took place at Investors Bancorp, Inc. (ISBC). Director Carlin Peter acquired 1,000 shares for $1,000 in transaction occurred on 2018/07/31. After making this transaction, the Director owns a direct stake of 12,560 shares, worth $11,980, as per the last closing price. On 2018/07/02 Albanese Robert C, Director at ISBC, dumped 5,000 shares at an average price of $12.7 per share. The selling total is valued at $1,820,816.
Director, Siekerka Michele N had divested 70,606 shares for $182,268 through a trade on 2018/06/05. Following this activity, the insider holds 953,181 shares worth $2,183,571 as of recent close. Wall Street’s most bullish Investors Bancorp, Inc. (NASDAQ:ISBC) analysts are predicting the share price to blow past $15 per share during the next 12 months. The current median share price forecast by them is $13, suggesting that the stock could increase 8.51% in that time frame. The average price target of $13.25 calls for a nearly 10.6% increase in the stock price.
When looking at valuations, Investors Bancorp, Inc. (ISBC) has a cheap P/E of 16.04x as compared to industry average of 19.02x. Moreover, it trades for 15.62 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.11x price/book and 3.64x price/sales. Compared to others, Investors Bancorp, Inc. is in a different league with regards to profitability, having net margins of 17.4%. To put some perspective around this, the industry’s average net margin is 29.87%. ISBC’s ROE is 5.3%, which is also considerably worse than the industry’s ROE of 16.14%.
Shares of Investors Bancorp, Inc. (ISBC) have gained 10.8% since the company’s last earnings report. Over the past 12 fiscal quarters, Investors Bancorp, Inc. (NASDAQ:ISBC) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 1 quarters (8%), whereas at 4 occasion EPS met analyst expectations. Revenue for the recent quarter stood at $166.93 million, down -2% on last year and below the $171.96 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $162.1 million to $166.9 million, which should be compared with $178.9 million generated last year. EPS is seen in a range of $0.18 to $0.19, against the $0.17 reported a year ago.