Investors Bancorp Inc. (ISBC) shares are trading at lower $8.00 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $10.57.
To add more color to this target, the company’s high over the last year is $12.63 and the low is $6.31. Over the last 52 weeks, ISBC is down -35.79% while the S&P 500 is up 11.51%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, ISBC reported a profit of $181.99 million. Investors Bancorp Inc. also saw revenues increase to $246.21 million. In addition, ISBC has free cash flow of $3.37 million as of 06-2020.
ISBC booked profit margins of 17.80%, its Return on Equity (ROE) is 6.80%, and its Return on Assets is 0.70%. All told, it is clear that, ISBC needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ISBC has a short ratio of 6.24 and outstanding shares of 236.25M.
ISBC has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 0.74. Investors should also keep an eye on sector updates as ISBC has historically followed its peers on positive news.
All told, Investors Bancorp Inc. ISBC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ISBC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Investors Bancorp Inc. ISBC is now commanding a market cap of 1.98B and a float of 228.56M. ISBC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ISBC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in ISBC, either long or short, and we have not been compensated for this article.