Market Overview

UPDATE: Sterne Agee Upgrades Investors Bancorp to Buy Following Sell-Off

Related ISBC
SALT 2015: Fighting The Fed, Activists And The Loeb-Buffett Rant
M&A, Niche Services Among Topics Discussed At U.S. Banks Investor Forum

Sterne Agee raised its rating on Investors Bancorp (NASDAQ: ISBC) from Neutral to Buy with a $19 price target.

Sterne Agee noted, "After a recent sell-off, we are upgrading Investors Bancorp to Buy from Neutral. Over the last month, the shares are down 10.4%, compared to the NASDAQ Bank index which is down 5.6%. … - In our view, the company will ultimately be able to bring a deal to market at a price to fully converted TBV range of 94%-98%, down slightly from our prior commentary of "at or slightly above fully converted TBV." An offering in this area would produce fully converted TBVs in current terms of $16.87-$17.60 per share based on 12/31/12 balance sheet data."

Investors Bancorp closed at $16.29 on Friday.

Latest Ratings for ISBC

Nov 2014BarclaysMaintainsEqual-weight
Jul 2014Guggenheim SecuritiesDowngradesBuyNeutral
Jun 2014Deutsche BankMaintainsHold

View More Analyst Ratings for ISBC
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


Related Articles (ISBC)

Around the Web, We're Loving...