Market Overview

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

Share:
Related ISBC
Who Is The Best Paid Banking CEO In America?
Community Bank Chief Sees Opportunity In Regulatory Burdens
Notable earnings after Wednesday's close (Seeking Alpha)

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

DateFirmActionFromTo
Jan 2016Compass PointDowngradesNeutralSell
Oct 2015Compass PointDowngradesBuyNeutral
Oct 2015Wells FargoDowngradesOutperformMarket Perform

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)

View Comments and Join the Discussion!