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UPDATE: FIG Partners Initiates Coverage on Investors Bancorp on Very Positive Outlook

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In a report published Friday, FIG Partners analyst Christopher Marinac initiated coverage on Investor Bancorp (NASDAQ: ISBC) with a Market Perform rating and $25.75 price target.

In the report, FIG Partners noted, “We are initiating coverage with a ‘Market-Perform' rating and Price Target of $25.75 per share via the existing shares outstanding. The company is soon expected to close two(2) merger transactions that create a $15.6 Billion balance sheet with approximately 8.5% tangible capital. In addition, ISBC may reorganize its mutual holding company (MHC) structure and complete a 2nd Step Conversion into a 100% stock-owned institution. These strategic changes position the company for significant growth over the next several years which includes a revised Loan portfolio and Deposit mix since pro forma tangible capital would rise above 18% of Assets. We think the ISBC management team intends to enhance its Core Deposits within a strong commercial loan mix in the future which can generate higher profits and a larger core deposit premium within its stock price. This does not occur immediately, but rather over time as excess capital is leveraged into new loans and new customer deposits are organically produced.”

Investors Bancorp closed on Wednesday at $24.16.

Latest Ratings for ISBC

DateFirmActionFromTo
Feb 2019UpgradesMarket PerformOutperform
Feb 2019UpgradesNeutralOverweight
May 2018UpgradesUnderweightEqual-Weight

View More Analyst Ratings for ISBC
View the Latest Analyst Ratings

Posted-In: Christopher Marinac FIG PartnersAnalyst Color Initiation Analyst Ratings

 

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