A Point Investors Can’t Afford To Forget: MGIC Investment Corporation (MTG), Investors Bancorp, Inc. (ISBC) – The RNS Daily

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MTG trading volume has lost -567130 shares compared to readings over the past three months as it recently exchanged 1882870 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2450000 shares, and this is 0.77 times the normal volume. A look at its technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 57.87 point.

MGIC Investment Corporation (NYSE:MTG) climbed by 24.89% over the past three months which led to its overall six-month increase to stand at 14.14%. The equity price sank -2.34% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that its shares have recorded a 5.26% gain over the past 30 days. Over the past 12 months the stock has embarked on a rally that has seen it rise 28.13% and is now up by 31.93% since start of this year.

The shares of MGIC Investment Corporation dropped by -2.4% or -$0.34 from its last recorded high of $14.14 which it attained on August 04 to close at $13.8 per share. Over the past 52 weeks, the shares of MGIC Investment Corporation has been trading as low as $9.41 before witnessing a massive surge by 46.65% or $4.39. This price movement has led to the MTG stock receiving more attention and has become one to watch out for. It dipped by -1.15% on Monday and this got the market worried. The stock’s beta now stands at 1.8 and when compared to its 200-day moving average and its 50-day moving average, MTG price stands 12.75% above and 4.93% above respectively. Its average daily volatility for this week is 2.22% which is less than the 2.27% recorded over the past month.

Experts from research firms are bullish about the near-term performance of MGIC Investment Corporation (MTG) with most of them predicting a $15.85 price target on a short-term (12 months) basis. The average price target by the analysts will see a 14.86% rise in the stock and would lead to MTG’s market cap to surge to $5.62B. The stock has been rated an average 2.1, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 12 analysts that track MGIC Investment Corporation (NYSE:MTG) and find out that 2 of them rated it as a Hold. 9 of the 10 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

The price of Investors Bancorp, Inc. (NASDAQ:ISBC) currently stands at $12.37 after it went down by $-0.13 or -1.04% and has found a strong support at $12.29 a share. If the ISBC price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $12.22 mark would also be bad for the stock as it means that the stock would plunge by 1.21% from its current position. However, if the stock price is able to trade above the resistance point around $12.5, then it could likely surge higher to try and break the upward resistance which stands at $12.64 a share. Its average daily volatility over the past one month stands at 2.24%. The stock has plunged by 0.16% from its 52-weeks high of $12.35 which it reached on Apr. 24, 2018. In general, it is 19.64% above its 52-weeks lowest point which stands at $9.94 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Investors Bancorp, Inc. (ISBC) for 1 year and it stands at an average $13.36/share. This means that it would likely increase by 8% from its current position. The current price of the stock has been moving between $12.35 and $12.56. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $12. On the other hand, one analyst is super bullish about the price, setting a target as high as $15.

The ISBC stock Stochastic Oscillator (%D) is at 80.88%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 3.61 which compares to the 5.71 recorded by the industry or the 5.74 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 14.25, which is lower than the 17.52 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 12.3% over the past five years.

Analysts view Investors Bancorp, Inc. (NASDAQ:ISBC) as a Hold, with 2.3 consensus rating. Reuters surveyed 9 analysts that follow ISBC and found that 5 of those analysts rated the stock as a Hold. The remaining 4 were divided, with 4 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Investors Bancorp, Inc. (ISBC) shares or sell it if they already own it.

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