$178.16 Million in Sales Expected for Investors Bancorp, Inc. (ISBC) This Quarter
Brokerages expect Investors Bancorp, Inc. (NASDAQ:ISBC) to report sales of $178.16 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Investors Bancorp’s earnings. The highest sales estimate is $178.70 million and the lowest is $177.61 million. Investors Bancorp posted sales of $168.13 million during the same quarter last year, which suggests a positive year over year growth rate of 6%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 26th.
On average, analysts expect that Investors Bancorp will report full-year sales of $178.16 million for the current fiscal year, with estimates ranging from $709.55 million to $712.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $747.82 million per share, with estimates ranging from $737.44 million to $758.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $179.25 million. Investors Bancorp had a net margin of 20.91% and a return on equity of 5.79%. During the same quarter last year, the firm posted $0.15 earnings per share.
A number of research firms have recently commented on ISBC. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Stephens set a $16.00 price objective on Investors Bancorp and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Piper Jaffray Companies restated a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price objective on shares of Investors Bancorp in a report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.08.
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In related news, Director Robert M. Cashill sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total transaction of $327,000.00. Following the sale, the director now directly owns 756,902 shares in the company, valued at approximately $9,900,278.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian D. Dittenhafer sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $13.05, for a total value of $293,625.00. Following the sale, the director now owns 350,388 shares in the company, valued at $4,572,563.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock worth $788,100. Company insiders own 2.96% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Citigroup Inc. raised its holdings in shares of Investors Bancorp by 45.7% during the 2nd quarter. Citigroup Inc. now owns 10,898 shares of the savings and loans company’s stock valued at $146,000 after buying an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Investors Bancorp by 6.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,667 shares of the savings and loans company’s stock valued at $156,000 after buying an additional 739 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Investors Bancorp during the 1st quarter valued at about $163,000. US Bancorp DE raised its holdings in shares of Investors Bancorp by 2.7% during the 2nd quarter. US Bancorp DE now owns 14,077 shares of the savings and loans company’s stock valued at $189,000 after buying an additional 374 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Investors Bancorp during the 2nd quarter valued at about $193,000. Institutional investors and hedge funds own 74.21% of the company’s stock.
Shares of Investors Bancorp (ISBC) opened at 13.66 on Thursday. The firm’s 50-day moving average is $13.32 and its 200-day moving average is $13.48. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.31 and a beta of 0.69. Investors Bancorp has a 52 week low of $11.58 and a 52 week high of $15.11.
Investors Bancorp Company Profile
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.
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