Brokerages forecast that Investors Bancorp, Inc. (NASDAQ:ISBC) will post $181.14 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Investors Bancorp’s earnings, with the lowest sales estimate coming in at $180.27 million and the highest estimate coming in at $182.00 million. Investors Bancorp posted sales of $177.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Investors Bancorp will report full year sales of $181.14 million for the current financial year, with estimates ranging from $712.77 million to $713.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $745.54 million per share, with estimates ranging from $741.08 million to $750.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $179.31 million during the quarter, compared to the consensus estimate of $178.16 million. Investors Bancorp had a return on equity of 5.84% and a net margin of 20.55%. During the same period last year, the company earned $0.15 EPS.

A number of brokerages recently commented on ISBC. Sandler O’Neill cut Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Barclays lifted their price objective on Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, October 30th. Piper Jaffray Companies cut Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, November 29th. Finally, Keefe, Bruyette & Woods cut Investors Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.31.

In other news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $13.62, for a total value of $68,100.00. Following the transaction, the director now owns 157,188 shares of the company’s stock, valued at $2,140,900.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis M. Bone sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $13.25, for a total value of $99,375.00. Following the completion of the transaction, the director now directly owns 172,644 shares in the company, valued at approximately $2,287,533. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ISBC. Citigroup Inc. boosted its stake in shares of Investors Bancorp by 45.7% in the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Investors Bancorp by 6.8% in the second 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 in the last quarter. Gotham Asset Management LLC boosted its stake in shares of Investors Bancorp by 17.1% in the second quarter. Gotham Asset Management LLC now owns 13,305 shares of the savings and loans company’s stock valued at $178,000 after buying an additional 1,941 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Investors Bancorp in the third quarter valued at approximately $187,000. Finally, US Bancorp DE boosted its stake in shares of Investors Bancorp by 2.7% in the second 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 in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of Investors Bancorp (NASDAQ ISBC) opened at $14.07 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $4,340.00, a PE ratio of 22.14, a P/E/G ratio of 2.00 and a beta of 0.53. Investors Bancorp has a 52-week low of $12.48 and a 52-week high of $15.11.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a $0.09 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.08. Investors Bancorp’s payout ratio is presently 57.14%.

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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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Earnings History and Estimates for Investors Bancorp (NASDAQ:ISBC)

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