Investors Bancorp, Inc. (ISBC) Expected to Post Quarterly Sales of $181.53 Million

Equities research analysts expect Investors Bancorp, Inc. (NASDAQ:ISBC) to report $181.53 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Investors Bancorp’s earnings. The highest sales estimate is $183.60 million and the lowest is $179.46 million. Investors Bancorp posted sales of $176.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to report its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that Investors Bancorp will report full-year sales of $181.53 million for the current year, with estimates ranging from $741.08 million to $750.00 million. For the next financial year, analysts anticipate that the company will post sales of $799.49 million per share, with estimates ranging from $794.78 million to $804.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Investors Bancorp had a return on equity of 5.69% and a net margin of 13.82%. The firm had revenue of $182.91 million for the quarter, compared to analyst estimates of $181.14 million. During the same period in the previous year, the firm earned $0.18 earnings per share.

ISBC has been the topic of several recent analyst reports. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, November 8th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price target on shares of Investors Bancorp in a research note on Friday, December 22nd. BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Sandler O’Neill lowered Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lowered Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.38.

Investors Bancorp (NASDAQ ISBC) opened at $13.70 on Monday. Investors Bancorp has a 12 month low of $12.48 and a 12 month high of $15.11. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $4,341.31, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68.

In other news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $13.94, for a total transaction of $69,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.96% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Investors Bancorp by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 21,600,876 shares of the savings and loans company’s stock valued at $294,636,000 after acquiring an additional 118,515 shares in the last quarter. State Street Corp increased its holdings in shares of Investors Bancorp by 5.5% during the second quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock valued at $175,828,000 after acquiring an additional 688,073 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Investors Bancorp by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 8,021,712 shares of the savings and loans company’s stock valued at $109,416,000 after acquiring an additional 128,977 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Investors Bancorp by 20.8% during the third quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock valued at $62,090,000 after acquiring an additional 783,442 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Investors Bancorp by 325.3% during the fourth quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock valued at $35,892,000 after acquiring an additional 1,977,898 shares in the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

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About Investors Bancorp

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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