Investors Bancorp, Inc. (ISBC) Expected to Post Quarterly Sales of $183.58 Million

Wall Street brokerages expect Investors Bancorp, Inc. (NASDAQ:ISBC) to announce $183.58 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Investors Bancorp’s earnings. The lowest sales estimate is $181.95 million and the highest is $185.20 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 3.8%. The company is scheduled to report its next quarterly earnings report on Thursday, April 26th.

According to Zacks, analysts expect that Investors Bancorp will report full-year sales of $183.58 million for the current fiscal year, with estimates ranging from $729.10 million to $745.90 million. For the next year, analysts forecast that the firm will report sales of $776.07 million per share, with estimates ranging from $756.53 million to $795.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share for the quarter, topping the 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 business had revenue of $182.91 million during the quarter, compared to the consensus estimate of $181.14 million. During the same period in the prior year, the company earned $0.18 EPS.

Several equities analysts have commented on the company. Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Barclays dropped their target price on Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, January 30th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.50 target price on shares of Investors Bancorp in a research report on Monday, January 29th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $15.00 target price on shares of Investors Bancorp in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.19.

Investors Bancorp (NASDAQ:ISBC) opened at $13.59 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $4,100.00, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. Investors Bancorp has a 1 year low of $12.48 and a 1 year high of $15.11.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.36 annualized dividend and a yield of 2.65%. Investors Bancorp’s dividend payout ratio is presently 83.72%.

In other news, Director William V. Cosgrove sold 100,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total value of $1,338,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $13.94, for a total value of $69,700.00. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in shares of Investors Bancorp in the second quarter valued at about $216,000. Bank of Montreal Can increased its stake in shares of Investors Bancorp by 325.3% in 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 buying an additional 1,977,898 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Investors Bancorp in the fourth quarter valued at about $125,000. Fox Run Management L.L.C. increased its stake in shares of Investors Bancorp by 113.1% in the fourth quarter. Fox Run Management L.L.C. now owns 23,650 shares of the savings and loans company’s stock valued at $328,000 after buying an additional 12,550 shares during the period. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Investors Bancorp in the second quarter valued at about $373,000. 77.66% of the stock is owned by institutional investors.

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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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