Wall Street analysts predict that Investors Bancorp Inc (NASDAQ:ISBC) will announce $181.19 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Investors Bancorp’s earnings. The highest sales estimate is $183.00 million and the lowest is $178.00 million. Investors Bancorp reported sales of $179.31 million in the same quarter last year, which indicates a positive year over year growth rate of 1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Investors Bancorp will report full year sales of $725.17 million for the current financial year, with estimates ranging from $717.50 million to $729.41 million. For the next year, analysts expect that the business will report sales of $738.59 million, with estimates ranging from $722.70 million to $749.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Investors Bancorp had a return on equity of 6.71% and a net margin of 16.21%. The firm had revenue of $182.78 million for the quarter, compared to the consensus estimate of $180.64 million. During the same quarter last year, the business posted $0.14 earnings per share.
A number of equities research analysts have commented on ISBC shares. ValuEngine downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Stephens restated a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a research report on Thursday, August 16th. Royal Bank of Canada restated a “buy” rating and issued a $14.00 target price on shares of Investors Bancorp in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.79.
NASDAQ:ISBC opened at $11.44 on Friday. Investors Bancorp has a 52 week low of $11.14 and a 52 week high of $14.69. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction on Monday, October 1st. The stock was sold at an average price of $12.29, for a total value of $61,450.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.51% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Investors Bancorp by 3.0% in the 2nd quarter. BlackRock Inc. now owns 18,336,408 shares of the savings and loans company’s stock valued at $234,523,000 after buying an additional 528,918 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Investors Bancorp by 17.6% in the 2nd quarter. Janus Henderson Group PLC now owns 3,942,941 shares of the savings and loans company’s stock valued at $50,430,000 after buying an additional 591,211 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Investors Bancorp by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,058,542 shares of the savings and loans company’s stock valued at $26,329,000 after buying an additional 103,243 shares during the period. First Trust Advisors LP raised its holdings in shares of Investors Bancorp by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 2,033,869 shares of the savings and loans company’s stock valued at $26,013,000 after buying an additional 12,867 shares during the period. Finally, Algebris UK Ltd raised its holdings in shares of Investors Bancorp by 7.7% in the 2nd quarter. Algebris UK Ltd now owns 1,258,797 shares of the savings and loans company’s stock valued at $16,100,000 after buying an additional 89,724 shares during the period. Institutional investors own 63.40% of the company’s stock.
Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the holding company for Investors Bank that provides various banking products and services to individuals and businesses in the United States. Its deposit products include savings, checking, and money market accounts, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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