Wall Street brokerages expect that Investors Bancorp Inc (NASDAQ:ISBC) will post $175.33 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Investors Bancorp’s earnings. The highest sales estimate is $176.80 million and the lowest is $173.60 million. Investors Bancorp reported sales of $182.91 million in the same quarter last year, which suggests a negative year-over-year growth rate of 4.1%. The firm is expected to report its next earnings results on Thursday, January 24th.
On average, analysts expect that Investors Bancorp will report full-year sales of $715.52 million for the current year, with estimates ranging from $713.60 million to $717.17 million. For the next fiscal year, analysts anticipate that the company will report sales of $703.71 million, with estimates ranging from $683.50 million to $717.10 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 posted its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $177.21 million for the quarter, compared to the consensus estimate of $181.19 million. Investors Bancorp had a return on equity of 7.05% and a net margin of 16.73%.
A number of equities analysts have recently weighed in on ISBC shares. Stephens reiterated a “buy” rating and issued a $15.00 target price on shares of Investors Bancorp in a report on Thursday, August 16th. BidaskClub upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Finally, Zacks Investment Research downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Investors Bancorp currently has a consensus rating of “Hold” and an average target price of $14.79.
Shares of ISBC opened at $12.09 on Friday. The stock has a market capitalization of $4.32 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62. Investors Bancorp has a fifty-two week low of $10.27 and a fifty-two week high of $14.69. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.21 and a current ratio of 1.21.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a $0.11 dividend. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, November 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.64%. Investors Bancorp’s dividend payout ratio is currently 70.97%.
In other news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $12.29, for a total value of $61,450.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.51% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ISBC. Scopia Capital Management LP grew its stake in shares of Investors Bancorp by 28.8% in the 3rd quarter. Scopia Capital Management LP now owns 14,190,051 shares of the savings and loans company’s stock valued at $174,112,000 after buying an additional 3,168,837 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Investors Bancorp in the 2nd quarter valued at approximately $13,344,000. Thompson Siegel & Walmsley LLC grew its stake in shares of Investors Bancorp by 42.5% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,306,098 shares of the savings and loans company’s stock valued at $40,566,000 after buying an additional 985,609 shares in the last quarter. First Pacific Advisors LP bought a new stake in shares of Investors Bancorp in the 3rd quarter valued at approximately $11,487,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Investors Bancorp by 4.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 21,444,804 shares of the savings and loans company’s stock valued at $263,128,000 after buying an additional 911,778 shares in the last quarter. 60.71% of the stock is owned by institutional investors and hedge funds.
About Investors Bancorp
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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