Investors Bancorp Inc (NASDAQ:ISBC) – Analysts at FIG Partners upped their Q1 2019 earnings per share (EPS) estimates for shares of Investors Bancorp in a note issued to investors on Monday, February 11th. FIG Partners analyst D. Bishop now anticipates that the savings and loans company will earn $0.20 per share for the quarter, up from their previous estimate of $0.19. FIG Partners also issued estimates for Investors Bancorp’s Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.82 EPS, Q1 2020 earnings at $0.21 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.89 EPS.
Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The business had revenue of $148.51 million for the quarter, compared to the consensus estimate of $175.20 million. Investors Bancorp had a return on equity of 7.50% and a net margin of 20.70%. During the same period in the previous year, the business earned $0.17 EPS.
Several other research analysts also recently commented on the company. BidaskClub raised Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Barclays reissued a “hold” rating and issued a $14.00 target price on shares of Investors Bancorp in a report on Friday, January 11th. Wells Fargo & Co raised Investors Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $15.00 in a report on Thursday, January 31st. Piper Jaffray Companies raised Investors Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $12.50 to $13.50 in a report on Friday, February 1st. Finally, Zacks Investment Research downgraded Investors Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.88.
Shares of ISBC opened at $12.79 on Tuesday. The company has a market capitalization of $4.52 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.21 and a current ratio of 1.21. Investors Bancorp has a one year low of $9.94 and a one year high of $14.41.
A number of large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its position in shares of Investors Bancorp by 73.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 158,683 shares of the savings and loans company’s stock valued at $1,650,000 after acquiring an additional 67,395 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Investors Bancorp during the 4th quarter valued at $560,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Investors Bancorp by 3.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,046 shares of the savings and loans company’s stock valued at $739,000 after acquiring an additional 2,359 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Investors Bancorp by 6.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,653,977 shares of the savings and loans company’s stock valued at $17,202,000 after acquiring an additional 94,682 shares during the last quarter. Finally, Ffcm LLC raised its position in shares of Investors Bancorp by 1,771.4% during the 4th quarter. Ffcm LLC now owns 12,576 shares of the savings and loans company’s stock valued at $131,000 after acquiring an additional 11,904 shares during the last quarter. 61.04% of the stock is currently owned by hedge funds and other institutional investors.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $10.28, for a total transaction of $51,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.51% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Monday, February 11th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, February 8th. Investors Bancorp’s dividend payout ratio is 54.32%.
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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