Equities research analysts expect Investors Bancorp, Inc. (NASDAQ:ISBC) to announce sales of $181.14 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Investors Bancorp’s earnings, with estimates ranging from $180.27 million to $182.00 million. Investors Bancorp reported sales of $177.21 million during the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The firm is expected to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Investors Bancorp will report full-year sales of $181.14 million for the current financial year, with estimates ranging from $712.77 million to $713.20 million. For the next year, analysts expect that the business will post sales of $745.54 million per share, with estimates ranging from $741.08 million to $750.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. The firm had revenue of $179.31 million for the quarter, compared to analyst estimates of $178.16 million. During the same period in the previous year, the business earned $0.15 EPS.
Several research firms have recently weighed in on ISBC. Zacks Investment Research lowered shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Barclays PLC boosted their price objective on shares of Investors Bancorp from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, October 30th. Keefe, Bruyette & Woods lowered shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a research note on Thursday, August 3rd. Finally, Stephens set a $16.00 price target on shares of Investors Bancorp and gave the company a “buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Investors Bancorp has a consensus rating of “Hold” and an average target price of $15.21.
In other Investors Bancorp news, Director Robert M. Cashill sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total value of $327,000.00. Following the transaction, the director now directly owns 756,902 shares of the company’s stock, valued at $9,900,278.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total transaction of $68,100.00. Following the completion of the transaction, the director now directly owns 157,188 shares in the company, valued at $2,140,900.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $788,100. 2.96% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ISBC. Janus Henderson Group PLC purchased a new position in shares of Investors Bancorp in the second quarter worth about $50,349,000. Koch Industries Inc. purchased a new position in shares of Investors Bancorp in the second quarter worth about $762,000. Thompson Siegel & Walmsley LLC purchased a new position in shares of Investors Bancorp in the third quarter worth about $10,274,000. Citadel Advisors LLC purchased a new position in shares of Investors Bancorp in the second quarter worth about $9,869,000. Finally, State Street Corp boosted its position in shares of Investors Bancorp by 5.5% in 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 during the period. Hedge funds and other institutional investors own 70.82% of the company’s stock.
Shares of Investors Bancorp (NASDAQ ISBC) traded up $0.22 during mid-day trading on Tuesday, reaching $14.19. 1,103,500 shares of the company’s stock traded hands, compared to its average volume of 2,548,302. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.42. Investors Bancorp has a 12-month low of $12.48 and a 12-month high of $15.11. The firm has a market cap of $4,340.00, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.97 and a beta of 0.52.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.54%. This is a boost from Investors Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 9th. Investors Bancorp’s dividend payout ratio is currently 57.14%.
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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