Brokerages forecast that Investors Bancorp, Inc. (NASDAQ:ISBC) will announce $183.58 million in sales for the current quarter, according to Zacks. Two analysts have issued 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 during 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.
On average, analysts expect that Investors Bancorp will report full year sales of $183.58 million for the current year, with estimates ranging from $729.10 million to $745.90 million. For the next year, analysts forecast that the business will report sales of $776.07 million per share, with estimates ranging from $756.53 million to $795.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Investors Bancorp had a return on equity of 5.71% and a net margin of 13.82%. The firm had revenue of $182.91 million during the quarter, compared to analyst estimates of $181.14 million. During the same period last year, the company posted $0.18 EPS.
Several research analysts have recently weighed in on ISBC shares. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, November 8th. Piper Jaffray Companies lowered Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday, November 29th. Sandler O’Neill lowered Investors Bancorp from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Thursday, November 30th. They noted that the move was a valuation call. BidaskClub lowered Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Investors Bancorp in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.31.
Investors Bancorp (NASDAQ ISBC) traded up $0.05 during mid-day trading on Friday, hitting $14.24. The stock had a trading volume of 1,696,298 shares, compared to its average volume of 2,355,676. Investors Bancorp has a 1 year low of $12.48 and a 1 year high of $14.86. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.20 and a current ratio of 1.18. The company has a market cap of $4,310.00, a price-to-earnings ratio of 33.12, a PEG ratio of 1.53 and a beta of 0.50.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.09 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.53%. Investors Bancorp’s dividend payout ratio is presently 83.72%.
In other news, Director William V. Cosgrove sold 100,000 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Albanese sold 5,000 shares of the firm’s 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. Company insiders own 2.96% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new position in Investors Bancorp during the 4th quarter valued at about $519,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Investors Bancorp by 6.7% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 397,659 shares of the savings and loans company’s stock valued at $5,520,000 after purchasing an additional 25,000 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Investors Bancorp during the 4th quarter valued at about $1,681,000. Gotham Asset Management LLC acquired a new position in Investors Bancorp during the 4th quarter valued at about $145,000. Finally, Macquarie Group Ltd. acquired a new position in Investors Bancorp during the 4th quarter valued at about $172,000. Institutional investors and hedge funds own 78.85% of the company’s stock.
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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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