Analysts expect Investors Bank (NASDAQ:ISBC) to post sales of $180.37 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Investors Bank’s earnings, with estimates ranging from $178.12 million to $182.60 million. Investors Bank reported sales of $176.38 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The firm is expected to issue its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Investors Bank will report full-year sales of $724.09 million for the current financial year, with estimates ranging from $720.00 million to $730.90 million. For the next financial year, analysts forecast that the firm will report sales of $747.52 million per share, with estimates ranging from $729.90 million to $761.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Investors Bank.
Investors Bank (NASDAQ:ISBC) last issued its earnings results on Thursday, April 26th. The savings and loans company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Investors Bank had a net margin of 14.78% and a return on equity of 6.12%. The firm had revenue of $181.59 million during the quarter, compared to analyst estimates of $183.58 million.
ISBC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Investors Bank from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Sandler O’Neill upgraded shares of Investors Bank from a “hold” rating to a “buy” rating and set a $15.50 target price for the company in a research report on Thursday, April 5th. Barclays upgraded shares of Investors Bank from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective for the company in a research report on Friday, May 4th. Finally, BidaskClub lowered shares of Investors Bank from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.50.
In other Investors Bank news, Director Robert C. Albanese sold 5,000 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $13.58, for a total transaction of $67,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michele N. Siekerka sold 70,606 shares of the stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $13.50, for a total transaction of $953,181.00. The disclosure for this sale can be found here. 3.51% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado bought a new position in Investors Bank during the fourth quarter valued at $117,000. Raymond James & Associates purchased a new stake in shares of Investors Bank in the fourth quarter valued at $143,000. Gotham Asset Management LLC purchased a new stake in shares of Investors Bank in the fourth quarter valued at $145,000. First Republic Investment Management Inc. purchased a new stake in shares of Investors Bank in the first quarter valued at $149,000. Finally, Granite Springs Asset Management LLC purchased a new stake in shares of Investors Bank in the first quarter valued at $152,000. Institutional investors and hedge funds own 78.97% of the company’s stock.
Shares of Investors Bank opened at $13.38 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.24 and a quick ratio of 1.24. Investors Bank has a fifty-two week low of $12.48 and a fifty-two week high of $14.69. The firm has a market cap of $4.07 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.46 and a beta of 0.62.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Thursday, May 10th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $0.36 annualized dividend and a yield of 2.69%. Investors Bank’s dividend payout ratio (DPR) is currently 58.06%.
About Investors Bank
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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