Equities research analysts expect Investors Bancorp Inc (NASDAQ:ISBC) to announce $175.33 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Investors Bancorp’s earnings, with estimates ranging from $173.60 million to $176.80 million. Investors Bancorp reported sales of $182.91 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The company is expected to issue its next earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Investors Bancorp will report full-year sales of $715.52 million for the current financial year, with estimates ranging from $713.60 million to $717.17 million. For the next year, analysts expect that the company will post sales of $703.71 million, with estimates ranging from $683.50 million to $717.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, October 25th. The savings and loans company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $177.21 million during the quarter, compared to the consensus estimate of $181.19 million. Investors Bancorp had a return on equity of 7.01% and a net margin of 16.73%.
A number of analysts have recently commented on ISBC shares. BidaskClub downgraded Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. Zacks Investment Research cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Investors Bancorp in a research note on Friday, July 27th. ValuEngine cut Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Finally, Stephens reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.79.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of Investors Bancorp stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $12.29, for a total transaction of $61,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.51% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ISBC. Stifel Financial Corp bought a new position in Investors Bancorp during the first quarter valued at approximately $192,000. Principal Financial Group Inc. lifted its holdings in shares of Investors Bancorp by 40.7% in the 1st quarter. Principal Financial Group Inc. now owns 38,573 shares of the savings and loans company’s stock valued at $526,000 after purchasing an additional 11,151 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Investors Bancorp by 1,321.9% in the 1st quarter. Royal Bank of Canada now owns 222,378 shares of the savings and loans company’s stock valued at $3,034,000 after purchasing an additional 206,739 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Investors Bancorp by 32.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,765 shares of the savings and loans company’s stock valued at $419,000 after purchasing an additional 7,950 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Investors Bancorp in the 2nd quarter valued at about $503,000. 62.89% of the stock is owned by institutional investors and hedge funds.
Shares of ISBC stock traded down $0.11 on Wednesday, reaching $12.40. 2,509,417 shares of the stock were exchanged, compared to its average volume of 3,287,983. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.35 and a beta of 0.62. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. Investors Bancorp has a 1-year low of $10.27 and a 1-year high of $14.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.55%. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 8th. Investors Bancorp’s payout ratio is 58.06%.
Investors Bancorp Company Profile
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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