Analysts forecast that Investors Bancorp, Inc. (NASDAQ:ISBC) will announce $207.95 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Investors Bancorp’s earnings, with the lowest sales estimate coming in at $206.50 million and the highest estimate coming in at $209.40 million. Investors Bancorp posted sales of $187.94 million in the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, May 5th.
According to Zacks, analysts expect that Investors Bancorp will report full year sales of $849.50 million for the current fiscal year, with estimates ranging from $830.80 million to $868.20 million. For the next financial year, analysts expect that the business will report sales of $891.05 million, with estimates ranging from $866.10 million to $916.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Tuesday, January 26th. The savings and loans company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Investors Bancorp had a net margin of 18.26% and a return on equity of 7.73%. The business had revenue of $234.59 million for the quarter, compared to analyst estimates of $212.88 million. During the same quarter in the prior year, the firm earned $0.19 EPS.
Shares of ISBC traded up $0.20 during trading hours on Friday, hitting $14.63. The stock had a trading volume of 163,126 shares, compared to its average volume of 4,288,863. The company’s fifty day moving average is $14.09 and its two-hundred day moving average is $10.87. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.12 and a quick ratio of 1.12. Investors Bancorp has a 52 week low of $6.74 and a 52 week high of $15.34. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 17.94 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Wednesday, February 10th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Tuesday, February 9th. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.12. Investors Bancorp’s dividend payout ratio (DPR) is 72.73%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Investors Bancorp by 11.0% in the 4th quarter. BlackRock Inc. now owns 19,617,245 shares of the savings and loans company’s stock valued at $207,159,000 after purchasing an additional 1,946,420 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Investors Bancorp by 23.0% in the 4th quarter. Victory Capital Management Inc. now owns 3,434,463 shares of the savings and loans company’s stock valued at $36,267,000 after acquiring an additional 642,216 shares during the period. Norges Bank acquired a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $29,270,000. Charles Schwab Investment Management Inc. raised its position in shares of Investors Bancorp by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,122,140 shares of the savings and loans company’s stock valued at $22,410,000 after acquiring an additional 158,931 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Investors Bancorp by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,736,549 shares of the savings and loans company’s stock valued at $18,338,000 after acquiring an additional 79,400 shares during the period. 72.45% of the stock is currently owned by institutional investors.
Investors Bancorp Company Profile
Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.
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