Investors Bancorp, Inc. (NASDAQ:ISBC) – Analysts at Piper Sandler increased their Q2 2021 earnings estimates for shares of Investors Bancorp in a research note issued to investors on Thursday, April 29th. Piper Sandler analyst M. Fitzgibbon now forecasts that the savings and loans company will post earnings of $0.31 per share for the quarter, up from their prior estimate of $0.30. Piper Sandler also issued estimates for Investors Bancorp’s Q3 2021 earnings at $0.31 EPS, Q4 2021 earnings at $0.31 EPS, FY2021 earnings at $1.23 EPS and FY2022 earnings at $1.30 EPS.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Tuesday, April 27th. The savings and loans company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The firm had revenue of $200.74 million for the quarter, compared to the consensus estimate of $203.62 million. Investors Bancorp had a net margin of 18.26% and a return on equity of 7.73%. Investors Bancorp’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS.
ISBC stock opened at $15.03 on Monday. Investors Bancorp has a 52 week low of $6.74 and a 52 week high of $15.71. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.56 and a beta of 1.15. The firm’s 50-day moving average is $14.77 and its two-hundred day moving average is $11.87. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.61.
Several institutional investors have recently added to or reduced their stakes in ISBC. Nisa Investment Advisors LLC purchased a new position in shares of Investors Bancorp in the first quarter worth approximately $44,000. Private Capital Group LLC increased its position in shares of Investors Bancorp by 71.1% in the first quarter. Private Capital Group LLC now owns 3,519 shares of the savings and loans company’s stock worth $52,000 after acquiring an additional 1,462 shares in the last quarter. Toronto Dominion Bank purchased a new position in Investors Bancorp during the fourth quarter valued at approximately $66,000. Jefferies Group LLC purchased a new position in Investors Bancorp during the fourth quarter valued at approximately $110,000. Finally, Strs Ohio purchased a new position in Investors Bancorp during the first quarter valued at approximately $110,000. 72.45% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 25th. Stockholders of record on Monday, May 10th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, May 7th. Investors Bancorp’s dividend payout ratio (DPR) is currently 72.73%.
About Investors Bancorp
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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