Wall Street analysts expect Investors Bancorp, Inc. (NASDAQ:ISBC) to report $183.58 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Investors Bancorp’s earnings, with the lowest sales estimate coming in at $181.95 million and the highest estimate coming in at $185.20 million. Investors Bancorp posted sales of $176.82 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, 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 financial year, analysts anticipate that the company will post sales of $776.07 million per share, with estimates ranging from $756.53 million to $795.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $182.91 million during the quarter, compared to analysts’ expectations of $181.14 million. Investors Bancorp had a net margin of 13.82% and a return on equity of 5.71%. During the same period in the previous year, the company earned $0.18 EPS.
Several equities research analysts have issued reports on ISBC shares. Barclays lowered their price objective on shares of Investors Bancorp from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, January 30th. Zacks Investment Research cut shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. BidaskClub raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. 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. Finally, Sandler O’Neill reissued a “hold” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.31.
In other news, Director Robert C. Albanese sold 5,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William V. Cosgrove sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $13.38, for a total transaction of $1,338,000.00. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.
Several large investors have recently bought and sold shares of ISBC. Citadel Advisors LLC raised its holdings in shares of Investors Bancorp by 149.5% in the 4th quarter. Citadel Advisors LLC now owns 7,034,045 shares of the savings and loans company’s stock valued at $97,633,000 after purchasing an additional 4,214,853 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Investors Bancorp by 325.3% in the 4th quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock valued at $35,892,000 after purchasing an additional 1,977,898 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Investors Bancorp by 20.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock valued at $62,090,000 after purchasing an additional 783,442 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Investors Bancorp in the 3rd quarter valued at about $10,274,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Investors Bancorp by 185.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,081,145 shares of the savings and loans company’s stock valued at $15,007,000 after purchasing an additional 702,829 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.
Investors Bancorp (ISBC) traded up $0.05 during trading on Friday, reaching $14.24. 1,696,298 shares of the company’s stock traded hands, compared to its average volume of 2,355,676. The stock has a market cap of $4,310.00, a PE ratio of 33.12, a price-to-earnings-growth ratio of 1.53 and a beta of 0.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.20 and a current ratio of 1.18. Investors Bancorp has a 12 month low of $12.48 and a 12 month high of $14.86.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.09 dividend. The ex-dividend date of this dividend 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 currently 83.72%.
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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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