Equities research analysts predict that Investors Bancorp, Inc. (NASDAQ:ISBC) will post $206.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Investors Bancorp’s earnings, with estimates ranging from $206.30 million to $206.50 million. Investors Bancorp reported sales of $187.94 million during the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The company is expected to announce its next earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that Investors Bancorp will report full year sales of $841.35 million for the current year, with estimates ranging from $830.80 million to $851.90 million. For the next fiscal year, analysts forecast that the firm will report sales of $879.35 million, with estimates ranging from $866.10 million to $892.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Tuesday, January 26th. The savings and loans company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Investors Bancorp had a return on equity of 7.73% and a net margin of 18.26%. During the same period in the previous year, the business posted $0.19 earnings per share.
ISBC has been the subject of several recent research reports. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Tuesday, November 3rd. TheStreet raised Investors Bancorp from a “c+” rating to a “b” rating in a research note on Thursday, November 19th. Five equities research analysts have rated the stock with a buy rating, Investors Bancorp has a consensus rating of “Buy” and a consensus target price of $10.10.
Institutional investors have recently made changes to their positions in the business. CI Investments Inc. bought a new stake in Investors Bancorp during the third quarter worth approximately $25,000. NEXT Financial Group Inc acquired a new position in shares of Investors Bancorp during the third quarter worth approximately $25,000. Toronto Dominion Bank acquired a new position in shares of Investors Bancorp during the fourth quarter worth approximately $66,000. Platform Technology Partners acquired a new position in shares of Investors Bancorp during the third quarter worth approximately $75,000. Finally, Jefferies Group LLC acquired a new position in shares of Investors Bancorp during the fourth quarter worth approximately $110,000. 72.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ ISBC traded up $0.16 during trading hours on Tuesday, hitting $12.87. The stock had a trading volume of 3,369,348 shares, compared to its average volume of 5,532,982. The company has a market capitalization of $3.22 billion, a P/E ratio of 15.89 and a beta of 1.15. The firm’s 50-day moving average price is $11.63 and its two-hundred day moving average price is $9.34. Investors Bancorp has a 52 week low of $6.31 and a 52 week high of $12.98. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.12 and a current ratio of 1.12.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 25th. Shareholders of record on Wednesday, February 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, February 9th. This represents a $0.56 dividend on an annualized basis and a yield of 4.35%. This is a boost from Investors Bancorp’s previous quarterly dividend of $0.12. Investors Bancorp’s dividend payout ratio is presently 72.73%.
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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