Brokerages expect Investors Bancorp Inc (NASDAQ:ISBC) to announce earnings per share of $0.19 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Investors Bancorp’s earnings. Investors Bancorp reported earnings of $0.16 per share in the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The company is scheduled to issue its next earnings report on Thursday, October 25th.
On average, analysts expect that Investors Bancorp will report full-year earnings of $0.77 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.78. For the next fiscal year, analysts anticipate that the business will post earnings of $0.78 per share, with EPS estimates ranging from $0.73 to $0.81. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $182.78 million during the quarter, compared to the consensus estimate of $180.64 million. Investors Bancorp had a return on equity of 6.71% and a net margin of 16.21%. During the same period in the previous year, the company posted $0.14 EPS.
A number of brokerages recently issued reports on ISBC. Zacks Investment Research downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BidaskClub downgraded Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $14.00 price objective on shares of Investors Bancorp in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Investors Bancorp presently has a consensus rating of “Hold” and an average target price of $14.79.
In other Investors Bancorp news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $12.70, for a total value of $63,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.51% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC raised its holdings in Investors Bancorp by 63.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 23,189 shares of the savings and loans company’s stock valued at $297,000 after buying an additional 9,018 shares during the period. Nomura Holdings Inc. purchased a new stake in Investors Bancorp during the 2nd quarter valued at $459,000. Global X Management Co LLC raised its holdings in Investors Bancorp by 21.0% during the 2nd quarter. Global X Management Co LLC now owns 65,681 shares of the savings and loans company’s stock valued at $840,000 after buying an additional 11,377 shares during the period. Verition Fund Management LLC purchased a new stake in Investors Bancorp during the 2nd quarter valued at $674,000. Finally, California Public Employees Retirement System raised its holdings in Investors Bancorp by 7.6% during the 2nd quarter. California Public Employees Retirement System now owns 856,432 shares of the savings and loans company’s stock valued at $10,954,000 after buying an additional 60,684 shares during the period. Institutional investors and hedge funds own 63.41% of the company’s stock.
Shares of NASDAQ:ISBC opened at $12.26 on Monday. The company has a market cap of $4.47 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.35 and a beta of 0.58. 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 12-month low of $12.25 and a 12-month high of $14.69.
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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