Investors Bancorp, Inc. (NASDAQ:ISBC) – Investment analysts at FIG Partners reduced their Q3 2017 earnings per share estimates for shares of Investors Bancorp in a note issued to investors on Monday. FIG Partners analyst D. Bishop now anticipates that the savings and loans company will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.16. FIG Partners also issued estimates for Investors Bancorp’s FY2017 earnings at $0.56 EPS and Q2 2018 earnings at $0.15 EPS.
Several other research firms have also recently issued reports on ISBC. Keefe, Bruyette & Woods set a $16.00 target price on Investors Bancorp and gave the company a “buy” rating in a research note on Monday, April 3rd. BidaskClub cut Investors Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Deutsche Bank AG reduced their target price on Investors Bancorp from $15.00 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Stephens started coverage on Investors Bancorp in a research note on Thursday, July 13th. They set an “overweight” rating and a $16.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Investors Bancorp presently has an average rating of “Hold” and an average target price of $14.93.
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Shares of Investors Bancorp (ISBC) opened at 13.28 on Tuesday. The stock’s 50 day moving average is $13.29 and its 200 day moving average is $13.89. Investors Bancorp has a 12 month low of $11.10 and a 12 month high of $15.11. The firm has a market cap of $3.93 billion, a P/E ratio of 20.72 and a beta of 0.71.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by $0.01. The company had revenue of $176.38 million for the quarter, compared to analyst estimates of $179.25 million. Investors Bancorp had a return on equity of 5.80% and a net margin of 20.91%. During the same period last year, the business earned $0.15 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.32 annualized dividend and a yield of 2.41%. Investors Bancorp’s payout ratio is 50.79%.
In other news, Director Doreen R. Byrnes sold 40,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $13.67, for a total value of $546,800.00. Following the sale, the director now directly owns 169,663 shares of the company’s stock, valued at $2,319,293.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paul Kalamaras sold 120,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $13.59, for a total value of $1,630,800.00. Following the completion of the sale, the vice president now directly owns 725,827 shares in the company, valued at $9,863,988.93. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC bought a new stake in Investors Bancorp during the fourth quarter worth approximately $272,000. Parametrica Management Ltd boosted its stake in Investors Bancorp by 39.5% in the first quarter. Parametrica Management Ltd now owns 16,027 shares of the savings and loans company’s stock worth $230,000 after buying an additional 4,537 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Investors Bancorp during the first quarter worth approximately $302,000. NBW Capital LLC boosted its stake in Investors Bancorp by 5.2% in the first quarter. NBW Capital LLC now owns 242,715 shares of the savings and loans company’s stock worth $3,490,000 after buying an additional 11,926 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Investors Bancorp by 7.1% in the first quarter. Wells Fargo & Company MN now owns 530,233 shares of the savings and loans company’s stock worth $7,625,000 after buying an additional 35,081 shares in the last quarter. 77.35% of the stock is currently owned by hedge funds and other institutional investors.
About Investors Bancorp
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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