Investors Bancorp, Inc. (ISBC) Expected to Post Earnings of $0.15 Per Share

Equities analysts predict that Investors Bancorp, Inc. (NASDAQ:ISBC) will report earnings of $0.15 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Investors Bancorp’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.16. Investors Bancorp reported earnings per share of $0.18 during the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The firm is expected to announce its next earnings results on Thursday, January 25th.

On average, analysts expect that Investors Bancorp will report full-year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.60. For the next year, analysts anticipate that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.60 to $0.68. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last announced its earnings results on Thursday, October 26th. The savings and loans company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. The business had revenue of $179.31 million during the quarter, compared to analysts’ expectations of $178.16 million. During the same period in the prior year, the company earned $0.15 earnings per share.

ISBC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Investors Bancorp in a research note on Friday. BidaskClub cut shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Piper Jaffray Companies cut shares of Investors Bancorp from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, November 29th. Finally, Barclays increased their price objective on shares of Investors Bancorp from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.38.

Shares of Investors Bancorp (ISBC) opened at $14.02 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $4,319.88, a price-to-earnings ratio of 21.91, a PEG ratio of 2.00 and a beta of 0.68. Investors Bancorp has a 52 week low of $12.48 and a 52 week high of $15.11.

In related news, Director Robert C. Albanese sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $13.62, for a total transaction of $68,100.00. Following the completion of the transaction, the director now directly owns 157,188 shares of the company’s stock, valued at $2,140,900.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.96% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ISBC. Janus Henderson Group PLC bought a new position in Investors Bancorp during the second quarter valued at $50,349,000. Koch Industries Inc. bought a new stake in shares of Investors Bancorp in the 2nd quarter worth about $762,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Investors Bancorp in the 3rd quarter worth about $10,274,000. Citadel Advisors LLC bought a new stake in shares of Investors Bancorp in the 2nd quarter worth about $9,869,000. Finally, State Street Corp lifted its holdings in shares of Investors Bancorp by 5.5% in the 2nd quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock worth $175,828,000 after acquiring an additional 688,073 shares during the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Investors Bancorp, Inc. (ISBC) Expected to Post Earnings of $0.15 Per Share” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.com-unik.info/2017/12/25/investors-bancorp-inc-isbc-expected-to-post-earnings-of-0-15-per-share.html.

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.

Get a free copy of the Zacks research report on Investors Bancorp (ISBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Investors Bancorp (NASDAQ:ISBC)

Receive News & Ratings for Investors Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit