Wall Street analysts predict that Investors Bancorp Inc (NASDAQ:ISBC) will report $175.33 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Investors Bancorp’s earnings, with estimates ranging from $173.60 million to $176.80 million. Investors Bancorp reported sales of $182.91 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.1%. The company is expected to issue its next earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Investors Bancorp will report full-year sales of $715.52 million for the current year, with estimates ranging from $713.60 million to $717.17 million. For the next financial year, analysts expect that the firm will report sales of $703.71 million, with estimates ranging from $683.50 million to $717.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last released its earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm had revenue of $177.21 million during the quarter, compared to analyst estimates of $181.19 million. Investors Bancorp had a net margin of 16.73% and a return on equity of 7.01%.
Investors Bancorp stock traded down $0.11 on Wednesday, reaching $12.40. 2,509,417 shares of the stock were exchanged, compared to its average volume of 3,287,983. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.35 and a beta of 0.62. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.23. Investors Bancorp has a twelve month low of $10.27 and a twelve month high of $14.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be issued a dividend of $0.11 per share. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 8th. This represents a $0.44 annualized dividend and a dividend yield of 3.55%. Investors Bancorp’s payout ratio is presently 58.06%.
In other news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $12.29, for a total transaction of $61,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ISBC. Millennium Management LLC bought a new stake in Investors Bancorp in the second quarter valued at about $13,344,000. Thompson Siegel & Walmsley LLC increased its stake in Investors Bancorp by 42.5% in the third quarter. Thompson Siegel & Walmsley LLC now owns 3,306,098 shares of the savings and loans company’s stock valued at $40,566,000 after acquiring an additional 985,609 shares during the period. Federated Investors Inc. PA increased its stake in Investors Bancorp by 5,310.2% in the second quarter. Federated Investors Inc. PA now owns 816,611 shares of the savings and loans company’s stock valued at $10,444,000 after acquiring an additional 801,517 shares during the period. Janus Henderson Group PLC increased its stake in Investors Bancorp by 17.6% in the second quarter. Janus Henderson Group PLC now owns 3,942,941 shares of the savings and loans company’s stock valued at $50,430,000 after acquiring an additional 591,211 shares during the period. Finally, BlackRock Inc. increased its stake in Investors Bancorp by 3.0% in the second quarter. BlackRock Inc. now owns 18,336,408 shares of the savings and loans company’s stock valued at $234,523,000 after acquiring an additional 528,918 shares during the period. 62.89% of the stock is currently owned by institutional investors and hedge funds.
About Investors Bancorp
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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