Zacks: Brokerages Expect Investors Bancorp Inc (NASDAQ:ISBC) to Post $0.19 Earnings Per Share

Analysts predict that Investors Bancorp Inc (NASDAQ:ISBC) will announce earnings of $0.19 per share for the current quarter, according to Zacks. Two analysts have made estimates for Investors Bancorp’s earnings. Investors Bancorp also reported earnings of $0.19 per share during the same quarter last year. The business is scheduled to report its next earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Investors Bancorp will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $0.74. For the next financial year, analysts expect that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.76 to $0.81. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.05%. The company had revenue of $166.15 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period in the prior year, the firm earned $0.20 earnings per share.

A number of equities analysts recently issued reports on ISBC shares. BidaskClub raised shares of Investors Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, September 27th. Janney Montgomery Scott raised shares of Investors Bancorp from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 6th. Zacks Investment Research downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Royal Bank of Canada started coverage on shares of Investors Bancorp in a research note on Friday. They set an “outperform” rating and a $15.00 target price for the company. Finally, ValuEngine raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.53.

ISBC stock traded up $0.08 during trading on Monday, reaching $11.68. The company had a trading volume of 1,007,850 shares, compared to its average volume of 2,061,645. Investors Bancorp has a 52 week low of $9.94 and a 52 week high of $12.91. The company has a market cap of $3.16 billion, a P/E ratio of 14.41, a PEG ratio of 1.29 and a beta of 0.92. The business has a 50 day moving average of $11.30 and a 200 day moving average of $11.28. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.25 and a quick ratio of 1.25.

In other Investors Bancorp news, CFO P. Sean Burke sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.04, for a total transaction of $220,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Albanese sold 35,302 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $11.14, for a total transaction of $393,264.28. The disclosure for this sale can be found here. 3.49% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Investors Bancorp by 4.5% during the second quarter. Bank of America Corp DE now owns 2,398,871 shares of the savings and loans company’s stock valued at $26,747,000 after purchasing an additional 102,214 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Investors Bancorp by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,269,716 shares of the savings and loans company’s stock valued at $25,308,000 after acquiring an additional 9,016 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Investors Bancorp by 144.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,366,751 shares of the savings and loans company’s stock valued at $15,239,000 after acquiring an additional 808,610 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Investors Bancorp during the second quarter valued at approximately $14,545,000. Finally, Rothschild & Co. Asset Management US Inc. increased its position in shares of Investors Bancorp by 227.3% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,165,887 shares of the savings and loans company’s stock valued at $13,000,000 after acquiring an additional 809,678 shares in the last quarter. 72.86% of the stock is owned by institutional investors and hedge funds.

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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