Investors Bancorp, Inc. (ISBC) Expected to Announce Earnings of $0.15 Per Share
Brokerages expect Investors Bancorp, Inc. (NASDAQ:ISBC) to report earnings per share (EPS) of $0.15 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Investors Bancorp’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.16. Investors Bancorp reported earnings of $0.18 per share during the same quarter last year, which indicates 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 financial year, with EPS estimates ranging from $0.57 to $0.60. For the next fiscal year, analysts forecast that the firm will report earnings of $0.63 per share, with EPS estimates ranging from $0.60 to $0.65. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $179.31 million for the quarter, compared to analysts’ expectations of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.84%. During the same quarter in the previous year, the company posted $0.15 EPS.
Several brokerages have recently weighed in on ISBC. Keefe, Bruyette & Woods cut shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Barclays PLC upped their target price on shares of Investors Bancorp from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Stephens set a $16.00 target price on shares of Investors Bancorp and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $15.21.
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Shares of Investors Bancorp (NASDAQ:ISBC) traded up $0.02 during mid-day trading on Friday, hitting $14.21. 1,996,700 shares of the stock traded hands, compared to its average volume of 2,545,851. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $4,350.00, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.00 and a beta of 0.52. Investors Bancorp has a 1 year low of $12.48 and a 1 year high of $15.11.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Investors Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 9th. Investors Bancorp’s dividend payout ratio is presently 57.14%.
In related news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 157,188 shares in the company, valued at $2,140,900.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Cashill sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $13.08, for a total transaction of $327,000.00. Following the sale, the director now owns 756,902 shares in the company, valued at $9,900,278.16. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $788,100 over the last 90 days. Insiders own 2.96% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. increased its stake in shares of Investors Bancorp by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 21,600,876 shares of the savings and loans company’s stock worth $294,636,000 after buying an additional 118,515 shares during the period. State Street Corp increased its stake in shares of Investors Bancorp by 5.5% during the second quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock worth $175,828,000 after buying an additional 688,073 shares during the period. Dimensional Fund Advisors LP increased its stake in Investors Bancorp by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 8,021,712 shares of the savings and loans company’s stock valued at $109,416,000 after purchasing an additional 128,977 shares during the last quarter. Janus Henderson Group PLC increased its stake in Investors Bancorp by 20.8% in the third quarter. Janus Henderson Group PLC now owns 4,552,071 shares of the savings and loans company’s stock valued at $62,090,000 after purchasing an additional 783,442 shares during the last quarter. Finally, Pax World Management LLC increased its stake in Investors Bancorp by 9.8% in the second quarter. Pax World Management LLC now owns 2,553,239 shares of the savings and loans company’s stock valued at $34,111,000 after purchasing an additional 227,798 shares during the last quarter. Hedge funds and other institutional investors own 70.82% of the company’s stock.
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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