Equities research analysts forecast that Investors Bank (NASDAQ:ISBC) will announce $0.19 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Investors Bank’s earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.17. Investors Bank posted earnings of $0.16 per share in the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that Investors Bank will report full-year earnings of $0.76 per share for the current financial year, with EPS estimates ranging from $0.73 to $0.79. For the next year, analysts anticipate that the company will post earnings of $0.80 per share, with EPS estimates ranging from $0.77 to $0.86. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Investors Bank.
Investors Bank (NASDAQ:ISBC) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. Investors Bank had a return on equity of 5.71% and a net margin of 13.82%. The company had revenue of $182.91 million for the quarter, compared to analysts’ expectations of $181.14 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share.
Several research analysts recently issued reports on ISBC shares. BidaskClub cut Investors Bank from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Barclays increased their price objective on Investors Bank from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Investors Bank in a research note on Friday, December 22nd. Zacks Investment Research raised Investors Bank from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, December 13th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $15.00 target price on shares of Investors Bank in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Investors Bank currently has an average rating of “Hold” and a consensus target price of $15.38.
In other Investors Bank news, Director William V. Cosgrove sold 100,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $13.38, for a total transaction of $1,338,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO P. Sean Burke sold 50,000 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $14.17, for a total value of $708,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 155,000 shares of company stock worth $2,114,400 in the last ninety days. Insiders own 2.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Investors Bank by 3.3% during the 4th quarter. BlackRock Inc. now owns 17,719,175 shares of the savings and loans company’s stock valued at $245,943,000 after acquiring an additional 559,318 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Investors Bank by 1.6% during the 3rd 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 acquiring an additional 128,977 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Investors Bank by 149.5% during the 4th quarter. Citadel Advisors LLC now owns 7,034,045 shares of the savings and loans company’s stock valued at $97,633,000 after purchasing an additional 4,214,853 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Investors Bank by 20.8% during the 3rd 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, Bank of Montreal Can lifted its holdings in shares of Investors Bank by 325.3% during the 4th quarter. Bank of Montreal Can now owns 2,585,909 shares of the savings and loans company’s stock valued at $35,892,000 after purchasing an additional 1,977,898 shares during the last quarter. 80.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:ISBC opened at $13.34 on Thursday. Investors Bank has a 52-week low of $12.48 and a 52-week high of $14.85. The company has a market capitalization of $4,054.73, a P/E ratio of 21.52, a PEG ratio of 1.46 and a beta of 0.62. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43.
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Investors Bank 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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