Investors Bancorp Inc (NASDAQ:ISBC) – Stock analysts at Piper Sandler reduced their Q1 2020 earnings per share (EPS) estimates for shares of Investors Bancorp in a research report issued on Monday, March 23rd. Piper Sandler analyst M. Fitzgibbon now forecasts that the savings and loans company will post earnings of $0.20 per share for the quarter, down from their previous forecast of $0.21. Piper Sandler also issued estimates for Investors Bancorp’s Q3 2020 earnings at $0.21 EPS, Q2 2021 earnings at $0.23 EPS and Q4 2021 earnings at $0.24 EPS.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings data on Wednesday, January 29th. The savings and loans company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The company had revenue of $189.23 million for the quarter, compared to analyst estimates of $180.70 million. Investors Bancorp had a return on equity of 7.11% and a net margin of 17.88%. During the same quarter in the prior year, the company posted $0.22 earnings per share.
Other research analysts also recently issued research reports about the stock. Royal Bank of Canada restated a “buy” rating and set a $15.00 price target on shares of Investors Bancorp in a research report on Monday, February 3rd. BidaskClub upgraded Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 25th. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Compass Point raised Investors Bancorp from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.33.
ISBC stock opened at $8.47 on Thursday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 11.29 and a beta of 0.96. The firm has a 50-day simple moving average of $10.47 and a 200-day simple moving average of $11.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.29. Investors Bancorp has a 52 week low of $6.31 and a 52 week high of $12.74.
Several large investors have recently modified their holdings of ISBC. Bessemer Group Inc. purchased a new stake in shares of Investors Bancorp in the 4th quarter valued at approximately $1,423,000. California State Teachers Retirement System grew its stake in shares of Investors Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 359,381 shares of the savings and loans company’s stock valued at $4,083,000 after buying an additional 4,292 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Investors Bancorp by 32.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 973,544 shares of the savings and loans company’s stock worth $11,059,000 after acquiring an additional 238,243 shares during the last quarter. Oxford Asset Management LLP lifted its holdings in shares of Investors Bancorp by 481.8% in the 4th quarter. Oxford Asset Management LLP now owns 321,599 shares of the savings and loans company’s stock worth $3,832,000 after acquiring an additional 266,322 shares during the last quarter. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Investors Bancorp in the 4th quarter worth approximately $3,336,000. 69.91% of the stock is currently owned by hedge funds and other institutional investors.
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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