Wall Street brokerages expect that Investors Bancorp Inc (NASDAQ:ISBC) will post sales of $181.65 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Investors Bancorp’s earnings. The highest sales estimate is $184.44 million and the lowest is $179.80 million. Investors Bancorp reported sales of $181.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, April 24th.
On average, analysts expect that Investors Bancorp will report full year sales of $735.40 million for the current financial year, with estimates ranging from $727.50 million to $745.29 million. For the next fiscal year, analysts expect that the business will post sales of $769.13 million, with estimates ranging from $750.00 million to $778.70 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The business had revenue of $148.51 million during the quarter, compared to analyst estimates of $175.20 million. Investors Bancorp had a return on equity of 7.54% and a net margin of 20.70%. During the same period in the previous year, the company earned $0.17 EPS.
Several equities research analysts have recently issued reports on the company. ValuEngine upgraded Investors Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub upgraded Investors Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, March 29th. Barclays reiterated a “hold” rating and set a $14.00 price target on shares of Investors Bancorp in a report on Friday, January 11th. Piper Jaffray Companies upgraded Investors Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $12.50 to $13.50 in a report on Friday, February 1st. Finally, Zacks Investment Research upgraded Investors Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, January 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Investors Bancorp presently has an average rating of “Hold” and an average target price of $13.61.
In related news, Director Doreen R. Byrnes sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $12.74, for a total value of $382,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $11.91, for a total value of $59,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,100 shares of company stock valued at $3,747,423. Corporate insiders own 3.51% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its holdings in Investors Bancorp by 5.2% in the 1st quarter. State of Alaska Department of Revenue now owns 105,135 shares of the savings and loans company’s stock worth $1,245,000 after purchasing an additional 5,232 shares during the last quarter. Deutsche Bank AG lifted its holdings in Investors Bancorp by 65.2% in the 4th quarter. Deutsche Bank AG now owns 2,220,600 shares of the savings and loans company’s stock worth $23,093,000 after purchasing an additional 876,463 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Investors Bancorp by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,030,028 shares of the savings and loans company’s stock worth $31,511,000 after purchasing an additional 106,555 shares during the last quarter. Norges Bank acquired a new stake in Investors Bancorp in the 4th quarter worth approximately $28,230,000. Finally, Nordea Investment Management AB lifted its holdings in Investors Bancorp by 35.5% in the 4th quarter. Nordea Investment Management AB now owns 888,500 shares of the savings and loans company’s stock worth $9,240,000 after purchasing an additional 233,000 shares during the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.
Shares of Investors Bancorp stock traded down $0.20 during trading on Wednesday, hitting $12.03. 1,420,519 shares of the stock traded hands, compared to its average volume of 2,424,540. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.25 and a beta of 0.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.23 and a quick ratio of 1.23. Investors Bancorp has a twelve month low of $9.94 and a twelve month high of $13.95.
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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