Equities research analysts expect Investors Bancorp Inc (NASDAQ:ISBC) to announce earnings per share of $0.18 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Investors Bancorp’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.20. Investors Bancorp posted earnings of $0.20 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The business is scheduled to report its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that Investors Bancorp will report full-year earnings of $0.76 per share for the current financial year, with EPS estimates ranging from $0.71 to $0.81. For the next year, analysts anticipate that the company will report earnings of $0.83 per share, with EPS estimates ranging from $0.78 to $0.88. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Investors Bancorp had a net margin of 19.18% and a return on equity of 7.30%. The company had revenue of $173.87 million for the quarter, compared to analysts’ expectations of $181.65 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share.
Shares of Investors Bancorp stock traded down $0.19 on Thursday, hitting $10.50. 6,037,800 shares of the company traded hands, compared to its average volume of 2,413,501. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.94. Investors Bancorp has a 12-month low of $9.94 and a 12-month high of $13.75. The stock has a market cap of $2.91 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.14 and a beta of 0.89.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, May 9th. Investors Bancorp’s dividend payout ratio is presently 54.32%.
In related news, Director Robert C. Albanese sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $11.91, for a total value of $59,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Harbour Group L.P. Blue sold 268,100 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $12.33, for a total transaction of $3,305,673.00. The disclosure for this sale can be found here. Corporate insiders own 3.49% of the company’s stock.
A number of large investors have recently modified their holdings of ISBC. JPMorgan Chase & Co. boosted its holdings in Investors Bancorp by 157.6% in the first quarter. JPMorgan Chase & Co. now owns 4,713,564 shares of the savings and loans company’s stock worth $55,856,000 after purchasing an additional 2,883,477 shares in the last quarter. Norges Bank acquired a new position in Investors Bancorp during the 4th quarter worth $28,230,000. Shoals Capital Management LP acquired a new position in Investors Bancorp during the 4th quarter worth $18,200,000. Dimensional Fund Advisors LP lifted its position in Investors Bancorp by 17.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,276,878 shares of the savings and loans company’s stock worth $133,634,000 after acquiring an additional 1,701,726 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Investors Bancorp by 65.2% during 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 acquiring an additional 876,463 shares during the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.
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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