Brokerages Anticipate Investors Bancorp Inc (ISBC) to Post $0.20 Earnings Per Share
Brokerages expect Investors Bancorp Inc (NASDAQ:ISBC) to announce $0.20 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Investors Bancorp’s earnings. Investors Bancorp also posted earnings per share of $0.20 in the same quarter last year. The company is expected to announce its next earnings results after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Investors Bancorp will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.80 to $0.84. For the next year, analysts expect that the company will post earnings of $0.87 per share, with EPS estimates ranging from $0.82 to $0.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, January 30th. The savings and loans company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $148.51 million for 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 prior year, the company posted $0.17 EPS.
NASDAQ ISBC traded down $0.06 during trading hours on Monday, reaching $12.44. 12,921 shares of the company’s stock were exchanged, compared to its average volume of 2,329,510. The firm has a market cap of $3.53 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. Investors Bancorp has a one year low of $9.94 and a one year high of $13.95. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.23 and a quick ratio of 1.23.
In other news, Director Doreen R. Byrnes sold 30,000 shares of the stock in a transaction 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 filing with the SEC, which is accessible through the SEC website. Also, major shareholder Harbour Group L.P. Blue sold 268,100 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $12.33, for a total value of $3,305,673.00. The disclosure for this sale can be found here. Insiders sold a total of 303,100 shares of company stock worth $3,747,423 over the last quarter. Corporate insiders own 3.51% of the company’s stock.
Several hedge funds have recently bought and sold shares of ISBC. Norges Bank acquired a new stake in Investors Bancorp during the 4th quarter worth $28,230,000. Marshall Wace LLP bought a new position in Investors Bancorp during the 3rd quarter worth about $22,623,000. Shoals Capital Management LP bought a new position in Investors Bancorp during the 4th quarter worth about $18,200,000. Dimensional Fund Advisors LP increased its holdings in Investors Bancorp by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock worth $99,581,000 after purchasing an additional 1,082,081 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings 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 purchasing an additional 876,463 shares in the last quarter. 76.03% of the stock is currently owned by 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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