Zacks: Brokerages Anticipate Investors Bancorp Inc (ISBC) Will Announce Earnings of $0.19 Per Share

Brokerages expect Investors Bancorp Inc (NASDAQ:ISBC) to report earnings per share of $0.19 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Investors Bancorp’s earnings. Investors Bancorp posted earnings of $0.16 per share in the same quarter last year, which indicates a positive year over year growth rate of 18.8%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Investors Bancorp will report full-year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.76 to $0.78. For the next year, analysts expect that the firm will post earnings of $0.78 per share, with EPS estimates ranging from $0.75 to $0.81. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $182.78 million for the quarter, compared to analyst estimates of $180.64 million. Investors Bancorp had a return on equity of 6.71% and a net margin of 16.21%. During the same period in the previous year, the company posted $0.14 EPS.

Several equities analysts have recently weighed in on ISBC shares. Stephens reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Investors Bancorp in a research note on Thursday, August 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Investors Bancorp in a research note on Friday, July 27th. Zacks Investment Research raised Investors Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 4th. ValuEngine raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Finally, BidaskClub raised Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Investors Bancorp has a consensus rating of “Hold” and an average price target of $14.79.

In related news, Director Robert C. Albanese sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $12.29, for a total transaction of $61,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.51% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ISBC. Mcrae Capital Management Inc. increased its holdings in Investors Bancorp by 29.8% during the 3rd quarter. Mcrae Capital Management Inc. now owns 22,723 shares of the savings and loans company’s stock worth $279,000 after purchasing an additional 5,223 shares during the last quarter. Bank of Montreal Can increased its holdings in Investors Bancorp by 28.8% during the 3rd quarter. Bank of Montreal Can now owns 393,993 shares of the savings and loans company’s stock worth $4,834,000 after purchasing an additional 88,212 shares during the last quarter. CHICAGO TRUST Co NA increased its holdings in Investors Bancorp by 19.9% during the 3rd quarter. CHICAGO TRUST Co NA now owns 26,101 shares of the savings and loans company’s stock worth $320,000 after purchasing an additional 4,331 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Investors Bancorp by 236.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 110,320 shares of the savings and loans company’s stock worth $1,353,000 after purchasing an additional 77,555 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Investors Bancorp during the 3rd quarter worth approximately $170,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ISBC traded down $0.05 during midday trading on Thursday, hitting $11.49. The stock had a trading volume of 2,956,321 shares, compared to its average volume of 2,285,950. The firm has a market capitalization of $4.41 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.33 and a beta of 0.58. Investors Bancorp has a 1-year low of $11.14 and a 1-year high of $14.69. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.23.

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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Earnings History and Estimates for Investors Bancorp (NASDAQ:ISBC)

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