Equities analysts predict that Investors Bancorp, Inc. (NASDAQ:ISBC) will report sales of $178.16 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Investors Bancorp’s earnings. The lowest sales estimate is $177.61 million and the highest is $178.70 million. Investors Bancorp reported sales of $168.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that Investors Bancorp will report full-year sales of $178.16 million for the current year, with estimates ranging from $709.55 million to $712.20 million. For the next financial year, analysts forecast that the firm will post sales of $747.82 million per share, with estimates ranging from $737.44 million to $758.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Investors Bancorp.
Investors Bancorp (NASDAQ:ISBC) last announced its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Investors Bancorp had a net margin of 20.91% and a return on equity of 5.79%. The firm had revenue of $176.38 million during the quarter, compared to the consensus estimate of $179.25 million. During the same period in the previous year, the business earned $0.15 earnings per share.
A number of equities analysts have weighed in on ISBC shares. Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price target on shares of Investors Bancorp in a research report on Thursday, August 3rd. Stephens set a $16.00 price target on shares of Investors Bancorp and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of Investors Bancorp in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Investors Bancorp currently has an average rating of “Hold” and an average target price of $15.08.
Shares of Investors Bancorp (NASDAQ ISBC) traded down 0.66% on Thursday, reaching $13.65. 2,679,879 shares of the company’s stock traded hands. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 21.29 and a beta of 0.69. Investors Bancorp has a 52-week low of $11.58 and a 52-week high of $15.11. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $13.48.
In other Investors Bancorp news, Director Brian D. Dittenhafer sold 22,500 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $13.05, for a total transaction of $293,625.00. Following the completion of the transaction, the director now owns 350,388 shares in the company, valued at $4,572,563.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Cashill sold 25,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total transaction of $327,000.00. Following the transaction, the director now owns 756,902 shares of the company’s stock, valued at approximately $9,900,278.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $788,100. 2.96% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Investors Bancorp by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,424,889 shares of the savings and loans company’s stock valued at $336,850,000 after purchasing an additional 238,306 shares during the last quarter. BlackRock Inc. lifted its position in Investors Bancorp by 24,033.7% during the first quarter. BlackRock Inc. now owns 19,801,226 shares of the savings and loans company’s stock valued at $284,740,000 after purchasing an additional 19,719,178 shares during the last quarter. State Street Corp lifted its position in Investors Bancorp by 5.5% during the second quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock valued at $175,828,000 after purchasing an additional 688,073 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Investors Bancorp by 80.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock valued at $118,659,000 after purchasing an additional 3,950,175 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Investors Bancorp by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,892,735 shares of the savings and loans company’s stock valued at $105,449,000 after purchasing an additional 88,113 shares during the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.
About Investors Bancorp
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.
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