According to Zacks, “Investors Bancorp, Inc. operates as the holding company for Investors Savings Bank, which provides a range of banking services in the United States. The company generates deposits and originates loans. The company operates from its corporate headquarters in Short Hills, New Jersey, and fifty-three branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New Jersey. The Bank is engaged 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. It originates mortgage loans secured by one-to four-family residential real estate and consumer loans, the majority of which are home equity loans and home equity lines of credit. “
Several other brokerages also recently issued reports on ISBC. BidaskClub downgraded shares of Investors Bancorp from a sell rating to a strong sell rating in a research report on Friday, May 3rd. ValuEngine downgraded shares of Investors Bancorp from a hold rating to a sell rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $13.53.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $166.15 million during the quarter, compared to the consensus estimate of $176.16 million. Investors Bancorp had a net margin of 17.85% and a return on equity of 7.01%. During the same period last year, the business posted $0.20 earnings per share. Sell-side analysts predict that Investors Bancorp will post 0.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.44 annualized dividend and a dividend yield of 3.96%. Investors Bancorp’s dividend payout ratio is presently 54.32%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its holdings in shares of Investors Bancorp by 16.0% during the first quarter. Toronto Dominion Bank now owns 6,570 shares of the savings and loans company’s stock worth $78,000 after purchasing an additional 907 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Investors Bancorp by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,261 shares of the savings and loans company’s stock worth $170,000 after purchasing an additional 1,253 shares during the period. Connable Office Inc. increased its holdings in shares of Investors Bancorp by 4.9% during the first quarter. Connable Office Inc. now owns 32,908 shares of the savings and loans company’s stock worth $390,000 after purchasing an additional 1,525 shares during the period. CIBC World Markets Inc. increased its holdings in shares of Investors Bancorp by 3.2% during the first quarter. CIBC World Markets Inc. now owns 70,940 shares of the savings and loans company’s stock worth $841,000 after purchasing an additional 2,203 shares during the period. Finally, Cerebellum GP LLC increased its holdings in shares of Investors Bancorp by 10.7% during the second quarter. Cerebellum GP LLC now owns 31,043 shares of the savings and loans company’s stock worth $346,000 after purchasing an additional 3,000 shares during the period. 73.85% of the stock is currently owned by institutional investors.
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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