Investors Bancorp Inc (NASDAQ:ISBC) – Piper Sandler upped their Q3 2020 earnings per share (EPS) estimates for shares of Investors Bancorp in a research note issued on Monday, June 29th. Piper Sandler analyst M. Fitzgibbon now anticipates that the savings and loans company will earn $0.24 per share for the quarter, up from their prior estimate of $0.21. Piper Sandler also issued estimates for Investors Bancorp’s FY2020 earnings at $0.81 EPS.
Other equities research analysts have also issued reports about the company. Compass Point lowered their price target on Investors Bancorp from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Investment Research lowered Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. ValuEngine lowered Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $11.00 price target on shares of Investors Bancorp in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods raised Investors Bancorp from a “market perform” rating to an “outperform” rating and set a $11.50 price target for the company in a research report on Wednesday, April 1st. Three analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.50.
Investors Bancorp (NASDAQ:ISBC) last issued its earnings results on Wednesday, April 29th. The savings and loans company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). Investors Bancorp had a return on equity of 7.03% and a net margin of 17.03%. The firm had revenue of $187.94 million during the quarter, compared to the consensus estimate of $189.90 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. Investors Bancorp’s revenue for the quarter was up 8.1% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Investors Bancorp during the 4th quarter valued at $5,958,000. Advisor Group Holdings Inc. bought a new position in shares of Investors Bancorp during the 1st quarter worth $27,000. Point72 Hong Kong Ltd grew its stake in shares of Investors Bancorp by 22.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 4,932 shares of the savings and loans company’s stock worth $59,000 after acquiring an additional 893 shares during the period. FDx Advisors Inc. bought a new position in shares of Investors Bancorp during the 1st quarter worth $412,000. Finally, GAM Holding AG bought a new position in shares of Investors Bancorp during the 1st quarter worth $82,000. 70.51% of the stock is owned by hedge funds and other institutional investors.
About Investors Bancorp
Investors Bancorp, Inc operates as the bank 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. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; one-to four-family residential mortgage loans secured by one-to four-family residential real estate; and consumer and other loans primarily consisting of home equity loans, and home equity lines of credit, as well as various insurance products comprising life insurance, fixed annuities, and indexed annuities.
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