Investors Bancorp Inc (NASDAQ:ISBC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be paid a dividend of 0.12 per share by the savings and loans company on Tuesday, August 25th. This represents a $0.48 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Friday, August 7th.
Investors Bancorp has raised its dividend by an average of 69.2% per year over the last three years and has raised its dividend every year for the last 5 years. Investors Bancorp has a dividend payout ratio of 63.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Investors Bancorp to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 52.2%.
Shares of ISBC stock traded down $0.30 during trading hours on Friday, hitting $8.21. The company had a trading volume of 59,907 shares, compared to its average volume of 1,443,066. Investors Bancorp has a 12 month low of $6.31 and a 12 month high of $12.74. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.20 and a current ratio of 1.20. The firm’s fifty day moving average is $8.28 and its 200 day moving average is $9.33. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 11.05 and a beta of 1.14.
A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $11.00 target price on shares of Investors Bancorp in a research report on Monday, April 13th. Compass Point dropped their price objective on shares of Investors Bancorp from $13.00 to $10.50 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Investment Research raised Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine lowered Investors Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, BidaskClub cut shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Investors Bancorp currently has an average rating of “Hold” and a consensus price target of $10.50.
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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