Investors Bancorp Inc to Issue Quarterly Dividend of $0.12 (NASDAQ:ISBC)

Investors Bancorp Inc (NASDAQ:ISBC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, August 10th will be given 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% meaning its dividend is sufficiently covered by earnings. Equities 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 NASDAQ:ISBC traded down $0.31 on Friday, reaching $8.20. 56,444 shares of the company traded hands, compared to its average volume of 1,443,066. The business’s 50-day simple moving average is $8.28 and its 200 day simple moving average is $9.33. Investors Bancorp has a 52 week low of $6.31 and a 52 week high of $12.74. The stock has a market capitalization of $2.06 billion, a P/E ratio of 11.05 and a beta of 1.14. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.18.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Investors Bancorp had a net margin of 16.82% and a return on equity of 7.02%. The business had revenue of $192.13 million during the quarter, compared to analyst estimates of $201.80 million. During the same period last year, the business posted $0.18 earnings per share. Investors Bancorp’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts expect that Investors Bancorp will post 0.81 EPS for the current fiscal year.

A number of equities research analysts have commented on the stock. ValuEngine downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research upgraded shares of Investors Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub cut shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 13th. Compass Point lowered their target price on shares of Investors Bancorp from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $11.00 target price on shares of Investors Bancorp in a research note on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Investors Bancorp presently has a consensus 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.

Further Reading: Net Margin

Dividend History for Investors Bancorp (NASDAQ:ISBC)

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