Analysts Anticipate Investors Bancorp Inc (NASDAQ:ISBC) to Announce $0.19 EPS

Analysts expect that Investors Bancorp Inc (NASDAQ:ISBC) will report $0.19 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Investors Bancorp’s earnings. Investors Bancorp reported earnings of $0.20 per share during the same quarter last year, which would indicate a negative year over year growth rate of 5%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 28th.

According to Zacks, analysts expect that Investors Bancorp will report full-year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.73 to $0.77. For the next financial year, analysts forecast that the company will post earnings of $0.82 per share, with EPS estimates ranging from $0.76 to $0.90. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $192.13 million for the quarter, compared to the consensus estimate of $201.80 million. Investors Bancorp had a return on equity of 7.08% and a net margin of 16.82%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share.

A number of research analysts recently commented on ISBC shares. Piper Sandler decreased their price target on Investors Bancorp from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Zacks Investment Research lowered shares of Investors Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Finally, Royal Bank of Canada cut their price target on shares of Investors Bancorp from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.00.

NASDAQ:ISBC opened at $7.86 on Thursday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 10.62 and a beta of 1.12. Investors Bancorp has a fifty-two week low of $6.31 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.12 and a current ratio of 1.13. The stock has a fifty day moving average price of $7.67 and a 200-day moving average price of $8.15.

In related news, CFO P. Sean Burke sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $8.40, for a total transaction of $126,000.00. Also, Director James J. Garibaldi sold 25,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $7.79, for a total value of $194,750.00. Following the sale, the director now owns 56,980 shares in the company, valued at approximately $443,874.20. The disclosure for this sale can be found here. Company insiders own 3.49% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ISBC. Advisor Group Holdings Inc. bought a new position in Investors Bancorp in the 1st quarter valued at approximately $27,000. Kistler Tiffany Companies LLC bought a new position in shares of Investors Bancorp during the second quarter valued at $40,000. Point72 Hong Kong Ltd lifted its holdings in shares of Investors Bancorp by 5,896.3% during the second quarter. Point72 Hong Kong Ltd now owns 4,857 shares of the savings and loans company’s stock worth $41,000 after purchasing an additional 4,776 shares during the period. Sit Investment Associates Inc. bought a new stake in shares of Investors Bancorp in the second quarter worth $62,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Investors Bancorp in the second quarter valued at $83,000. Institutional investors own 71.84% of the company’s stock.

Investors Bancorp Company Profile

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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Earnings History and Estimates for Investors Bancorp (NASDAQ:ISBC)

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