Investors Bancorp Inc (NASDAQ:ISBC) Expected to Announce Earnings of $0.18 Per Share

Wall Street brokerages expect Investors Bancorp Inc (NASDAQ:ISBC) to report earnings of $0.18 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Investors Bancorp’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.19. Investors Bancorp also posted earnings of $0.18 per share in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Wednesday, July 22nd.

On average, analysts expect that Investors Bancorp will report full-year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.77 to $0.86. For the next financial year, analysts forecast that the company will report earnings of $0.92 per share, with EPS estimates ranging from $0.80 to $0.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Investors Bancorp.

Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Wednesday, April 29th. The savings and loans company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). The firm had revenue of $187.94 million during the quarter, compared to analyst estimates of $189.90 million. Investors Bancorp had a return on equity of 7.03% and a net margin of 17.03%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share.

ISBC has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $11.00 target price on shares of Investors Bancorp in a report on Monday, April 13th. Compass Point lowered their price objective on shares of Investors Bancorp from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Friday, May 1st. ValuEngine downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. BidaskClub downgraded shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 13th. Finally, Keefe, Bruyette & Woods raised shares of Investors Bancorp from a “market perform” rating to an “outperform” rating and set a $11.50 price objective for the company in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

ISBC traded up $0.37 during mid-day trading on Monday, hitting $8.25. The stock had a trading volume of 109,874 shares, compared to its average volume of 1,777,243. The stock’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $9.97. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.08 and a beta of 1.13. Investors Bancorp has a 1-year low of $6.31 and a 1-year high of $12.74.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. bought a new position in Investors Bancorp in the first quarter valued at $27,000. Point72 Hong Kong Ltd grew its position in Investors Bancorp by 22.1% in the fourth quarter. Point72 Hong Kong Ltd now owns 4,932 shares of the savings and loans company’s stock valued at $59,000 after purchasing an additional 893 shares in the last quarter. GAM Holding AG bought a new position in Investors Bancorp in the first quarter valued at $82,000. Oppenheimer Asset Management Inc. bought a new position in Investors Bancorp in the first quarter valued at $88,000. Finally, Janney Montgomery Scott LLC bought a new position in Investors Bancorp in the first quarter valued at $89,000. 70.51% of the stock is owned by institutional investors and hedge funds.

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

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