Investors Bancorp Inc (NASDAQ:ISBC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders 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 5.87%. The ex-dividend date is Friday, August 7th.
Investors Bancorp has raised its dividend payment by an average of 69.2% per year over the last three years and has increased 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. 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%.
Investors Bancorp stock traded down $0.33 during mid-day trading on Friday, reaching $8.18. The company’s stock had a trading volume of 51,252 shares, compared to its average volume of 1,443,066. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 11.50 and a beta of 1.14. The business has a 50 day moving average price of $8.28 and a 200-day moving average price of $9.33. 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 has a twelve month low of $6.31 and a twelve month high of $12.74.
Investors Bancorp (NASDAQ:ISBC) last released its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $192.13 million during the quarter, compared to the consensus estimate of $201.80 million. Investors Bancorp had a net margin of 16.82% and a return on equity of 7.02%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, equities analysts expect that Investors Bancorp will post 0.81 EPS for the current fiscal year.
ISBC has been the subject of several analyst reports. ValuEngine downgraded shares of Investors Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Compass Point reduced their price target 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 shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, June 13th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $11.00 price target on shares of Investors Bancorp in a report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price 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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