FIG Partners Analysts Decrease Earnings Estimates for Investors Bancorp, Inc. (ISBC)
Investors Bancorp, Inc. (NASDAQ:ISBC) – Research analysts at FIG Partners reduced their Q3 2018 earnings per share (EPS) estimates for shares of Investors Bancorp in a report released on Friday. FIG Partners analyst D. Bishop now expects that the savings and loans company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.17. FIG Partners also issued estimates for Investors Bancorp’s Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.63 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.18 EPS and FY2019 earnings at $0.72 EPS.
Investors Bancorp (NASDAQ:ISBC) last posted its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The company had revenue of $179.31 million during the quarter, compared to analyst estimates of $178.16 million. Investors Bancorp had a net margin of 20.55% and a return on equity of 5.85%. During the same quarter in the prior year, the business earned $0.15 earnings per share.
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Several other equities research analysts also recently commented on ISBC. Stephens started coverage on shares of Investors Bancorp in a report on Thursday, July 13th. They set an “overweight” rating and a $16.00 price objective on the stock. BidaskClub downgraded shares of Investors Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.00 price objective on shares of Investors Bancorp in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Investors Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of Investors Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.25.
Investors Bancorp (ISBC) traded down $0.07 during midday trading on Monday, reaching $13.70. 341,282 shares of the company’s stock traded hands, compared to its average volume of 2,877,321. The stock has a market capitalization of $4,216.05, a P/E ratio of 21.52, a PEG ratio of 1.99 and a beta of 0.68. Investors Bancorp has a 1-year low of $12.12 and a 1-year high of $15.11. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.24 and a current ratio of 1.24.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Investors Bancorp by 24,033.7% in the first quarter. BlackRock Inc. now owns 19,801,226 shares of the savings and loans company’s stock worth $284,740,000 after buying an additional 19,719,178 shares in the last quarter. State Street Corp raised its stake in Investors Bancorp by 5.5% in the second quarter. State Street Corp now owns 13,160,460 shares of the savings and loans company’s stock valued at $175,828,000 after purchasing an additional 688,073 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Investors Bancorp by 80.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,881,755 shares of the savings and loans company’s stock valued at $118,659,000 after purchasing an additional 3,950,175 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Investors Bancorp by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,892,735 shares of the savings and loans company’s stock valued at $105,449,000 after purchasing an additional 88,113 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Investors Bancorp in the second quarter valued at approximately $50,349,000. 74.09% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert M. Cashill sold 25,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $13.08, for a total value of $327,000.00. Following the sale, the director now directly owns 756,902 shares of the company’s stock, valued at $9,900,278.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian D. Dittenhafer sold 22,500 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $13.05, for a total transaction of $293,625.00. Following the completion of the sale, the director now directly owns 350,388 shares in the company, valued at $4,572,563.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,000 shares of company stock worth $788,100. Insiders own 2.96% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from Investors Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 9th. Investors Bancorp’s dividend payout ratio is presently 50.00%.
Investors Bancorp Company Profile
Investors Bancorp, Inc is a holding company for Investors Bank (the Bank). The Bank is a chartered savings bank. The Company is in the business of attracting deposits from the public through its branch network and borrowing funds in the wholesale markets to originate loans and to invest in securities.
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