According to Zacks, “Investors Bancorp, Inc. operates as the holding company for Investors Savings Bank, which provides a range of banking services in the United States. The company generates deposits and originates loans. The company operates from its corporate headquarters in Short Hills, New Jersey, and fifty-three branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New Jersey. The Bank is engaged 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. It originates mortgage loans secured by one-to four-family residential real estate and consumer loans, the majority of which are home equity loans and home equity lines of credit. “
Several other research analysts also recently commented on ISBC. ValuEngine downgraded Investors Bancorp from a hold rating to a sell rating in a report on Thursday, April 25th. BidaskClub downgraded Investors Bancorp from a sell rating to a strong sell rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $13.53.
Investors Bancorp (NASDAQ:ISBC) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Investors Bancorp had a return on equity of 7.01% and a net margin of 17.85%. The firm had revenue of $166.15 million during the quarter, compared to analyst estimates of $176.16 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities analysts expect that Investors Bancorp will post 0.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.44 annualized dividend and a dividend yield of 3.96%. Investors Bancorp’s dividend payout ratio is currently 54.32%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ISBC. Dimensional Fund Advisors LP increased its holdings in Investors Bancorp by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,575,152 shares of the savings and loans company’s stock valued at $99,581,000 after purchasing an additional 1,082,081 shares during the period. JPMorgan Chase & Co. increased its holdings in Investors Bancorp by 157.6% during the 1st quarter. JPMorgan Chase & Co. now owns 4,713,564 shares of the savings and loans company’s stock valued at $55,856,000 after purchasing an additional 2,883,477 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in Investors Bancorp by 4.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,618,152 shares of the savings and loans company’s stock valued at $42,875,000 after purchasing an additional 137,958 shares during the period. Geode Capital Management LLC increased its holdings in Investors Bancorp by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 3,030,028 shares of the savings and loans company’s stock valued at $31,511,000 after purchasing an additional 106,555 shares during the period. Finally, Norges Bank purchased a new position in Investors Bancorp during the 4th quarter valued at about $28,230,000. Hedge funds and other institutional investors own 73.85% of the company’s stock.
About Investors Bancorp
Investors Bancorp, Inc operates as the 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, as well as certificates of deposit. The company's loan portfolio comprises multi-family, commercial real estate, commercial and industrial, and construction loans; consumer and other loans primarily consisting of home equity loans, home equity lines of credit, and cash surrender value lending on life insurance contracts; and one-to four-family residential mortgage loans secured by one-to four-family residential real estate.
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