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. “
ISBC has been the topic of several other reports. Royal Bank of Canada reaffirmed a buy rating and issued a $11.00 price target on shares of Investors Bancorp in a research report on Monday, April 13th. ValuEngine downgraded Investors Bancorp from a hold rating to a sell rating in a research report on Thursday, April 2nd. BidaskClub downgraded Investors Bancorp from a sell rating to a strong sell rating in a research report on Saturday, June 13th. Compass Point lowered their price target on Investors Bancorp from $13.00 to $10.50 and set a buy rating on the stock in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods raised Investors Bancorp from a market perform rating to an outperform rating and set a $11.50 price target on the stock in a research report on Wednesday, April 1st. Two 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. The company presently has a consensus rating of Hold and a consensus price target of $10.50.
Investors Bancorp (NASDAQ:ISBC) last posted its earnings results on Wednesday, July 29th. The savings and loans company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Investors Bancorp had a return on equity of 7.02% and a net margin of 16.82%. The company had revenue of $192.13 million for the quarter, compared to analyst estimates of $201.80 million. During the same period last year, the company earned $0.18 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts predict that Investors Bancorp will post 0.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, August 7th. Investors Bancorp’s dividend payout ratio (DPR) is presently 62.34%.
A number of hedge funds have recently added to or reduced their stakes in ISBC. Fuller & Thaler Asset Management Inc. raised its position in Investors Bancorp by 0.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 21,802,402 shares of the savings and loans company’s stock worth $174,201,000 after purchasing an additional 89,555 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Investors Bancorp by 128.1% during the 1st quarter. Nuveen Asset Management LLC now owns 4,656,217 shares of the savings and loans company’s stock worth $37,203,000 after acquiring an additional 2,614,596 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Investors Bancorp by 3.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,896,903 shares of the savings and loans company’s stock worth $33,124,000 after acquiring an additional 131,288 shares during the period. Geode Capital Management LLC grew its holdings in Investors Bancorp by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,617,919 shares of the savings and loans company’s stock worth $28,906,000 after acquiring an additional 58,276 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. grew its holdings in Investors Bancorp by 143.1% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 3,528,891 shares of the savings and loans company’s stock worth $28,196,000 after acquiring an additional 2,077,225 shares during the period. 70.50% of the stock is currently 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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