Investors Bancorp Inc. (ISBC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Posted by on Jul 31st, 2016

Investors Bancorp Inc. (NASDAQ:ISBC) released its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01.

Investors Bancorp (NASDAQ:ISBC) traded down 0.09% during mid-day trading on Wednesday, hitting $11.37. 1,697,265 shares of the stock traded hands. Investors Bancorp has a 52 week low of $10.67 and a 52 week high of $13.13. The firm’s 50-day moving average price is $11.35 and its 200-day moving average price is $11.50. The firm has a market cap of $3.53 billion and a P/E ratio of 19.91.

In other news, Director Michele N. Siekerka sold 25,407 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $11.57, for a total transaction of $293,958.99. Following the transaction, the director now directly owns 150,616 shares in the company, valued at approximately $1,742,627.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Investors Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Deutsche Bank AG reissued a “hold” rating and issued a $12.00 price target on shares of Investors Bancorp in a research report on Tuesday, April 5th. Finally, Compass Point raised shares of Investors Bancorp from a “sell” rating to a “neutral” rating and increased their price target for the stock from $10.50 to $11.50 in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.90.

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.