Investors Bancorp (NASDAQ:ISBC) Releases Earnings Results, Beats Expectations By $0.01 EPS
Investors Bancorp (NASDAQ:ISBC) announced its earnings results on Wednesday. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01, MarketWatch Earnings reports. Investors Bancorp had a return on equity of 7.02% and a net margin of 16.82%. The business had revenue of $192.13 million for the quarter, compared to analyst estimates of $201.80 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year.
Shares of NASDAQ ISBC traded down $0.41 during midday trading on Friday, hitting $8.10. 82,515 shares of the company’s stock were exchanged, compared to its average volume of 1,443,066. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s 50 day moving average price is $8.28 and its 200-day moving average price is $9.33. The firm has a market cap of $2.06 billion, a P/E ratio of 11.05 and a beta of 1.14. Investors Bancorp has a twelve month low of $6.31 and a twelve month high of $12.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 5.93%. Investors Bancorp’s dividend payout ratio is presently 62.34%.
Investors Bancorp Company Profile
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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