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Investors Bancorp, Inc. (ISBC)

Investors Bancorp, Inc. (ISBC)

Investors Bancorp, Inc. (ISBC) is a bank holding company for the Investors Bank in the US. Its deposit products include savings, checking, and money market accounts.

This February, ISBC began rising as it was reported to move into the S&P SmallCap 600 Index to replace Biotelemetry (BEAT). The company is also planning on closing the acquisition of eight Berkshire Bank branches, holding $308 million in consumer and commercial loans and $639 million in deposits at the time of the announcement, before June 30th, as mentioned in their first-quarter conference call.  

In the first quarter of 2021, ISBC had an EPS of $0.31, beating estimates by $0.02, and revenue of $200.74 million, representing a 6.81% growth year over year but missing estimates by $5.08 million. The stock has a forward PE ratio of 11.82 and has gained 41.26% in the past six months and 40.06% year to date. 

This is a good dividend stock to buy now.

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Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money