Investors Bancorp: 4Q Earnings Snapshot
SHORT HILLS, N.J. (AP) _ Investors Bancorp Inc. (ISBC) on Wednesday reported fourth-quarter net income of $33.3 million, after reporting a loss in the same period a year earlier.
The Short Hills, New Jersey-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs, were 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The holding company for Investors Bank posted revenue of $233.6 million in the period. Its adjusted revenue was $148.5 million.
For the year, the company reported profit of $202.6 million, or 72 cents per share. Revenue was reported as $690.1 million.
Investors Bancorp shares have risen 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.77, a fall of 14 percent in the last 12 months.