Investar (NASDAQ:ISTR) Announces Quarterly Earnings Results

Investar (NASDAQ:ISTR) announced its quarterly earnings results on Monday. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04, Zacks reports. Investar had a net margin of 17.55% and a return on equity of 12.44%. The business had revenue of $36.55 million during the quarter, compared to analysts’ expectations of $36.35 million.

Investar Stock Up 0.9%

Shares of NASDAQ:ISTR opened at $29.86 on Wednesday. The firm has a market capitalization of $411.77 million, a PE ratio of 12.29 and a beta of 0.45. Investar has a 1 year low of $20.99 and a 1 year high of $31.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50-day moving average is $29.11 and its two-hundred day moving average is $28.40.

Investar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. This is a boost from Investar’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, June 30th. Investar’s payout ratio is currently 21.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ISTR. Kennedy Capital Management LLC increased its stake in Investar by 1.2% during the 4th quarter. Kennedy Capital Management LLC now owns 137,225 shares of the financial services provider’s stock worth $3,667,000 after buying an additional 1,582 shares during the period. Dimensional Fund Advisors LP boosted its position in Investar by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 391,727 shares of the financial services provider’s stock valued at $9,092,000 after buying an additional 8,856 shares during the period. Fourthstone LLC grew its stake in shares of Investar by 148.7% in the fourth quarter. Fourthstone LLC now owns 695,992 shares of the financial services provider’s stock worth $18,597,000 after acquiring an additional 416,145 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Investar by 4.1% in the third quarter. Alliancebernstein L.P. now owns 431,281 shares of the financial services provider’s stock worth $10,010,000 after acquiring an additional 17,015 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Investar by 1.2% during the second quarter. Geode Capital Management LLC now owns 230,560 shares of the financial services provider’s stock worth $4,455,000 after acquiring an additional 2,639 shares during the period. Institutional investors and hedge funds own 50.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ISTR shares. Piper Sandler reissued a “neutral” rating and issued a $31.50 price target on shares of Investar in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Investar from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings raised Investar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Zacks Research upgraded Investar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Investar presently has an average rating of “Buy” and a consensus target price of $31.50.

Investar Company Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.