Investar (NASDAQ:ISTR) Issues Earnings Results

Investar (NASDAQ:ISTR) announced its earnings results on Monday. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07, Zacks reports. Investar had a net margin of 13.99% and a return on equity of 8.60%.

Investar Stock Performance

Shares of Investar stock traded up $0.23 on Monday, reaching $22.19. 4,321 shares of the stock were exchanged, compared to its average volume of 36,744. The business has a 50 day moving average price of $19.83 and a two-hundred day moving average price of $18.88. The firm has a market capitalization of $218.46 million, a price-to-earnings ratio of 10.15 and a beta of 0.56. Investar has a twelve month low of $15.39 and a twelve month high of $24.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.30.

Investar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.98%. This is an increase from Investar’s previous quarterly dividend of $0.11. Investar’s dividend payout ratio is 20.09%.

Wall Street Analysts Forecast Growth

ISTR has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Investar from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Piper Sandler upped their price objective on shares of Investar from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd.

Institutional Investors Weigh In On Investar

An institutional investor recently raised its position in Investar stock. Empowered Funds LLC boosted its position in Investar Holding Corporation (NASDAQ:ISTR) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,028 shares of the financial services provider’s stock after buying an additional 3,905 shares during the period. Empowered Funds LLC owned approximately 0.59% of Investar worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Company Profile

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. The company offers various deposit products and services, such as savings, checking, money market, and individual retirement accounts, as well as various certificates of deposit; debit and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.