Investar (NASDAQ:ISTR) Issues Earnings Results

Key Points

• Investar beat earnings expectations: The company reported quarterly EPS of $0.77, exceeding the $0.76 consensus estimate, while revenue of $36.81 million fell short of the $37.45 million forecast.
• Shares rose 1.6% to $29.19 following the results. Investar has a $402.15 million market capitalization, a price-to-earnings ratio of 12.01, and a 52-week trading range of $22.95 to $31.77.
• Investar declared a quarterly dividend of $0.12, equivalent to $0.48 annually and a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $31.50.

Investar (NASDAQ:ISTR - Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01, FiscalAI reports. Investar had a return on equity of 11.65% and a net margin of 17.55%. The firm had revenue of $36.81 million for the quarter, compared to the consensus estimate of $37.45 million.

Investar Stock Up 1.6%

NASDAQ:ISTR traded up $0.45 during mid-day trading on Thursday, reaching $29.19. The company's stock had a trading volume of 107,309 shares, compared to its average volume of 140,600. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. Investar has a 1 year low of $22.95 and a 1 year high of $31.77. The stock has a fifty day moving average of $29.85 and a 200-day moving average of $29.31. The firm has a market capitalization of $402.15 million, a PE ratio of 12.01 and a beta of 0.45.

Investar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. Investar's dividend payout ratio is 19.75%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research lowered shares of Investar from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Wall Street Zen raised Investar from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Investar in a report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.50.

Investar Company Profile

Investar Corporation is a bank holding company headquartered in Baton Rouge, Louisiana. Through its principal subsidiary, Investar Bank, the company provides banking and financial services to individuals, businesses and other organizations, primarily in Louisiana and surrounding markets.

Investar Bank operates as a full-service community bank. Its offerings include deposit accounts, commercial and consumer lending, residential real estate loans, treasury management services, online and mobile banking, debit cards and other traditional banking products.

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