Investar Holding Corporation Announces Dividend of $0.11 (NASDAQ:ISTR)

Key Points

• Investar Holding Corporation has announced a dividend of $0.11 per share, with a 190.0% yield, payable to investors of record on October 1st, 2023.
• The company's dividend payout ratio is 18.8%, indicating it is well-covered by earnings, with an expected future payout ratio of 17.8% based on projected earnings of $2.36 per share next year.
• Piper Sandler recently upgraded Investar's price target from $22.00 to $27.00, affirming its "overweight" rating, with a consensus rating of "Buy" among analysts.

Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) announced a dividend on Tuesday, September 23rd, investing.com reports. Investors of record on Wednesday, October 1st will be given a dividend of 0.11 per share by the financial services provider on Wednesday, October 1st. This represents a dividend yield of 190.0%. The ex-dividend date is Tuesday, September 30th.

Investar has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Investar to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 17.8%.

Investar Stock Up 0.6%

NASDAQ ISTR opened at $23.14 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $227.47 million, a PE ratio of 10.33 and a beta of 0.62. Investar has a 1 year low of $15.39 and a 1 year high of $24.81. The business's 50-day moving average is $22.45 and its 200 day moving average is $19.93.

Investar (NASDAQ:ISTR - Get Free Report) last posted its earnings results on Monday, July 21st. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $22.27 million for the quarter, compared to analysts' expectations of $21.15 million. Investar had a return on equity of 8.84% and a net margin of 14.33%. Sell-side analysts forecast that Investar will post 1.83 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on Investar from $22.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $27.00.

About Investar

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.

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