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

Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) announced a quarterly dividend on Friday, June 20th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.11 per share by the financial services provider on Thursday, July 31st. This represents a $0.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, June 30th. This is a 4.8% increase from Investar's previous quarterly dividend of $0.11.

Investar has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.5%

Shares of Investar stock traded down $0.09 on Friday, hitting $18.18. 25,159 shares of the company's stock traded hands, compared to its average volume of 43,247. Investar has a one year low of $14.60 and a one year high of $24.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $178.84 million, a PE ratio of 8.30 and a beta of 0.56. The firm's 50-day moving average price is $18.59 and its two-hundred day moving average price is $19.17.

Investar (NASDAQ:ISTR - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.29. The firm had revenue of $20.25 million for the quarter, compared to analysts' expectations of $19.90 million. Investar had a return on equity of 8.60% and a net margin of 13.99%. On average, research analysts expect that Investar will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Investar

An institutional investor recently raised its position in Investar stock. Empowered Funds LLC grew its position in shares of Investar Holding Corporation (NASDAQ:ISTR - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,028 shares of the financial services provider's stock after acquiring an additional 3,905 shares during the quarter. Empowered Funds LLC owned about 0.59% of Investar worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 50.17% of the company's stock.

Analyst Ratings Changes

ISTR has been the topic of several recent analyst reports. Wall Street Zen cut Investar from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Piper Sandler raised Investar from a "neutral" rating to an "overweight" rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, April 22nd.

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.

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