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

Key Points

• Investar declared a quarterly dividend of $0.11 per share, payable April 30 to holders of record March 31 (ex-dividend March 31), equal to $0.44 annualized and roughly a 1.6% yield.
• Dividend appears well-covered and consistent: the company has increased its dividend for 10 consecutive years, averaged only a 0.1% annual raise over the past three years, and maintains a low payout ratio (~19.7%, forecast ~18.6%).
• Mixed recent results but positive analyst stance: Investar beat Q earnings estimates ($0.58 vs. $0.54) while missing revenue forecasts ($23.93M vs. $37.35M); the stock trades at a P/E of ~12.6 and carries a consensus "Buy" with an average price target of $29.00.

Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) announced a quarterly dividend on Thursday, March 19th. Investors of record on Tuesday, March 31st will be given a dividend of 0.11 per share by the financial services provider on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 31st.

Investar has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 10 years. Investar has a dividend payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Investar to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 18.6%.

Investar Trading Up 0.9%

Shares of NASDAQ:ISTR opened at $26.89 on Friday. The stock has a market capitalization of $263.79 million, a price-to-earnings ratio of 12.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.90 and a current ratio of 0.92. The stock's 50-day simple moving average is $28.27 and its two-hundred day simple moving average is $25.75. Investar has a 52-week low of $15.39 and a 52-week high of $31.77.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $23.93 million for the quarter, compared to analysts' expectations of $37.35 million. Investar had a net margin of 14.92% and a return on equity of 9.20%. Analysts expect that Investar will post 1.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ISTR shares. Zacks Research raised Investar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 27th. Weiss Ratings lowered shares of Investar from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $29.00.

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.

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