Investar (NASDAQ:ISTR) Posts Earnings Results

Investar (NASDAQ:ISTR - Get Free Report) released its quarterly earnings results on Monday. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.07, Zacks reports. The business had revenue of $22.27 million for the quarter, compared to analysts' expectations of $21.15 million. Investar had a return on equity of 8.92% and a net margin of 14.33%.

Investar Price Performance

ISTR stock traded down $0.19 on Thursday, reaching $22.23. The company had a trading volume of 10,681 shares, compared to its average volume of 32,577. Investar has a 1 year low of $15.39 and a 1 year high of $24.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89. The company's fifty day moving average is $19.99 and its 200 day moving average is $18.93. The company has a market cap of $218.81 million, a P/E ratio of 9.92 and a beta of 0.56.

Investar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Investar's previous quarterly dividend of $0.11. Investar's dividend payout ratio is presently 19.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ISTR shares. Piper Sandler upped their price target on Investar from $22.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wall Street Zen cut Investar from a "buy" rating to a "hold" rating in a report on Saturday, May 17th.

Institutional Investors Weigh In On Investar

An institutional investor recently raised its position in Investar stock. Empowered Funds LLC boosted its stake in Investar Holding Corporation (NASDAQ:ISTR - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,028 shares of the financial services provider's stock after buying an additional 3,905 shares during the quarter. Empowered Funds LLC owned approximately 0.59% of Investar worth $1,022,000 as of its most recent filing with the SEC. 50.17% of the stock is owned by 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.