Investar (NASDAQ:ISTR) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Investar beat quarterly earnings estimates, reporting $0.75 per share versus the $0.70 analyst consensus. The company also posted a 10.62% return on equity and a 16.53% net margin.
• The company raised its dividend to $0.12 per share quarterly from $0.11, equal to an annualized payout of $0.48 and a 1.6% yield. The dividend will be paid on July 31 to shareholders of record on June 30.
• Wall Street sentiment remains constructive, with Investar carrying a consensus “Buy” rating and a $31.50 price target. Several firms recently upgraded the stock, including Zacks Research moving it to “strong-buy.”

Investar (NASDAQ:ISTR - Get Free Report) released its quarterly earnings results on Monday. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.05, Zacks reports. Investar had a return on equity of 10.62% and a net margin of 16.53%.

Investar Price Performance

Shares of NASDAQ ISTR opened at $29.27 on Monday. The business's fifty day moving average price is $29.03 and its two-hundred day moving average price is $28.36. The firm has a market capitalization of $403.63 million, a PE ratio of 12.71 and a beta of 0.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. Investar has a 1-year low of $20.99 and a 1-year high of $31.77.

Investar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. This is an increase from Investar's previous quarterly dividend of $0.11. Investar's payout ratio is presently 21.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider's stock valued at $56,000 after buying an additional 2,363 shares during the period. Public Employees Retirement System of Ohio raised its stake in Investar by 69.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 666 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Investar by 12.8% in the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider's stock worth $202,000 after buying an additional 1,182 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Investar by 93.7% during the third quarter. JPMorgan Chase & Co. now owns 11,117 shares of the financial services provider's stock valued at $258,000 after buying an additional 5,379 shares in the last quarter. Institutional investors own 50.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ISTR shares. Weiss Ratings upgraded shares of Investar from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 1st. Wall Street Zen upgraded shares of Investar from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Zacks Research raised shares of Investar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Piper Sandler reissued a "neutral" rating and issued a $31.50 target price on shares of Investar in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Investar presently has a consensus rating of "Buy" and a consensus price target of $31.50.

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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