Investar (NASDAQ:ISTR) Shares Pass Below 50-Day Moving Average - Here's What Happened

Key Points

• Investar shares fell below their 50-day moving average, trading as low as $28.66 and last changing hands at $28.71 on higher-than-usual volume of 203,296 shares.
• Analyst sentiment is mixed but leans cautious: the stock’s consensus rating is Hold, with a consensus price target of $31.50 after recent upgrades and downgrades from several firms.
• Investar recently raised its quarterly dividend to $0.12 per share from $0.11, while its latest earnings beat EPS expectations even though revenue came in slightly below estimates.

Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $28.84 and traded as low as $28.66. Investar shares last traded at $28.71, with a volume of 203,296 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ISTR shares. Piper Sandler reissued a "neutral" rating and set a $31.50 target price on shares of Investar in a research note on Thursday, April 23rd. Wall Street Zen raised Investar from a "hold" rating to a "buy" rating in a report on Sunday, May 24th. Weiss Ratings upgraded Investar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 1st. Finally, Zacks Research lowered Investar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.50.

Investar Price Performance

The company has a 50-day moving average of $28.84 and a 200 day moving average of $28.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $395.91 million, a PE ratio of 12.59 and a beta of 0.45.

Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.18. Investar had a return on equity of 10.62% and a net margin of 16.53%.The company had revenue of $35.64 million for the quarter, compared to analyst estimates of $36.40 million. Sell-side analysts predict that Investar Holding Corporation will post 3.1 EPS for the current year.

Investar Increases Dividend

The firm also recently declared 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 is a boost from Investar's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Investar's dividend payout ratio (DPR) is presently 21.05%.

Institutional Trading of Investar

Hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Investar by 50.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 163,271 shares of the financial services provider's stock worth $4,452,000 after purchasing an additional 54,447 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Investar in the first quarter valued at approximately $321,000. AlTi Global Inc. purchased a new position in Investar during the first quarter worth approximately $2,370,000. Kestra Advisory Services LLC purchased a new position in Investar during the first quarter worth approximately $2,017,000. Finally, True North Advisors LLC acquired a new position in Investar during the first quarter worth $738,000. Institutional investors and hedge funds own 50.17% of the company's stock.

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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