Equities research analysts expect that Investar Holding Co. (NASDAQ:ISTR) will post sales of $23.56 million for the current quarter, Zacks reports. Two analysts have issued estimates for Investar's earnings. The lowest sales estimate is $23.30 million and the highest is $23.81 million. Investar posted sales of $22.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The business is expected to announce its next earnings report on Monday, January 24th.
According to Zacks, analysts expect that Investar will report full year sales of $96.31 million for the current financial year, with estimates ranging from $96.10 million to $96.52 million. For the next financial year, analysts forecast that the company will post sales of $94.80 million, with estimates ranging from $92.30 million to $97.30 million. Zacks' sales calculations are a mean average based on a survey of research firms that follow Investar.
Investar (NASDAQ:ISTR) last announced its earnings results on Wednesday, October 20th. The financial services provider reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.01). The business had revenue of $25.46 million for the quarter, compared to the consensus estimate of $24.56 million. Investar had a net margin of 5.15% and a return on equity of 1.57%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Investar from a "strong sell" rating to a "hold" rating in a research report on Thursday, December 23rd. TheStreet cut Investar from a "b" rating to a "c" rating in a research report on Friday, October 22nd. Finally, Piper Sandler cut Investar from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $27.00 to $20.00 in a research report on Friday, October 15th.
Shares of Investar stock opened at $18.34 on Thursday. The firm's fifty day simple moving average is $18.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market cap of $189.69 million, a P/E ratio of 35.96 and a beta of 0.67. Investar has a 1-year low of $15.66 and a 1-year high of $23.69.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, December 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 30th. Investar's payout ratio is 62.75%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Investar by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 101,921 shares of the financial services provider's stock worth $2,244,000 after acquiring an additional 1,004 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Investar by 18.7% in the 2nd quarter. Royal Bank of Canada now owns 10,539 shares of the financial services provider's stock worth $241,000 after acquiring an additional 1,658 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Investar by 28.9% in the 3rd quarter. Trexquant Investment LP now owns 11,270 shares of the financial services provider's stock worth $248,000 after acquiring an additional 2,530 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Investar by 25.8% in the 3rd quarter. Marshall Wace LLP now owns 25,990 shares of the financial services provider's stock worth $572,000 after acquiring an additional 5,330 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Investar by 42.6% in the 2nd quarter. Morgan Stanley now owns 18,674 shares of the financial services provider's stock worth $428,000 after acquiring an additional 5,576 shares during the last quarter. Institutional investors and hedge funds own 54.99% of the company's stock.
Investar Holding Corp. is a financial holding company, which engages in the provision of full banking services. It offers a full range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses as well as loans to individuals. Its lending products consists of owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while its loans to individuals include first and second mortgage loans, installment loans, and lines of credit.
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