Investar (NASDAQ:ISTR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Investar (NASDAQ:ISTR) issued its quarterly earnings results on Thursday. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04, FiscalAI reports. The business had revenue of $23.93 million during the quarter. Investar had a return on equity of 9.38% and a net margin of 14.87%.

Investar Trading Up 1.1%

Shares of ISTR stock traded up $0.31 during trading on Thursday, hitting $28.25. 56,843 shares of the stock traded hands, compared to its average volume of 54,353. Investar has a 52-week low of $15.39 and a 52-week high of $28.78. The firm has a market capitalization of $277.13 million, a P/E ratio of 12.61 and a beta of 0.54. The firm’s fifty day moving average price is $26.20 and its 200-day moving average price is $23.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.90.

Investar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Investar’s payout ratio is presently 19.64%.

Institutional Investors Weigh In On Investar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $56,000 after purchasing an additional 2,363 shares during the period. BNP Paribas Financial Markets lifted its position in 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 buying an additional 666 shares during the last quarter. Rhumbline Advisers lifted its position in Investar by 12.8% in the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock valued at $202,000 after buying an additional 1,182 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Investar by 93.7% during the third quarter. JPMorgan Chase & Co. now owns 11,117 shares of the financial services provider’s stock worth $258,000 after buying an additional 5,379 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Investar by 46.9% during the second quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 5,738 shares during the last quarter. Hedge funds and other institutional investors own 50.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ISTR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Investar in a research note on Monday, December 29th. Zacks Research lowered shares of Investar from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Piper Sandler increased their price target on Investar to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

About Investar

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.