Investar (NASDAQ:ISTR) Issues Quarterly Earnings Results

Investar (NASDAQ:ISTR) released its quarterly earnings data on Monday. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18, FiscalAI reports. Investar had a net margin of 14.92% and a return on equity of 9.20%.

Investar Stock Performance

Investar stock opened at $28.70 on Monday. Investar has a one year low of $16.30 and a one year high of $31.77. The company’s fifty day moving average price is $28.11 and its two-hundred day moving average price is $26.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $394.34 million, a price-to-earnings ratio of 13.41 and a beta of 0.51.

Investar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.11 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.44 dividend on an annualized basis and a yield of 1.5%. Investar’s dividend payout ratio is currently 20.56%.

Wall Street Analysts Forecast Growth

ISTR has been the topic of several research analyst reports. Zacks Research cut shares of Investar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings lowered Investar from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Investar presently has an average rating of “Hold” and an average price target of $29.00.

Insider Buying and Selling at Investar

In other news, CEO John J. D’angelo sold 26,163 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $28.01, for a total transaction of $732,825.63. Following the transaction, the chief executive officer owned 242,750 shares of the company’s stock, valued at approximately $6,799,427.50. This represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Investar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fourthstone LLC lifted its stake in shares of Investar by 148.7% in the fourth quarter. Fourthstone LLC now owns 695,992 shares of the financial services provider’s stock worth $18,597,000 after buying an additional 416,145 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Investar by 91.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 111,410 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 53,090 shares during the period. Kennedy Capital Management LLC lifted its position in Investar by 63.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 135,643 shares of the financial services provider’s stock worth $3,148,000 after acquiring an additional 52,744 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in Investar during the third quarter valued at about $887,000. Finally, Marshall Wace LLP grew its position in shares of Investar by 72.4% in the second quarter. Marshall Wace LLP now owns 58,221 shares of the financial services provider’s stock valued at $1,125,000 after purchasing an additional 24,451 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

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.