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

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

Investar Stock Down 1.2%

Shares of Investar stock opened at $29.52 on Monday. The stock has a market cap of $407.09 million, a price-to-earnings ratio of 12.95 and a beta of 0.45. The firm’s 50-day moving average is $29.03 and its two-hundred day moving average is $28.36. 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 company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Investar’s previous quarterly dividend of $0.11. Investar’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ISTR. Piper Sandler reiterated a “neutral” rating and set a $31.50 price target on shares of Investar in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Investar from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. Zacks Research upgraded shares of Investar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded Investar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Investar has a consensus rating of “Buy” and a consensus target price of $31.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ISTR. Fourthstone LLC lifted its position 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 valued at $18,597,000 after acquiring an additional 416,145 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Investar by 91.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 111,410 shares of the financial services provider’s stock valued at $2,586,000 after purchasing an additional 53,090 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Investar by 63.6% during the third quarter. Kennedy Capital Management LLC now owns 135,643 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 52,744 shares during the last quarter. Mendon Capital Advisors Corp acquired a new stake in Investar in the 3rd quarter valued at approximately $887,000. Finally, Marshall Wace LLP lifted its stake in Investar by 72.4% during the 2nd quarter. Marshall Wace LLP now owns 58,221 shares of the financial services provider’s stock worth $1,125,000 after acquiring an additional 24,451 shares in the last quarter. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

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.