Investar (NASDAQ:ISTR) Releases Earnings Results, Beats Expectations By $0.04 EPS
by Renee Jackson · The Cerbat GemInvestar (NASDAQ:ISTR – Get Free Report) posted its earnings results on Thursday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04, FiscalAI reports. Investar had a net margin of 14.87% and a return on equity of 9.38%. The firm had revenue of $23.93 million during the quarter.
Investar Stock Up 1.1%
Shares of ISTR stock traded up $0.31 on Thursday, reaching $28.25. 56,843 shares of the stock were exchanged, compared to its average volume of 54,353. Investar has a twelve month low of $15.39 and a twelve month high of $28.78. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $277.13 million, a price-to-earnings ratio of 12.61 and a beta of 0.54. The business’s 50 day moving average price is $26.20 and its 200 day moving average price is $23.96.
Investar Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.11 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.44 annualized dividend and a dividend yield of 1.6%. Investar’s payout ratio is 19.64%.
Wall Street Analysts Forecast Growth
ISTR has been the topic of several research analyst reports. Zacks Research lowered Investar from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Piper Sandler lifted their price objective on Investar to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Investar in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.00.
Check Out Our Latest Analysis on ISTR
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of ISTR. Tower Research Capital LLC TRC grew its holdings in shares of Investar by 440.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock worth $56,000 after buying an additional 2,363 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of 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 purchasing an additional 666 shares during the period. Rhumbline Advisers increased its stake 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 purchasing an additional 1,182 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Investar by 93.7% in the 3rd 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 last quarter. Finally, Prudential Financial Inc. grew its holdings in Investar by 46.9% in the 2nd quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider’s stock valued at $347,000 after buying an additional 5,738 shares during the period. 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.
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