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

by · The Markets Daily

Investar (NASDAQ:ISTRGet Free Report) announced 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 return on equity of 9.38% and a net margin of 14.87%.The company had revenue of $23.93 million for the quarter.

Investar Stock Up 1.1%

Shares of ISTR traded up $0.31 during midday trading on Thursday, hitting $28.25. The company had a trading volume of 56,843 shares, compared to its average volume of 54,353. Investar has a 1 year low of $15.39 and a 1 year 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 company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50-day simple moving average is $26.20 and its 200-day simple moving average is $23.96.

Investar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.44 dividend on an annualized basis and a yield of 1.6%. Investar’s dividend payout ratio (DPR) is currently 19.64%.

Wall Street Analyst Weigh In

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

Get Our Latest Report on Investar

Institutional Trading of Investar

Several hedge funds have recently added to or reduced their stakes in ISTR. Qube Research & Technologies Ltd grew its holdings in Investar by 19.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 35,518 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 5,740 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Investar by 39.2% in the 3rd quarter. Bank of America Corp DE now owns 21,632 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 6,091 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Investar by 4.1% during the 3rd quarter. Alliancebernstein L.P. now owns 431,281 shares of the financial services provider’s stock worth $10,010,000 after purchasing an additional 17,015 shares during the last quarter. Mendon Capital Advisors Corp purchased a new stake in shares of Investar during the 3rd quarter worth $887,000. Finally, Two Sigma Investments LP grew its stake in shares of Investar by 20.1% during the third quarter. Two Sigma Investments LP now owns 43,168 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 7,220 shares in the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

About Investar

(Get Free Report)

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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