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

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

Investar Trading Down 2.0%

Shares of ISTR stock opened at $29.27 on Monday. The company has a market capitalization of $403.63 million, a P/E ratio of 12.71 and a beta of 0.45. Investar has a 12-month low of $20.99 and a 12-month high of $31.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.36.

Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Investar’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, June 30th. Investar’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

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

Institutional Trading of Investar

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in Investar by 440.9% in 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 during the period. Public Employees Retirement System of Ohio raised its position in shares of Investar by 69.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,100 shares during the period. 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 last quarter. Rhumbline Advisers boosted its stake in Investar by 12.8% during the 2nd 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 period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

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.