Investar (NASDAQ:ISTR) Announces Earnings Results

Investar (NASDAQ:ISTR - Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.35 by $0.29, Zacks reports. The firm had revenue of $20.25 million during the quarter, compared to analyst estimates of $19.90 million. Investar had a net margin of 12.81% and a return on equity of 8.00%.

Investar Stock Down 1.3 %

Shares of ISTR traded down $0.24 during mid-day trading on Friday, reaching $18.24. The company had a trading volume of 23,210 shares, compared to its average volume of 44,638. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The company has a market capitalization of $179.14 million, a price-to-earnings ratio of 8.94 and a beta of 0.52. The firm has a 50-day moving average price of $17.42 and a 200 day moving average price of $19.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95.

Investar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.105 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.42 annualized dividend and a yield of 2.30%. Investar's payout ratio is 20.59%.

Analysts Set New Price Targets

A number of brokerages recently commented on ISTR. Piper Sandler upgraded shares of Investar from a "neutral" rating to an "overweight" rating and upped their price target for the company from $21.00 to $22.00 in a research note on Tuesday. StockNews.com raised Investar from a "hold" rating to a "buy" rating in a research note on Tuesday.

Investar Company Profile

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. The company offers various deposit products and services, such as savings, checking, money market, and individual retirement accounts, as well as various certificates of deposit; debit and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.