Equities research analysts predict that Investar Holding Corp (NASDAQ:ISTR) will announce $18.23 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Investar’s earnings, with the highest sales estimate coming in at $18.39 million and the lowest estimate coming in at $18.11 million. Investar posted sales of $15.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.9%. The business is scheduled to report its next quarterly earnings report on Thursday, October 24th.
On average, analysts expect that Investar will report full-year sales of $71.21 million for the current financial year, with estimates ranging from $70.61 million to $71.51 million. For the next year, analysts forecast that the business will post sales of $80.45 million, with estimates ranging from $79.28 million to $82.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Investar.
Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $18.07 million during the quarter, compared to analysts’ expectations of $17.54 million. Investar had a net margin of 18.69% and a return on equity of 9.25%.
NASDAQ:ISTR remained flat at $$24.00 during mid-day trading on Friday. 3,715 shares of the company traded hands, compared to its average volume of 10,168. The firm’s fifty day simple moving average is $23.61 and its 200-day simple moving average is $23.46. The company has a market capitalization of $236.98 million, a P/E ratio of 14.63 and a beta of 0.16. Investar has a 52-week low of $19.49 and a 52-week high of $26.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.05.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Investar’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, October 4th. Investar’s dividend payout ratio (DPR) is 14.63%.
In other Investar news, EVP Ryan P. Finnan sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $23.37, for a total value of $35,055.00. Following the completion of the sale, the executive vice president now owns 16,769 shares of the company’s stock, valued at $391,891.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John J. D’angelo sold 4,671 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $23.50, for a total value of $109,768.50. Following the completion of the sale, the chief executive officer now directly owns 158,563 shares of the company’s stock, valued at approximately $3,726,230.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,857 shares of company stock worth $160,602. 9.64% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ISTR. Hubbell Strickland Wealth Management LLC acquired a new position in shares of Investar during the 3rd quarter worth $407,000. Maltese Capital Management LLC raised its stake in shares of Investar by 61.2% during the 2nd quarter. Maltese Capital Management LLC now owns 354,548 shares of the financial services provider’s stock worth $8,456,000 after buying an additional 134,548 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Investar by 129,900.0% during the 2nd quarter. Royal Bank of Canada now owns 3,900 shares of the financial services provider’s stock worth $93,000 after buying an additional 3,897 shares during the last quarter. BlackRock Inc. raised its stake in shares of Investar by 8.3% during the 2nd quarter. BlackRock Inc. now owns 461,976 shares of the financial services provider’s stock worth $11,019,000 after buying an additional 35,539 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Investar by 2.3% during the 2nd quarter. Northern Trust Corp now owns 104,890 shares of the financial services provider’s stock worth $2,501,000 after buying an additional 2,321 shares during the last quarter. 53.61% of the stock is owned by institutional investors.
Investar Company Profile
Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. 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 cards; and mobile banking services.
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