Investar Holding Corp (NASDAQ:ISTR) to Issue Quarterly Dividend of $0.06

Investar Holding Corp (NASDAQ:ISTR) announced a quarterly dividend on Wednesday, June 24th, Fidelity reports. Investors of record on Monday, July 6th will be given a dividend of 0.06 per share by the financial services provider on Friday, July 31st. This represents a $0.24 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, July 2nd.

Investar has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Investar to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 21.8%.

NASDAQ:ISTR opened at $14.46 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $158.17 million, a P/E ratio of 11.04 and a beta of 0.66. The firm has a 50-day moving average price of $13.28 and a two-hundred day moving average price of $17.52. Investar has a twelve month low of $8.49 and a twelve month high of $26.46.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.25). Investar had a net margin of 13.75% and a return on equity of 6.97%. The business had revenue of $18.42 million during the quarter, compared to analyst estimates of $19.09 million. On average, equities research analysts predict that Investar will post 1 earnings per share for the current year.

ISTR has been the subject of several recent research reports. Raymond James downgraded Investar from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 17th. ValuEngine lowered Investar from a “hold” rating to a “sell” rating in a research note on Tuesday, March 24th. Finally, Zacks Investment Research raised shares of Investar from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.

In other Investar news, Director Andrew C. Nelson acquired 9,054 shares of the stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $14.69 per share, with a total value of $133,003.26. Following the completion of the transaction, the director now directly owns 121,470 shares in the company, valued at $1,784,394.30. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.75% of the stock is currently owned by insiders.

About Investar

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.

Further Reading: Gross Domestic Product (GDP)

Dividend History for Investar (NASDAQ:ISTR)

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