Investar Holding Co. (ISTR) To Go Ex-Dividend on September 29th

Investar Holding Co. (NASDAQ:ISTRGet Rating) announced a quarterly dividend on Wednesday, September 21st, investing.com reports. Stockholders of record on Friday, September 30th will be given a dividend of 0.095 per share by the financial services provider on Monday, October 31st. This represents a $0.38 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 29th.

Investar has increased its dividend by an average of 22.2% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Investar has a dividend payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Investar to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 13.6%.

Investar Stock Performance

Shares of Investar stock traded down $0.31 during trading hours on Friday, hitting $20.32. 4,575 shares of the company were exchanged, compared to its average volume of 11,482. Investar has a 1 year low of $17.08 and a 1 year high of $23.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average of $21.95 and a 200-day moving average of $20.96. The stock has a market capitalization of $203.61 million, a price-to-earnings ratio of 12.62 and a beta of 0.46.

Investar (NASDAQ:ISTRGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The business had revenue of $28.36 million during the quarter, compared to analysts’ expectations of $23.92 million. Investar had a return on equity of 3.54% and a net margin of 14.40%. As a group, analysts expect that Investar will post 2.62 EPS for the current fiscal year.

Institutional Trading of Investar

Several large investors have recently bought and sold shares of ISTR. Fourthstone LLC grew its holdings in Investar by 19.9% in the first quarter. Fourthstone LLC now owns 967,273 shares of the financial services provider’s stock valued at $18,465,000 after purchasing an additional 160,309 shares during the last quarter. Wellington Management Group LLP grew its holdings in Investar by 19.2% in the first quarter. Wellington Management Group LLP now owns 189,308 shares of the financial services provider’s stock valued at $3,614,000 after purchasing an additional 30,477 shares during the last quarter. Millennium Management LLC grew its holdings in Investar by 11.2% in the second quarter. Millennium Management LLC now owns 66,346 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 6,696 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Investar by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 217,288 shares of the financial services provider’s stock valued at $4,148,000 after purchasing an additional 2,301 shares during the last quarter. Finally, State Street Corp grew its holdings in Investar by 6.2% in the first quarter. State Street Corp now owns 28,224 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 1,656 shares during the last quarter. Institutional investors and hedge funds own 58.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ISTR. StockNews.com upgraded Investar from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 15th. Piper Sandler increased their price objective on Investar to $22.00 in a research report on Monday, July 4th.

About Investar

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Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to 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.

See Also

Dividend History for Investar (NASDAQ:ISTR)

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