Investar Holding Co. (NASDAQ:ISTR) Plans $0.10 Quarterly Dividend

Investar Holding Co. (NASDAQ:ISTR – Get Rating) announced a quarterly dividend on Wednesday, March 15th, Zacks reports. Stockholders of record on Friday, March 31st will be given a dividend of 0.095 per share by the financial services provider on Friday, April 28th. This represents a $0.38 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 30th.

Investar has increased its dividend by an average of 17.1% annually over the last three years and has increased its dividend every year for the last 8 years. Investar has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Investar to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 16.8%.

Investar Price Performance

ISTR stock opened at $15.75 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $156.08 million, a P/E ratio of 4.53 and a beta of 0.47. Investar has a 1 year low of $15.67 and a 1 year high of $23.72. The stock’s 50 day moving average price is $20.13 and its 200 day moving average price is $20.87.

Investar (NASDAQ:ISTR – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $25.96 million for the quarter, compared to analyst estimates of $25.88 million. Investar had a return on equity of 12.25% and a net margin of 29.05%. On average, sell-side analysts expect that Investar will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Investar in a report on Thursday. They set a “hold” rating on the stock.

Insider Activity at Investar

In other news, Director Andrew C. Nelson acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average price of $15.77 per share, with a total value of $47,310.00. Following the purchase, the director now owns 133,360 shares of the company’s stock, valued at approximately $2,103,087.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Andrew C. Nelson acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $15.77 per share, for a total transaction of $47,310.00. Following the completion of the acquisition, the director now owns 133,360 shares in the company, valued at $2,103,087.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Chris Jordan sold 2,477 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $20.46, for a total value of $50,679.42. Following the sale, the director now directly owns 47,047 shares of the company’s stock, valued at $962,581.62. The disclosure for this sale can be found here. Insiders acquired a total of 3,942 shares of company stock valued at $62,743 over the last ninety days. Insiders own 10.27% of the company’s stock.

Institutional Investors Weigh In On Investar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG acquired a new position in Investar during the 3rd quarter worth $31,000. Citigroup Inc. acquired a new position in shares of Investar during the 4th quarter worth about $118,000. Man Group plc bought a new stake in Investar during the 4th quarter valued at approximately $211,000. Bank of New York Mellon Corp increased its position in Investar by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 12,901 shares of the financial services provider’s stock worth $246,000 after buying an additional 526 shares during the period. Finally, Barclays PLC boosted its position in shares of Investar by 23.3% in the fourth quarter. Barclays PLC now owns 13,870 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 2,618 shares during the period. 58.66% of the stock is currently owned by institutional investors and hedge funds.

About Investar

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Investar Holding Corp. is a financial holding company, which engages in the provision of full banking services. It offers a full range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses as well as loans to individuals. Its lending products consists of owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while its loans to individuals include first and second mortgage loans, installment loans, and lines of credit.