Investar Holding Co. (NASDAQ:ISTR – Get Rating) announced a quarterly dividend on Wednesday, March 16th, Zacks reports. Shareholders of record on Thursday, March 31st will be given a dividend of 0.085 per share by the financial services provider on Friday, April 29th. This represents a $0.34 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, March 30th. This is a boost from Investar’s previous quarterly dividend of $0.08.
Investar has increased its dividend payment by 15.4% over the last three years and has increased its dividend annually for the last 6 consecutive years. Investar has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Investar to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 12.9%.
NASDAQ ISTR opened at $19.53 on Friday. Investar has a 1 year low of $17.08 and a 1 year high of $23.69. The company has a market capitalization of $201.35 million, a price-to-earnings ratio of 25.70 and a beta of 0.59. The stock’s fifty day moving average price is $19.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.91 and a quick ratio of 0.91.
Investar (NASDAQ:ISTR – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The financial services provider reported $0.56 EPS for the quarter. Investar had a net margin of 7.44% and a return on equity of 2.27%. The firm had revenue of $23.15 million for the quarter. As a group, sell-side analysts expect that Investar will post 2.25 EPS for the current fiscal year.
Several equities analysts recently commented on ISTR shares. StockNews.com started coverage on shares of Investar in a research note on Friday. They issued a “hold” rating on the stock. Zacks Investment Research cut shares of Investar from a “buy” rating to a “hold” rating in a report on Wednesday, February 2nd. Finally, TheStreet raised shares of Investar from a “c” rating to a “b” rating in a report on Thursday, March 3rd.
In other news, insider Jeffrey Wayne Martin acquired 1,714 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The stock was purchased at an average price of $20.41 per share, for a total transaction of $34,982.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 2,314 shares of company stock valued at $46,759. Company insiders own 9.75% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its holdings in Investar by 42.6% in the 2nd quarter. Morgan Stanley now owns 18,674 shares of the financial services provider’s stock worth $428,000 after buying an additional 5,576 shares during the period. Citadel Advisors LLC bought a new position in Investar in the 2nd quarter worth approximately $361,000. LPL Financial LLC bought a new position in Investar in the 4th quarter worth approximately $1,096,000. Alliancebernstein L.P. boosted its holdings in Investar by 46.2% in the 4th quarter. Alliancebernstein L.P. now owns 104,895 shares of the financial services provider’s stock worth $1,931,000 after buying an additional 33,123 shares during the period. Finally, Susquehanna International Group LLP boosted its holdings in Investar by 54.7% in the 4th quarter. Susquehanna International Group LLP now owns 23,136 shares of the financial services provider’s stock worth $426,000 after buying an additional 8,182 shares during the period. Institutional investors own 55.62% of the company’s stock.
Investar Company Profile (Get Rating)
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.
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