Analysts expect Investor Holding Co. (NASDAQ:ISTR) to report sales of $23.56 million for the current quarter, according to Zacks. Two analysts provided estimates for Investar’s earnings, with estimates ranging from $23.30 million to $23.81 million. Investar reported sales of $22.83 million in the same quarter last year, indicating a positive year-over-year growth rate of 3.2%. The company is due to release its next quarterly earnings report on Monday, January 24.
According to Zacks, analysts expect Investar to report annual sales of $96.31 million for the current fiscal year, with estimates ranging from $96.10 million to $96.52 million. For the next fiscal year, analysts expect the company to record sales of $94.80 million, with estimates ranging from $92.30 to $97.30 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that track Investar.
Investar Inc (NASDAQ:ISTR) last released its results on Wednesday, October 20. The financial services provider reported ($1.06) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of ($1.05) by ($0.01). Investar posted a net margin of 5.15% and a return on equity of 1.57%. The company posted revenue of $25.46 million for the quarter, versus $24.56 million expected by analysts.
Several research companies have recently published reports on ISTR. Piper Sandler downgraded shares of Investar from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $20.00 in a Friday, October 15 report. TheStreet downgraded shares of Investar from a “b” rating to a “c” rating in a Friday, October 22 report. Finally, Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a target price of $21.00 on the stock in a research note on Tuesday.
ISTR Action opened at $18.89 on Wednesday. The company’s 50-day simple moving average is $18.12. Investar has a 52-week low of $15.66 and a 52-week high of $23.69. The stock has a market capitalization of $195.38 million, a price-earnings ratio of 37.08 and a beta of 0.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt ratio of 0.51.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 31. Investors of record on Friday, December 31 will receive a dividend of $0.08. The ex-date of this dividend is Thursday, December 30. This represents an annualized dividend of $0.32 and a yield of 1.69%. Investar’s payout ratio is 62.75%.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Fourthstone LLC increased its stake in Investar by 13.5% in the third quarter. Fourthstone LLC now owns 703,888 shares of the financial services provider worth $15,494,000 after purchasing an additional 83,904 shares last quarter. M3F inc. increased its stake in Investar by 35.4% in the third quarter. M3F Inc. now owns 330,556 shares of the financial services provider worth $7,279,000 after purchasing an additional 86,421 shares last quarter. Kennedy Capital Management Inc. increased its stake in Investar by 269.7% in the 2nd quarter. Kennedy Capital Management Inc. now owns 250,437 shares of the financial services provider worth $5,733,000 after purchasing an additional 182,701 shares last quarter. Wellington Management Group LLP increased its stake in Investar by 50.2% in the third quarter. Wellington Management Group LLP now owns 218,158 shares of the financial services provider worth $4,804,000 after buying an additional 72,926 shares last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Investar by 12.5% in the third quarter. Dimensional Fund Advisors LP now owns 215,296 shares of the financial services provider worth $4,741,000 after buying an additional 23,930 shares in the last quarter. Institutional investors hold 55.33% of the company’s shares.
Investar Company Profile
Investar Holding Corp. is a financial holding company that provides comprehensive banking services. It offers a full suite of commercial and retail lending products across all of its market sectors, including small and medium business loans as well as personal loans. Its lending products consist 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 individuals include first and second mortgages, installment loans and lines of credit.
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