Wall Street analysts predict that Investar Holding Corp (NASDAQ:ISTR) will report $15.93 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Investar’s earnings, with the highest sales estimate coming in at $16.19 million and the lowest estimate coming in at $15.80 million. Investar posted sales of $13.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The business is expected to announce its next quarterly earnings results on Thursday, January 24th.
On average, analysts expect that Investar will report full-year sales of $61.92 million for the current fiscal year, with estimates ranging from $61.80 million to $62.10 million. For the next fiscal year, analysts expect that the firm will report sales of $72.04 million, with estimates ranging from $71.10 million to $72.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Investar.
Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). Investar had a net margin of 16.88% and a return on equity of 8.50%. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $15.65 million.
Several analysts have issued reports on the company. BidaskClub cut Investar from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Investar from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. ValuEngine cut Investar from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Piper Jaffray Companies set a $30.00 price objective on Investar and gave the company a “buy” rating in a research note on Sunday, July 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.20.
Shares of NASDAQ ISTR opened at $25.24 on Friday. Investar has a 52-week low of $22.53 and a 52-week high of $29.90. The company has a market cap of $240.05 million, a price-to-earnings ratio of 22.54 and a beta of 0.36. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.05 and a current ratio of 1.05.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 8th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Investar’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, October 4th. Investar’s dividend payout ratio is presently 16.07%.
In related news, Director Andrew C. Nelson purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 33,232 shares of the company’s stock, valued at $830,800. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 4,785 shares of company stock worth $119,888 over the last quarter. Insiders own 9.07% of the company’s stock.
Several institutional investors have recently made changes to their positions in ISTR. Northern Trust Corp raised its position in shares of Investar by 2.6% during the 1st quarter. Northern Trust Corp now owns 93,041 shares of the financial services provider’s stock worth $2,405,000 after purchasing an additional 2,355 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Investar by 86.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,767 shares of the financial services provider’s stock worth $1,312,000 after purchasing an additional 23,480 shares during the period. Rhumbline Advisers acquired a new stake in shares of Investar during the 2nd quarter worth approximately $225,000. Schwab Charles Investment Management Inc. raised its position in shares of Investar by 39.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,426 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 5,526 shares during the period. Finally, Royce & Associates LP acquired a new stake in shares of Investar during the 2nd quarter worth approximately $2,732,000. Institutional investors and hedge funds own 58.10% of the company’s stock.
Investar Company Profile
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, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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