Brokerages predict that Investar Holding Corp (NASDAQ:ISTR) will post $18.27 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Investar’s earnings. The lowest sales estimate is $18.11 million and the highest is $18.39 million. Investar posted sales of $15.60 million during the same quarter last year, which suggests a positive year over year growth rate of 17.1%. The company is expected to announce its next earnings report on Thursday, October 24th.
On average, analysts expect that Investar will report full year sales of $71.39 million for the current year, with estimates ranging from $71.05 million to $71.60 million. For the next financial year, analysts forecast that the firm will report sales of $79.00 million, with estimates ranging from $75.13 million to $82.40 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Investar.
Investar (NASDAQ:ISTR) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Investar had a net margin of 18.69% and a return on equity of 9.25%. The business had revenue of $18.07 million for the quarter, compared to analyst estimates of $17.54 million.
Shares of ISTR stock traded up $0.51 during trading hours on Monday, reaching $23.25. 18,600 shares of the stock traded hands, compared to its average volume of 9,770. Investar has a 1-year low of $19.49 and a 1-year high of $28.40. The business has a fifty day moving average price of $23.66 and a 200 day moving average price of $23.51. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $229.22 million, a PE ratio of 14.18 and a beta of 0.15.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, July 5th. This is a positive change from Investar’s previous quarterly dividend of $0.05. Investar’s dividend payout ratio is currently 13.41%.
In other Investar news, CFO Christopher L. Hufft sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $23.55, for a total value of $29,437.50. Following the transaction, the chief financial officer now owns 26,006 shares in the company, valued at approximately $612,441.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.64% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its position in Investar by 1,138.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,883 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,731 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Investar during the 4th quarter worth $82,000. Royal Bank of Canada boosted its holdings in shares of Investar by 129,900.0% during the 2nd quarter. Royal Bank of Canada now owns 3,900 shares of the financial services provider’s stock worth $93,000 after buying an additional 3,897 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Investar during the 4th quarter worth $112,000. Finally, Bank of America Corp DE boosted its holdings in shares of Investar by 82.5% during the 4th quarter. Bank of America Corp DE now owns 5,759 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,603 shares during the period. Hedge funds and other institutional investors own 52.71% 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, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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