Investar Holding Corp (NASDAQ:ISTR) declared a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Investors of record on Monday, July 8th will be given a dividend of 0.055 per share by the financial services provider on Wednesday, July 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Investar’s previous quarterly dividend of $0.05.
Investar has increased its dividend by an average of 70.8% annually over the last three years and has raised its dividend every year for the last 3 years. Investar has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Investar to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 10.2%.
NASDAQ:ISTR traded down $0.36 on Friday, hitting $23.30. The stock had a trading volume of 9,590 shares, compared to its average volume of 15,838. The stock has a fifty day moving average price of $23.60. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.01 and a current ratio of 1.01. Investar has a 1-year low of $19.49 and a 1-year high of $28.40. The firm has a market capitalization of $237.35 million, a PE ratio of 14.21 and a beta of 0.15.
In other news, CFO Christopher L. Hufft sold 1,250 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $23.55, for a total value of $29,437.50. Following the completion of the transaction, the chief financial officer now owns 26,006 shares in the company, valued at approximately $612,441.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.64% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on ISTR shares. Zacks Investment Research downgraded shares of Green Plains from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 27th. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. DA Davidson assumed coverage on shares of Business First Bancshares in a report on Wednesday, July 10th. They issued a “neutral” rating and a $28.00 target price for the company. ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Finally, FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.75.
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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