Investar Holding Corp (NASDAQ:ISTR) Expected to Post Quarterly Sales of $18.23 Million

Equities analysts predict that Investar Holding Corp (NASDAQ:ISTR) will announce sales of $18.23 million for the current quarter, Zacks reports. Three analysts have issued estimates for Investar’s earnings, with estimates ranging from $18.11 million to $18.39 million. Investar reported sales of $15.60 million during the same quarter last year, which indicates a positive year over year growth rate of 16.9%. The company is scheduled to report its next earnings results on Thursday, October 24th.

On average, analysts expect that Investar will report full year sales of $71.21 million for the current financial year, with estimates ranging from $70.61 million to $71.51 million. For the next fiscal year, analysts anticipate that the firm will post sales of $80.45 million, with estimates ranging from $79.28 million to $82.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Investar.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $18.07 million during the quarter, compared to analysts’ expectations of $17.54 million. Investar had a net margin of 18.69% and a return on equity of 9.25%.

Several equities research analysts have weighed in on ISTR shares. Zacks Investment Research cut shares of Investar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. DA Davidson reissued a “buy” rating on shares of Investar in a research report on Monday, July 22nd. Raymond James raised shares of Investar from a “market perform” rating to an “outperform” rating in a research report on Monday, July 8th. Finally, ValuEngine raised shares of Investar from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $27.50.

In related news, EVP Ryan P. Finnan sold 1,500 shares of Investar stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $23.37, for a total transaction of $35,055.00. Following the completion of the transaction, the executive vice president now directly owns 16,769 shares of the company’s stock, valued at approximately $391,891.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John J. D’angelo sold 4,671 shares of Investar stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $23.50, for a total transaction of $109,768.50. Following the transaction, the chief executive officer now directly owns 158,563 shares of the company’s stock, valued at $3,726,230.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,857 shares of company stock valued at $160,602. Corporate insiders own 9.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Maltese Capital Management LLC lifted its position in Investar by 61.2% during the 2nd quarter. Maltese Capital Management LLC now owns 354,548 shares of the financial services provider’s stock valued at $8,456,000 after acquiring an additional 134,548 shares during the period. Royal Bank of Canada lifted its position in 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 valued at $93,000 after acquiring an additional 3,897 shares during the period. BlackRock Inc. lifted its position in Investar by 8.3% during the 2nd quarter. BlackRock Inc. now owns 461,976 shares of the financial services provider’s stock valued at $11,019,000 after acquiring an additional 35,539 shares during the period. Northern Trust Corp lifted its position in Investar by 2.3% during the 2nd quarter. Northern Trust Corp now owns 104,890 shares of the financial services provider’s stock valued at $2,501,000 after acquiring an additional 2,321 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Investar by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 36,875 shares of the financial services provider’s stock valued at $879,000 after acquiring an additional 3,475 shares during the period. 53.61% of the stock is owned by institutional investors.

Shares of ISTR opened at $23.84 on Friday. The stock has a market capitalization of $237.77 million, a P/E ratio of 14.54 and a beta of 0.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $23.56 and a two-hundred day simple moving average of $23.44. Investar has a twelve month low of $19.49 and a twelve month high of $26.49.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. This is a boost from Investar’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, October 4th. Investar’s dividend payout ratio (DPR) is currently 14.63%.

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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Earnings History and Estimates for Investar (NASDAQ:ISTR)

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