Wall Street brokerages expect Investar Holding Corp (NASDAQ:ISTR) to announce $15.65 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Investar’s earnings, with estimates ranging from $15.46 million to $15.90 million. Investar posted sales of $12.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.1%. The company is expected to issue its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Investar will report full-year sales of $62.08 million for the current financial year, with estimates ranging from $61.59 million to $62.55 million. For the next year, analysts expect that the company will report sales of $69.50 million, with estimates ranging from $67.80 million to $71.79 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Investar.
Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $15.51 million for the quarter, compared to the consensus estimate of $14.84 million. Investar had a net margin of 15.20% and a return on equity of 7.90%.
ISTR has been the topic of several research reports. BidaskClub raised shares of Investar from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. ValuEngine upgraded shares of Investar from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Investar from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Piper Jaffray Companies set a $30.00 price objective on shares of Investar and gave the stock a “buy” rating in a research report on Sunday, July 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Investar presently has a consensus rating of “Buy” and an average price target of $29.20.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Investar by 12.4% during the second quarter. BlackRock Inc. now owns 428,064 shares of the financial services provider’s stock worth $11,836,000 after purchasing an additional 47,276 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of Investar during the second quarter valued at about $2,732,000. Northern Trust Corp increased its position in shares of Investar by 5.9% during the second quarter. Northern Trust Corp now owns 98,551 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 5,510 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Investar by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 70,520 shares of the financial services provider’s stock valued at $1,950,000 after acquiring an additional 19,753 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Investar by 39.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,426 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 5,526 shares during the last quarter. Hedge funds and other institutional investors own 58.19% of the company’s stock.
Shares of NASDAQ:ISTR traded down $0.21 during midday trading on Tuesday, hitting $25.52. The company’s stock had a trading volume of 2,902 shares, compared to its average volume of 11,650. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.44. The company has a market cap of $241.20 million, a P/E ratio of 22.79 and a beta of 0.33. Investar has a 12-month low of $20.35 and a 12-month high of $29.90.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Monday, October 8th will be given a dividend of $0.045 per share. This is a boost from Investar’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, October 4th. Investar’s dividend payout ratio (DPR) is presently 16.07%.
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.
Featured Story: Cash Flow Analysis in Stock Selection
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Investar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investar and related companies with MarketBeat.com's FREE daily email newsletter.