FY2023 EPS Estimates for Investar Holding Co. Lowered by DA Davidson (NASDAQ:ISTR)

Investar Holding Co. (NASDAQ:ISTR – Get Rating) – Equities researchers at DA Davidson decreased their FY2023 earnings per share (EPS) estimates for shares of Investar in a research note issued to investors on Thursday, March 9th. DA Davidson analyst K. Fitzsimmons now anticipates that the financial services provider will earn $2.03 per share for the year, down from their prior forecast of $2.86. The consensus estimate for Investar’s current full-year earnings is $2.22 per share.

Investar (NASDAQ:ISTR – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $25.96 million for the quarter, compared to analyst estimates of $25.88 million. Investar had a return on equity of 12.25% and a net margin of 29.05%.

Separately, StockNews.com cut Investar from a “buy” rating to a “hold” rating in a report on Friday, February 3rd.

Investar Stock Performance

ISTR opened at $18.29 on Monday. The business’s 50-day moving average price is $20.57 and its two-hundred day moving average price is $21.02. Investar has a 1 year low of $18.19 and a 1 year high of $23.72. The company has a market capitalization of $181.29 million, a price-to-earnings ratio of 5.23 and a beta of 0.47. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.01 and a quick ratio of 0.98.

Hedge Funds Weigh In On Investar

A number of institutional investors and hedge funds have recently made changes to their positions in ISTR. UBS Group AG acquired a new stake in shares of Investar in the 3rd quarter worth about $31,000. LSV Asset Management purchased a new stake in Investar in the 4th quarter valued at about $73,000. Citigroup Inc. purchased a new stake in Investar in the 4th quarter valued at about $118,000. Concourse Financial Group Securities Inc. purchased a new stake in Investar in the 2nd quarter valued at about $131,000. Finally, Man Group plc purchased a new stake in Investar in the 4th quarter valued at about $211,000. Institutional investors own 58.66% of the company’s stock.

Insider Transactions at Investar

In other news, Director Robert Chris Jordan sold 2,477 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $20.46, for a total transaction of $50,679.42. Following the transaction, the director now owns 47,047 shares of the company’s stock, valued at approximately $962,581.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.27% of the company’s stock.

Investar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Monday, January 2nd were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.08%. Investar’s dividend payout ratio (DPR) is presently 10.86%.

Investar Company Profile

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Investar Holding Corp. is a financial holding company, which engages in the provision of full banking services. It offers a full range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses as well as loans to individuals. Its lending products consists of owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while its loans to individuals include first and second mortgage loans, installment loans, and lines of credit.