Investar Holding Co. (NASDAQ:ISTR) Plans Quarterly Dividend of $0.10

Investar Holding Co. (NASDAQ:ISTR) announced a quarterly dividend on Wednesday, June 19th, Zacks reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.10 per share by the financial services provider on Wednesday, July 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, July 1st.

Investar has increased its dividend by an average of 16.5% annually over the last three years. Investar has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Investar to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 20.8%.

Investar Stock Down 0.6 %

ISTR stock opened at $15.40 on Friday. Investar has a 1-year low of $9.07 and a 1-year high of $17.99. The stock has a market cap of $151.38 million, a price-to-earnings ratio of 8.60 and a beta of 0.77. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The company’s 50 day moving average is $15.78 and its 200 day moving average is $15.99.

Investar (NASDAQ:ISTR) last issued its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. Investar had a net margin of 12.02% and a return on equity of 8.17%. The firm had revenue of $19.96 million for the quarter, compared to analyst estimates of $18.78 million. Sell-side analysts predict that Investar will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

ISTR has been the subject of several research analyst reports. StockNews.com raised Investar from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th. Hovde Group cut their target price on Investar from $20.50 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd.

Investar Company Profile

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. 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 and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.