Investar Holding Stock Price, News & Analysis

Investar Holding Corporation (NASDAQ: ISTR) announced its financial results for Q1 2023, reporting a net income of $3.8 million or $0.38 per diluted share, a decline from $8.9 million or $0.88 per share in Q4 2022, and $10.1 million or $0.97 per share in Q1 2022. Core earnings per diluted share decreased to $0.51 from $0.62 in Q4 2022 and $0.68 in Q1 2022. Nonperforming loans improved to 0.27% of total loans, while total deposits rose to $2.15 billion, a 3.0% increase. The cost of deposits increased to 1.62%. Despite tightening conditions, the company repurchased 45,975 shares and maintained a stable dividend. However, net interest income dropped 10.4% from Q4 2022.

Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.095 per share, payable on April 28, 2023, to shareholders of record as of March 31, 2023. This marks the 38th quarterly dividend paid by the Company and follows an uninterrupted series of 11 cash dividends from its banking subsidiary, Investar Bank. The Bank operates 29 branches across Louisiana, Texas, and Alabama, with total assets of $2.8 billion as of December 31, 2022. The dividend payment reflects the Company’s commitment to returning value to its shareholders.

Investar Holding Corporation (NASDAQ:ISTR) reported a net income of $8.9 million or $0.88 per diluted share for Q4 2022, an increase from $7.3 million or $0.73 in Q3 2022 and $6.9 million or $0.67 in Q4 2021. Core earnings per diluted share were $0.62, down from $0.71 in Q3 2022. Total loans reached a record $2.1 billion, marking a 4.9% increase from the previous quarter. Credit quality improved, with nonperforming loans at 0.51% of total loans. However, net interest income decreased 4.0% to $22.5 million, and net interest margin fell to 3.50%. Total deposits grew 1.4% to $2.08 billion.

Investar Holding Corporation (NASDAQ:ISTR) has declared a quarterly cash dividend of $0.095 per share, payable on January 31, 2023, to shareholders on record by January 2, 2023. This marks the 37th quarterly dividend issued by the Company, continuing a streak of 11 consecutive quarterly dividends from its banking subsidiary, Investar Bank. As of September 30, 2022, Investar Bank had total assets of $2.7 billion and employed 352 full-time equivalents.

Investar Holding Corporation (NASDAQ:ISTR) reported a net income of $7.3 million ($0.73 per diluted share) for Q3 2022, down from $9.4 million ($0.92 per share) in Q2 2022 and a loss of $10 million in Q3 2021. Core earnings per share improved to $0.71. Total loans grew to $2.01 billion, reflecting a 4.7% increase quarter-over-quarter, while net interest income rose by 6.8% to $23.5 million. Nonperforming loans decreased to 0.65% of total loans. The board authorized an additional 300,000 shares for repurchase, reflecting a focus on long-term shareholder value.

Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.095 per share, marking a 6% increase from the previous quarter. This dividend will be paid on October 31, 2022 to shareholders of record as of September 30, 2022. Additionally, the Board of Directors approved the repurchase of 300,000 shares under its stock repurchase program, enhancing shareholder value. To date, Investar has repurchased 2,280,082 shares at an average price of $19.32 since the program's inception in 2015.

Investar Holding Corporation (NASDAQ:ISTR) reported net income of $9.4 million ($0.92 per diluted share) for Q2 2022, down from $10.1 million ($0.97 per diluted share) in Q1 2022. Core earnings were $0.62 per diluted share, compared to $0.68 in the previous quarter. Total loans increased by $39 million (2.1%) to $1.92 billion, with a significant improvement in credit quality as nonperforming loans fell to 0.89%. Despite a decrease in total deposits by 5.6%, efficiency ratios improved, indicating effective cost management.

Investar Holding Corporation (NASDAQ:ISTR) announced the sale of two banking locations in Alice and Victoria, Texas, to First Community Bank. The deal includes approximately $23 million in loans and $27 million in deposits. This strategic move allows Investar to concentrate on its core markets, as these branches are the farthest from its Louisiana headquarters. The transaction is subject to regulatory approval and is expected to close in Q1 2023. Investar currently operates 31 branches across Louisiana, Texas, and Alabama, with total assets of $2.6 billion.