Investar Holding Stock Price, News & Analysis

Investar Holding Corporation (Nasdaq: ISTR) has declared a quarterly cash dividend of $0.08 per share, marking a 14% increase from the previous quarter. This dividend will be payable on July 31, 2021 to shareholders of record as of June 30, 2021. This represents the 31st quarterly dividend paid by the company, following an uninterrupted series of 11 quarterly dividends from Investar Bank. At March 31, 2021, Investar Bank had total assets of $2.4 billion.

Investar Holding Corporation (Nasdaq: ISTR) has authorized the repurchase of an additional 200,000 shares of its common stock, complementing the 315,240 shares previously available for repurchase. This initiative represents approximately 2% of the company's outstanding shares and is set to conclude by July 31, 2021. Share repurchases will be executed in open market transactions and may be suspended or terminated at the company's discretion. The repurchase program aims to enhance shareholder value and provide flexibility in capital usage.

Investar Holding Corporation (NASDAQ:ISTR) reported record net income of $5.4 million, or $0.51 per diluted share, in Q1 2021, up from $4.5 million in Q4 2020 and $0.6 million in Q1 2020. Core earnings per diluted share reached $0.49, with a net interest margin of 3.64%. Noninterest-bearing deposits surged by 15% to $515.5 million. The acquisition of Cheaha Bank closed on April 1, 2021. Book value per share increased to $23.79, while tangible book value per share rose 4% to $20.72. The allowance for loan losses increased to 1.11% of total loans.

Investar Holding Corporation (Nasdaq: ISTR) has successfully completed the acquisition of Cheaha Financial Group, Inc., the parent company of Cheaha Bank, effective April 1, 2021. Investar paid $80.00 per share, totaling approximately $41.1 million. This acquisition allows Investar to expand its presence in northeast Alabama, aligning with its strategic goals to enhance customer service and community engagement. Post-acquisition, the combined assets of Investar and Cheaha will reach approximately $2.6 billion, bolstering Investar’s footprint in the banking sector.

Investar Holding Corporation (Nasdaq: ISTR) announced a quarterly cash dividend of $0.07 per share, reflecting an 8% increase from the previous quarter. This dividend will be payable on April 30, 2021, to shareholders of record as of March 29, 2021. Additionally, the Board approved a repurchase of 300,000 shares, totaling approximately 3% of outstanding stock, in a stock buyback program. The company had previously repurchased 661,504 shares in 2020 and 213,395 shares in Q1 2021 at average prices of $16.75 and $17.48, respectively.

Investar Holding Corporation (Nasdaq:ISTR) has announced the receipt of necessary shareholder and regulatory approvals for the acquisition of Cheaha Financial Group, Inc., the parent company of Cheaha Bank in Alabama. The agreement, dated January 21, 2021, entails a cash payment of $80 per share for Cheaha's shareholders. With Cheaha Bank holding approximately $236 million in assets and $202 million in deposits as of December 31, 2020, the acquisition is expected to enhance Investar's market footprint. Completion is anticipated around April 1, 2021, pending customary closing conditions.

Investar Holding Corporation (NASDAQ:ISTR) announced a definitive agreement to acquire Cheaha Financial Group, Inc. for $41.1 million, at $80.00 per share. Cheaha Bank, with assets of $236 million, will enhance Investar’s growth strategy in Alabama. Despite a previous agreement termination in 2019 due to pandemic-related uncertainties, both banks are positioned for a successful merger, expected to close in Q2 2021. For Q4 2020, Investar posted a net income of $4.5 million, representing a strong financial position with a loan growth of 10.8% excluding PPP loans.

Investar Holding Corporation (NASDAQ: ISTR) declared a quarterly cash dividend of $0.065 per share, payable on January 31, 2021, to shareholders of record as of December 28, 2020. This marks the 29th quarterly dividend paid by the Company, following an uninterrupted series of 11 quarterly dividends from Investar Bank. As of September 30, 2020, Investar had total assets of approximately $2.3 billion and operates multiple branches across Louisiana, Texas, and Alabama.

Investar Holding Corporation (NASDAQ: ISTR) reported a net income of $4.5 million, or $0.41 per diluted share, for Q3 2020, a slight increase from $4.3 million in Q2 2020 but a decrease from $4.7 million in Q3 2019. Total revenues decreased by 3.4% quarter-over-quarter to $26.8 million yet rose 9.5% year-over-year. Total loans increased to $1.83 billion, a 0.9% rise from Q2 2020 and a 15.3% increase from Q3 2019. The allowance for loan losses rose to 1.04% of total loans. The bank continues to manage its expenses while anticipating future stability through strategic initiatives.