ISTR Financial Services

Investar Holding Corporation

$27.93-1.27%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Financial Services
Industry: Banks - Regional
Country: United States
Market cap: 384.8M USD
Full-time employees: 421

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers

Ranks #499 of 791 banks & insurance companies (bottom 38%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 39% from December 2022 to August 2026.
Investar had 39% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Investar had 39% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay outran buybacks. Stock-based pay expense $6M vs $6M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Investar recorded $6M of stock-based pay expense and spent $6M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Investar recorded $6M of stock-based pay expense and spent $6M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

StockQuotient Score

46/ 100▼ 1 since Oct 27 close

Oct 5 46 → Nov 4 46

Valuation

Is the price right?

69/100

Moderate▼ 2 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 40.4% (existing holders diluted)

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 71 → 69

Share price +1.3%-1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ P/B

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield109.2%

SEC filings · latest balance sheetReported value40% base weight · Z-score 1.04Sector median: 0.7950 · MAD: 0.2843

Earnings yield8.7%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score 0.33Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield6.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

39/100

Weak

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth7.6%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score -0.47Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth-3.8%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth7.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

30/100

Weak

2/2 inputs reported · High confidence

Since last quarter: ▲ Stronger

Net margin rose 11.2 points to 35.9%

Why

Weaker than most peers on:

▼ ROE
▼ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets0.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.49Sector median: 0.0117 · MAD: 0.0062

Return on equity8.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.71Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Investar

Is Investar getting weaker?: Its latest SEC filing (Aug 6, 2026) was mixed: some things better, some worse: net margin rose 11.2 points to 35.9%; share count up 40.4%. Its overall score is 46/100, down 1 since Oct 28, 2026.
How is Investar valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 69/100 against 950 banks & insurance peers. Book yield 109.2% vs a peer median of 79.5% (stronger than 74% of peers).Book yield 109.2% vs peers 79.5% (stronger than 74% of peers).
Is Investar growing?: More slowly than most of its peers. Growth scores 39/100 against 950 banks & insurance peers. Earnings per share growth 7.6% vs a peer median of 16.0% (weaker than 61% of peers).Earnings per share growth 7.6% vs peers 16.0% (weaker than 61% of peers).
How profitable is Investar?: Less profitable than most of its peers. Profitability scores 30/100 against 950 banks & insurance peers. Return on equity 8.0% vs a peer median of 10.7% (weaker than 70% of peers).Return on equity 8.0% vs peers 10.7% (weaker than 70% of peers).
How risky is Investar?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Aug 6, 2026 · compared with the quarter ended Sep 30, 2025

Mixed: some things better, some worse

Net margin rose 11.2 points to 35.9%
Share count up 40.4% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	93.4M USD	93.6M USD	+0.2%
Net income (12 months)	23.1M USD	33.6M USD	+45.7%
Free cash flow (12 months)	13.3M USD	24.8M USD	+87.0%
Shares outstanding	9.8M	13.8M	+40.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Banks - Regional · 119 companies

Valuations in Banks - Regional are within their usual range since 2016.

45% of months since 2016 were valued lower than now.
14% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +29% and earnings +32% (medians): prices and earnings moved broadly together.
Median price-to-book is −61% vs the whole market, against a usual −59%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	11.0%	33.9%	20.1%	23.2%	24.5%	▲ 1.3 pts
Return on assets (ROA)	0.3%	1.3%	0.6%	0.7%	0.8%	▲ 0.1 pts
Return on equity (ROE)	3.3%	16.5%	7.4%	8.4%	7.6%	▼ 0.8 pts
Debt to equity	0.04×	0.05×	0.98×	0.04×	0.03×	▼ 20%

ISTR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Ranks #499 of 791 banks & insurance companies (bottom 38%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 39% from December 2022 to August 2026.

Investar had 39% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Investar had 39% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay outran buybacks. Stock-based pay expense $6M vs $6M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Investar recorded $6M of stock-based pay expense and spent $6M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Investar recorded $6M of stock-based pay expense and spent $6M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Questions investors ask about Investar

Is Investar getting weaker?

Its latest SEC filing (Aug 6, 2026) was mixed: some things better, some worse: net margin rose 11.2 points to 35.9%; share count up 40.4%. Its overall score is 46/100, down 1 since Oct 28, 2026.

How is Investar valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 69/100 against 950 banks & insurance peers. Book yield 109.2% vs a peer median of 79.5% (stronger than 74% of peers).Book yield 109.2% vs peers 79.5% (stronger than 74% of peers).

Is Investar growing?

More slowly than most of its peers. Growth scores 39/100 against 950 banks & insurance peers. Earnings per share growth 7.6% vs a peer median of 16.0% (weaker than 61% of peers).Earnings per share growth 7.6% vs peers 16.0% (weaker than 61% of peers).

How profitable is Investar?

Less profitable than most of its peers. Profitability scores 30/100 against 950 banks & insurance peers. Return on equity 8.0% vs a peer median of 10.7% (weaker than 70% of peers).Return on equity 8.0% vs peers 10.7% (weaker than 70% of peers).

How risky is Investar?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

93.4M USD

93.6M USD

+0.2%

Net income (12 months)

23.1M USD

33.6M USD

+45.7%

Free cash flow (12 months)

13.3M USD

24.8M USD

+87.0%

Shares outstanding

9.8M

13.8M

+40.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

11.0%

33.9%

20.1%

23.2%

24.5%

▲ 1.3 pts

Return on assets (ROA)

0.3%

1.3%

0.6%

0.7%

0.8%

▲ 0.1 pts

Return on equity (ROE)

3.3%

16.5%

7.4%

8.4%

7.6%

▼ 0.8 pts

Debt to equity

0.04×

0.05×

0.98×

0.04×

0.03×

▼ 20%