Banc Funds Co. LLC cut its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 522,117 shares of the financial services provider's stock after selling 61,808 shares during the quarter. Banc Funds Co. LLC owned about 5.31% of Investar worth $11,466,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ISTR. New York State Common Retirement Fund increased its holdings in shares of Investar by 100.0% in the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 1,100 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Investar by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 2,688 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Investar in the fourth quarter worth $211,000. JPMorgan Chase & Co. raised its holdings in shares of Investar by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider's stock worth $318,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Investar by 25.0% in the third quarter. Barclays PLC now owns 26,122 shares of the financial services provider's stock valued at $507,000 after purchasing an additional 5,224 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Piper Sandler raised Investar from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $21.00 to $22.00 in a report on Tuesday. StockNews.com downgraded shares of Investar from a "buy" rating to a "hold" rating in a report on Sunday, April 6th.
Check Out Our Latest Stock Report on Investar
Investar Trading Up 10.4 %
Investar stock traded up $1.77 during trading on Tuesday, reaching $18.75. 25,904 shares of the company were exchanged, compared to its average volume of 44,247. Investar Holding Co. has a 52-week low of $14.60 and a 52-week high of $24.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The stock's 50 day simple moving average is $17.48 and its two-hundred day simple moving average is $20.00. The company has a market capitalization of $184.14 million, a P/E ratio of 9.19 and a beta of 0.52.
Investar (NASDAQ:ISTR - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.29. The company had revenue of $20.25 million for the quarter, compared to the consensus estimate of $19.90 million. Investar had a return on equity of 8.00% and a net margin of 12.81%. On average, equities research analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current fiscal year.
Investar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.24%. The ex-dividend date is Monday, March 31st. Investar's dividend payout ratio is currently 20.59%.
About Investar
(
Free Report)
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.
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