Bank of New York Mellon Corp Acquires New Shares in Investar Holding Corporation $ISTR

Bank of New York Mellon Corp acquired a new position in Investar Holding Corporation (NASDAQ:ISTR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 45,920 shares of the financial services provider's stock, valued at approximately $1,376,000. Bank of New York Mellon Corp owned approximately 0.33% of Investar as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 2,363 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Investar by 69.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Financial Markets boosted its holdings in Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider's stock worth $78,000 after purchasing an additional 666 shares during the last quarter. Rhumbline Advisers grew its position in Investar by 12.8% in the 2nd quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider's stock worth $202,000 after purchasing an additional 1,182 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Investar by 93.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,117 shares of the financial services provider's stock worth $258,000 after purchasing an additional 5,379 shares during the period. Hedge funds and other institutional investors own 50.17% of the company's stock.

Investar Price Performance

Shares of Investar stock opened at $30.50 on Thursday. The company has a market capitalization of $420.29 million, a price-to-earnings ratio of 12.55 and a beta of 0.45. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock's 50-day simple moving average is $30.05 and its 200-day simple moving average is $28.91. Investar Holding Corporation has a 52 week low of $21.43 and a 52 week high of $31.77.

Investar (NASDAQ:ISTR - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $36.55 million for the quarter, compared to analysts' expectations of $36.35 million. Investar had a net margin of 17.55% and a return on equity of 11.65%. As a group, analysts expect that Investar Holding Corporation will post 3.15 earnings per share for the current fiscal year.

Investar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from Investar's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. Investar's dividend payout ratio (DPR) is 19.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ISTR shares. Wall Street Zen cut Investar from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. Zacks Research lowered Investar from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Investar in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Investar has an average rating of "Hold" and an average target price of $31.50.

Investar Company Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank's offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.

Want to see what other hedge funds are holding ISTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investar Holding Corporation (NASDAQ:ISTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.