Hsbc Holdings PLC Buys New Position in Investar Holding Corporation $ISTR

Key Points

• Hsbc Holdings PLC acquired 57,802 shares of Investar Holding, worth approximately $1.73 million and representing 0.42% of the company. Institutional investors and hedge funds collectively own 50.17% of Investar.
• Investar reported quarterly EPS of $0.75, exceeding the $0.71 consensus estimate, while revenue reached $36.55 million. The company also raised its quarterly dividend to $0.12 per share, or $0.48 annually.
• Analysts have a consensus “Buy” rating on the stock, with a target price of $31.50; Investar shares recently opened at $30.29.

Hsbc Holdings PLC bought a new stake in Investar Holding Corporation (NASDAQ:ISTR - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 57,802 shares of the financial services provider's stock, valued at approximately $1,732,000. Hsbc Holdings PLC owned 0.42% of Investar as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in shares of Investar by 7.2% in the first quarter. Empowered Funds LLC now owns 58,028 shares of the financial services provider's stock valued at $1,022,000 after acquiring an additional 3,905 shares during the period. Geode Capital Management LLC increased its holdings in shares of Investar by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 230,560 shares of the financial services provider's stock valued at $4,455,000 after acquiring an additional 2,639 shares during the period. Rhumbline Advisers raised 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 valued at $202,000 after purchasing an additional 1,182 shares during the last quarter. American Century Companies Inc. raised its position in Investar by 6.9% in the 2nd quarter. American Century Companies Inc. now owns 58,404 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 3,757 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Investar by 46.9% during the 2nd quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider's stock worth $347,000 after purchasing an additional 5,738 shares during the period. Institutional investors and hedge funds own 50.17% of the company's stock.

Investar Price Performance

Shares of NASDAQ ISTR opened at $30.29 on Monday. The stock has a fifty day moving average price of $29.94 and a 200 day moving average price of $28.87. Investar Holding Corporation has a 1-year low of $21.43 and a 1-year high of $31.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $417.40 million, a PE ratio of 12.47 and a beta of 0.45.

Investar (NASDAQ:ISTR - Get Free Report) last announced 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 company 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%. Sell-side analysts forecast that Investar Holding Corporation will post 3.15 EPS for the current year.

Investar Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen raised shares of Investar from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. Weiss Ratings upgraded shares of Investar from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 1st. Finally, Zacks Research raised Investar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $31.50.

Investar 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.

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