Wellington Management Group LLP Sells 22,277 Shares of Investar Holding Corporation $ISTR

Key Points

• Wellington Management Group LLP reduced its stake in Investar Holding Corporation by 9.7%, holding approximately 206,600 shares valued at about $3.6 million.
• Piper Sandler has increased Investar's price target from $22.00 to $27.00 and has given the stock an "overweight" rating.
• Investar has declared a quarterly dividend of $0.11 per share, yielding approximately 1.9%, which represents a stable payout ratio of 19.64%.

Wellington Management Group LLP lessened its holdings in shares of Investar Holding Corporation (NASDAQ:ISTR - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 206,600 shares of the financial services provider's stock after selling 22,277 shares during the period. Wellington Management Group LLP owned approximately 2.10% of Investar worth $3,638,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Investar in the 1st quarter valued at $264,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Investar by 19.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,257 shares of the financial services provider's stock valued at $885,000 after buying an additional 8,331 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Investar by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 38,307 shares of the financial services provider's stock valued at $675,000 after buying an additional 1,256 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Investar by 26.4% in the first quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock valued at $53,000 after buying an additional 626 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Investar by 3,194.4% during the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider's stock valued at $310,000 after acquiring an additional 1,725 shares in the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Trading Up 1.3%

Shares of Investar stock traded up $0.29 during trading on Thursday, reaching $23.38. 32,076 shares of the company were exchanged, compared to its average volume of 32,429. The firm has a market capitalization of $229.83 million, a price-to-earnings ratio of 10.44 and a beta of 0.62. The business has a 50-day moving average price of $22.13 and a 200-day moving average price of $19.54. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. Investar Holding Corporation has a twelve month low of $15.39 and a twelve month high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $22.27 million for the quarter, compared to the consensus estimate of $21.15 million. Investar had a return on equity of 8.84% and a net margin of 14.33%. Sell-side analysts anticipate that Investar Holding Corporation will post 1.83 EPS for the current fiscal year.

Investar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, June 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. This is a boost from Investar's previous quarterly dividend of $0.11. Investar's dividend payout ratio (DPR) is presently 19.64%.

Wall Street Analyst Weigh In

ISTR has been the topic of a number of analyst reports. Wall Street Zen cut Investar from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Piper Sandler increased their price target on shares of Investar from $22.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $27.00.

Investar Company Profile

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.