Hsbc Holdings PLC Buys 20,794 Shares of Investar Holding Corporation $ISTR

Key Points

• Hsbc Holdings PLC increased its stake in Investar Holding Corporation by 66.0%, owning 52,310 shares worth approximately $929,000 as of the end of the last quarter.
• Investar has reported a quarterly earnings per share of $0.47, surpassing expectations by $0.07, with a total revenue of $22.27 million.
• The company announced a quarterly dividend of $0.11 per share, representing a 1.9% yield, and reflects a boost from its previous dividend payout.

Hsbc Holdings PLC lifted its position in shares of Investar Holding Corporation (NASDAQ:ISTR - Free Report) by 66.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,310 shares of the financial services provider's stock after buying an additional 20,794 shares during the period. Hsbc Holdings PLC owned about 0.53% of Investar worth $929,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 1,725 shares in the last quarter. Copeland Capital Management LLC grew its position in Investar by 26.4% during the 1st quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock worth $53,000 after acquiring an additional 626 shares during the last quarter. Wells Fargo & Company MN grew its position in Investar by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock worth $182,000 after acquiring an additional 2,688 shares during the last quarter. Nuveen LLC bought a new position in Investar during the 1st quarter worth approximately $264,000. Finally, BNP Paribas Financial Markets grew its position in Investar by 12.7% during the 4th quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider's stock worth $354,000 after acquiring an additional 1,817 shares during the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Stock Up 1.1%

Shares of ISTR traded up $0.27 on Thursday, reaching $23.37. The stock had a trading volume of 13,996 shares, compared to its average volume of 33,262. The firm has a market capitalization of $229.68 million, a price-to-earnings ratio of 10.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $19.51. Investar Holding Corporation has a 12-month low of $15.39 and a 12-month high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last released its earnings results on Monday, July 21st. The financial services provider reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The company had revenue of $22.27 million during the quarter, compared to analysts' expectations of $21.15 million. Investar had a return on equity of 8.84% and a net margin of 14.33%. Sell-side analysts predict that Investar Holding Corporation will post 1.83 EPS for the current year.

Investar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.9%. This is a positive change from Investar's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, June 30th. Investar's dividend payout ratio is presently 19.64%.

Analysts Set New Price Targets

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

About Investar

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.