Kestra Advisory Services LLC Acquires Shares of 73,956 Investar Holding Corporation $ISTR

Key Points

• Kestra Advisory Services disclosed a new first-quarter stake in Investar Holding, buying 73,956 shares valued at about $2.0 million, or roughly 0.54% of the company.
• Investar reported better-than-expected quarterly earnings, posting $0.75 EPS versus the $0.70 consensus and revenue of $36.55 million, while analysts expect 3.1 EPS for the full year.
• The company raised its quarterly dividend to $0.12 per share from $0.11, giving it an annualized yield of about 1.6%; analysts currently rate the stock a Buy on average with a $31.50 target.

Kestra Advisory Services LLC acquired a new stake in Investar Holding Corporation (NASDAQ:ISTR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 73,956 shares of the financial services provider's stock, valued at approximately $2,017,000. Kestra Advisory Services LLC owned approximately 0.54% of Investar at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Investar by 69.1% in 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 buying an additional 1,100 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 worth $56,000 after buying an additional 2,363 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Investar by 24.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider's stock worth $78,000 after buying an additional 666 shares during the last quarter. CWM LLC boosted its position in shares of Investar by 12.6% during the 4th quarter. CWM LLC now owns 3,442 shares of the financial services provider's stock worth $92,000 after acquiring an additional 384 shares in the last quarter. Finally, ELCO Management Co. LLC acquired a new position in shares of Investar during the 4th quarter worth about $215,000. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Stock Down 0.9%

Shares of NASDAQ:ISTR opened at $29.59 on Tuesday. Investar Holding Corporation has a 1-year low of $20.99 and a 1-year high of $31.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $408.05 million, a P/E ratio of 12.98 and a beta of 0.45. The firm has a fifty day moving average price of $29.07 and a 200 day moving average price of $28.38.

Investar (NASDAQ:ISTR - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Investar had a net margin of 16.53% and a return on equity of 10.62%. The company had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.35 million. Sell-side analysts predict that Investar Holding Corporation will post 3.1 EPS for the current year.

Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.12 dividend. This is a boost from Investar's previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, June 30th. This represents a $0.48 annualized dividend and a yield of 1.6%. Investar's payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ISTR shares. Weiss Ratings raised Investar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 1st. Zacks Research upgraded shares of Investar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Piper Sandler reissued a "neutral" rating and set a $31.50 price objective on shares of Investar in a report on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Investar from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Investar currently has an average rating of "Buy" and an average 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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