Millennium Management LLC Makes New Investment in Investar Holding Co. (NASDAQ:ISTR)

Millennium Management LLC purchased a new position in Investar Holding Co. (NASDAQ:ISTR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 29,625 shares of the financial services provider's stock, valued at approximately $651,000. Millennium Management LLC owned about 0.30% of Investar at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Investar by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 341,384 shares of the financial services provider's stock worth $7,497,000 after purchasing an additional 23,895 shares during the last quarter. Wellington Management Group LLP boosted its position in Investar by 42.0% during the 4th quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock worth $5,026,000 after acquiring an additional 67,695 shares during the period. Russell Investments Group Ltd. boosted its position in Investar by 55.3% during the 4th quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider's stock worth $4,196,000 after acquiring an additional 68,027 shares during the period. Bridgeway Capital Management LLC boosted its position in Investar by 1.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider's stock worth $3,204,000 after acquiring an additional 2,099 shares during the period. Finally, Rhino Investment Partners Inc boosted its position in Investar by 383.8% during the 4th quarter. Rhino Investment Partners Inc now owns 145,448 shares of the financial services provider's stock worth $3,194,000 after acquiring an additional 115,387 shares during the period. Institutional investors own 50.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ISTR. Wall Street Zen lowered Investar from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Piper Sandler upgraded Investar from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, April 22nd.

Investar Price Performance

Shares of Investar stock traded down $0.14 during trading on Wednesday, hitting $19.33. The stock had a trading volume of 20,934 shares, compared to its average volume of 43,737. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $190.30 million, a P/E ratio of 9.48 and a beta of 0.56. The business has a fifty day moving average of $18.33 and a two-hundred day moving average of $19.41. Investar Holding Co. has a fifty-two week low of $14.60 and a fifty-two week high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.35 by $0.29. Investar had a return on equity of 8.00% and a net margin of 12.81%. The business had revenue of $20.25 million during the quarter, compared to the consensus estimate of $19.90 million. On average, sell-side analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current fiscal year.

Investar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, March 31st. Investar's dividend payout ratio is 19.18%.

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.