Millennium Management LLC purchased a new stake in shares of Investar Holding Co. (NASDAQ:ISTR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,625 shares of the financial services provider's stock, valued at approximately $651,000. Millennium Management LLC owned approximately 0.30% of Investar at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund grew its stake in Investar by 100.0% during the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock worth $48,000 after buying an additional 1,100 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Investar by 8.0% in the fourth quarter. Ameriprise Financial Inc. now owns 17,455 shares of the financial services provider's stock worth $383,000 after purchasing an additional 1,300 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Investar by 12.7% during the fourth quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 1,817 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Investar by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider's stock valued at $3,204,000 after purchasing an additional 2,099 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Investar by 1.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 126,077 shares of the financial services provider's stock valued at $2,769,000 after purchasing an additional 2,301 shares during the period. 50.17% of the stock is owned by institutional investors and hedge funds.
Investar Trading Up 3.6%
NASDAQ:ISTR opened at $19.33 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. Investar Holding Co. has a 1-year low of $14.60 and a 1-year high of $24.81. The firm has a market capitalization of $190.30 million, a price-to-earnings ratio of 9.48 and a beta of 0.56. The stock has a fifty day simple moving average of $18.19 and a 200 day simple moving average of $19.47.
Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.29. Investar had a return on equity of 8.00% and a net margin of 12.81%. The firm had revenue of $20.25 million during the quarter, compared to analyst estimates of $19.90 million. Sell-side analysts forecast that Investar Holding Co. will post 1.83 earnings per share for the current year.
Investar Dividend Announcement
The company also recently declared 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. The ex-dividend date was Monday, March 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.17%. Investar's dividend payout ratio is 19.18%.
Analyst Ratings Changes
A number of brokerages have recently commented on ISTR. Piper Sandler raised Investar from a "neutral" rating to an "overweight" rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, April 22nd. Wall Street Zen lowered Investar from a "buy" rating to a "hold" rating in a report on Saturday, May 17th.
Check Out Our Latest Research Report on ISTR
Investar Company Profile
(
Free Report)
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.
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