Renaissance Technologies LLC Boosts Stake in Investar Holding Corporation $ISTR

Key Points

• Renaissance Technologies more than doubled its Investar stake in the first quarter, increasing holdings by 114% to 105,250 shares valued at approximately $2.87 million. Institutional investors collectively own 50.17% of Investar.
• Investar reported quarterly EPS of $0.75, exceeding estimates of $0.71, while revenue reached $36.55 million. The company also raised its quarterly dividend from $0.11 to $0.12 per share, equating to a 1.6% yield.
• Analyst sentiment is generally positive, with the stock carrying a consensus “Buy” rating and a $31.50 target price; Investar shares recently opened at $30.06.

Renaissance Technologies LLC grew its position in shares of Investar Holding Corporation (NASDAQ:ISTR - Free Report) by 114.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,250 shares of the financial services provider's stock after acquiring an additional 56,075 shares during the quarter. Renaissance Technologies LLC owned about 0.76% of Investar worth $2,870,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Investar by 440.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 2,363 shares in the last quarter. Public Employees Retirement System of Ohio raised 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 period. BNP Paribas Financial Markets raised its holdings in Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider's stock valued at $78,000 after buying an additional 666 shares during the period. CWM LLC lifted its position in Investar by 12.6% during the fourth quarter. CWM LLC now owns 3,442 shares of the financial services provider's stock valued at $92,000 after buying an additional 384 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Investar by 12.8% during the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider's stock valued at $202,000 after buying an additional 1,182 shares in the last quarter. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

Investar Price Performance

ISTR opened at $30.06 on Monday. The company has a fifty day simple moving average of $29.58 and a 200 day simple moving average of $28.68. The firm has a market cap of $414.65 million, a price-to-earnings ratio of 12.37 and a beta of 0.45. Investar Holding Corporation has a twelve month low of $21.35 and a twelve month high of $31.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. The firm had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.35 million. Investar had a net margin of 17.55% and a return on equity of 12.44%. Equities research analysts expect that Investar Holding Corporation will post 3.15 EPS for the current fiscal year.

Investar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from Investar's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. Investar's dividend payout ratio is presently 19.75%.

Wall Street Analyst Weigh In

ISTR has been the subject of several recent research reports. Weiss Ratings raised shares of Investar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of Investar from a "hold" rating to a "buy" rating in a report on Sunday, May 24th. Piper Sandler restated a "neutral" rating and set a $31.50 target price on shares of Investar in a report on Thursday, April 23rd. Finally, Zacks Research raised shares of Investar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $31.50.

About Investar

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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