Squarepoint Ops LLC Purchases New Shares in Investar Holding Corporation $ISTR

Key Points

• Squarepoint Ops LLC acquired 40,702 Investar shares in the second quarter, valued at approximately $1.22 million and representing about 0.30% of the company. Institutional investors collectively own 50.17% of Investar.
• Investar reported quarterly EPS of $0.75, beating analyst estimates of $0.71, while revenue reached $36.55 million. Analysts expect full-year EPS of approximately $3.15.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 payout and a 1.6% yield; analysts maintain a consensus “Hold” rating with a $31.50 price target.

Squarepoint Ops LLC acquired a new stake in shares of Investar Holding Corporation (NASDAQ:ISTR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,702 shares of the financial services provider's stock, valued at approximately $1,219,000. Squarepoint Ops LLC owned about 0.30% of Investar as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ISTR. Bank of New York Mellon Corp purchased a new stake in shares of Investar during the 2nd quarter valued at about $1,376,000. Renaissance Technologies LLC grew its position in Investar by 114.0% in the first quarter. Renaissance Technologies LLC now owns 105,250 shares of the financial services provider's stock worth $2,870,000 after acquiring an additional 56,075 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in Investar during the second quarter worth approximately $5,057,000. Hsbc Holdings PLC bought a new stake in Investar during the second quarter worth approximately $1,732,000. Finally, BlackRock Inc. purchased a new stake in Investar during the second quarter valued at approximately $37,649,000. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Stock Performance

Investar stock opened at $30.33 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50-day moving average is $30.20 and its 200 day moving average is $28.97. Investar Holding Corporation has a 1-year low of $21.43 and a 1-year high of $31.77. The firm has a market capitalization of $417.95 million, a P/E ratio of 12.48 and a beta of 0.45.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.04. Investar had a return on equity of 11.65% and a net margin of 17.55%.The firm had revenue of $36.55 million during the quarter, compared to analyst estimates of $36.35 million. Research analysts forecast that Investar Holding Corporation will post 3.15 EPS for the current year.

Investar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, September 30th. Investar's dividend payout ratio (DPR) is 19.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research lowered Investar from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Wall Street Zen raised Investar from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Investar in a report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.50.

Investar Company Profile

Investar Holding Corporation is a bank holding company headquartered in Baton Rouge, Louisiana. Its principal subsidiary, Investar Bank, is a community bank that provides banking and financial services to individuals, businesses and institutions.

Investar Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with lending services. Its loan activities include commercial and industrial loans, commercial real estate and construction financing, residential mortgage loans and consumer credit.

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