Wellington Management Group LLP Grows Stock Holdings in Investar Holding Co. (NASDAQ:ISTR)

Wellington Management Group LLP increased its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 42.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,877 shares of the financial services provider's stock after purchasing an additional 67,695 shares during the quarter. Wellington Management Group LLP owned approximately 2.33% of Investar worth $5,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. 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 during the last quarter. Empowered Funds LLC grew its stake in shares of Investar by 5.0% in the fourth quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider's stock worth $1,189,000 after purchasing an additional 2,599 shares during the last quarter. Northern Trust Corp grew its stake in shares of Investar by 3.6% in the fourth quarter. Northern Trust Corp now owns 101,031 shares of the financial services provider's stock worth $2,219,000 after purchasing an additional 3,477 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Investar by 7.5% in the fourth 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. Finally, JPMorgan Chase & Co. grew its stake in shares of Investar by 45.2% in the fourth quarter. JPMorgan Chase & Co. now owns 23,830 shares of the financial services provider's stock worth $523,000 after purchasing an additional 7,413 shares during the last quarter. 50.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ISTR has been the topic of several recent analyst reports. Piper Sandler raised Investar from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, April 22nd. Wall Street Zen lowered Investar from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Investar Stock Up 3.6%

Shares of ISTR stock traded up $0.68 during mid-day trading on Friday, reaching $19.33. 15,303 shares of the company's stock traded hands, compared to its average volume of 43,866. The company's 50-day moving average price is $18.19 and its 200-day moving average price is $19.49. The company has a market cap of $190.30 million, a P/E ratio of 9.48 and a beta of 0.56. 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 12 month low of $14.60 and a 12 month high of $24.81.

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

Investar Dividend Announcement

The firm 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. The ex-dividend date was Monday, March 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.17%. Investar's payout ratio is 19.18%.

About Investar

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.