Investar Holding Co. (NASDAQ:ISTR) Stock Position Raised by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,877 shares of the financial services provider's stock after purchasing an additional 67,695 shares during the period. Wellington Management Group LLP owned about 2.33% of Investar worth $5,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings 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. Wells Fargo & Company MN increased its position in Investar by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 2,688 shares during the period. Prudential Financial Inc. acquired a new position in shares of Investar during the fourth quarter valued at approximately $211,000. BNP Paribas Financial Markets raised its holdings in Investar by 12.7% during the fourth quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider's stock worth $354,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Investar by 8.0% during 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. Hedge funds and other institutional investors own 50.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ISTR. Piper Sandler upgraded Investar from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $21.00 to $22.00 in a research 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.

Investar Price Performance

Shares of NASDAQ ISTR traded down $0.15 during midday trading on Thursday, reaching $18.65. The company's stock had a trading volume of 15,142 shares, compared to its average volume of 43,794. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $18.13 and a 200 day moving average price of $19.55. Investar Holding Co. has a one year low of $14.60 and a one year high of $24.81. The company has a market cap of $183.61 million, a price-to-earnings ratio of 9.14 and a beta of 0.58.

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

Investar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, March 31st. Investar's dividend payout ratio is presently 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.