Franklin Resources Inc. trimmed its holdings in shares of Investar Holding Co. (NASDAQ:ISTR - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,342 shares of the financial services provider's stock after selling 57,640 shares during the period. Franklin Resources Inc. owned 1.35% of Investar worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Investar by 42.0% in the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock worth $5,026,000 after buying an additional 67,695 shares during the period. Arrowstreet Capital Limited Partnership raised its stake 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. State Street Corp lifted its position in shares of Investar by 5.6% during the third quarter. State Street Corp now owns 108,540 shares of the financial services provider's stock worth $2,117,000 after purchasing an additional 5,774 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Investar by 38.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 98,293 shares of the financial services provider's stock valued at $2,159,000 after purchasing an additional 27,254 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in Investar by 3.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 92,200 shares of the financial services provider's stock valued at $2,025,000 after purchasing an additional 3,200 shares in the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on ISTR shares. StockNews.com downgraded Investar from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Piper Sandler assumed coverage on shares of Investar in a report on Friday, February 21st. They issued a "neutral" rating and a $21.00 price target on the stock.
Get Our Latest Stock Analysis on ISTR
Investar Stock Performance
Shares of ISTR traded up $0.13 during mid-day trading on Friday, hitting $16.21. The stock had a trading volume of 15,653 shares, compared to its average volume of 44,080. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market cap of $159.20 million, a PE ratio of 7.95 and a beta of 0.52. Investar Holding Co. has a fifty-two week low of $14.60 and a fifty-two week high of $24.81. The company's fifty day simple moving average is $17.60 and its two-hundred day simple moving average is $20.01.
Investar (NASDAQ:ISTR - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, equities analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current year.
Investar Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.105 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.42 dividend on an annualized basis and a yield of 2.59%. Investar's dividend payout ratio is currently 20.59%.
Investar 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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