Investar Holding Corporation (NASDAQ:ISTR) Short Interest Update

Key Points

• Short interest surged 40.7% to 282,792 shares as of March 31, representing about 2.3% of the company's stock and a days-to-cover ratio of 1.4.
• Insider activity and market view: CEO John J. D'Angelo sold 26,163 shares in January (a 9.73% reduction to his position); insiders own 8.81% and institutions own 50.17%. Analysts have an average "Hold" rating with a $29 price target, and the company pays a $0.11 quarterly dividend (1.6% yield).

Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 282,792 shares, a growth of 40.7% from the March 15th total of 200,957 shares. Approximately 2.3% of the company's stock are short sold. Based on an average daily volume of 199,116 shares, the days-to-cover ratio is currently 1.4 days.

Investar Trading Down 0.6%

ISTR opened at $28.36 on Wednesday. The company's 50 day simple moving average is $28.19 and its two-hundred day simple moving average is $26.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. Investar has a 1-year low of $15.86 and a 1-year high of $31.77. The firm has a market capitalization of $389.61 million, a price-to-earnings ratio of 13.25 and a beta of 0.51.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Investar had a net margin of 14.92% and a return on equity of 9.20%. The company had revenue of $23.93 million for the quarter, compared to the consensus estimate of $37.35 million. Analysts expect that Investar will post 1.83 EPS for the current fiscal year.

Investar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Investar's dividend payout ratio (DPR) is presently 20.56%.

Wall Street Analyst Weigh In

A number of 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 report on Tuesday, March 24th. Weiss Ratings downgraded shares of Investar from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Investar presently has an average rating of "Hold" and an average price target of $29.00.

Insider Activity at Investar

In related news, CEO John J. D'angelo sold 26,163 shares of the company's stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $28.01, for a total transaction of $732,825.63. Following the transaction, the chief executive officer directly owned 242,750 shares of the company's stock, valued at $6,799,427.50. This represents a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of Investar by 440.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider's stock valued at $56,000 after buying an additional 2,363 shares during the last quarter. CWM LLC lifted its stake in shares of Investar by 19.5% during the 3rd quarter. CWM LLC now owns 3,058 shares of the financial services provider's stock worth $71,000 after purchasing an additional 499 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Investar by 69.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider's stock worth $72,000 after purchasing an additional 1,100 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of 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 purchasing an additional 666 shares during the period. 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 worth $202,000 after buying an additional 1,182 shares during the period. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Investar Company Profile

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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