Investar Holding Co. (NASDAQ:ISTR) Shares Purchased by Rhino Investment Partners Inc

Rhino Investment Partners Inc boosted its holdings in shares of Investar Holding Co. (NASDAQ:ISTR - Free Report) by 383.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,448 shares of the financial services provider's stock after purchasing an additional 115,387 shares during the period. Rhino Investment Partners Inc owned about 1.48% of Investar worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in Investar by 55.3% in the fourth quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider's stock valued at $4,196,000 after acquiring an additional 68,027 shares during the period. Wellington Management Group LLP grew its stake in shares of Investar by 42.0% in the 4th quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock valued at $5,026,000 after buying an additional 67,695 shares during the period. O Shaughnessy Asset Management LLC raised its position in 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. Dimensional Fund Advisors LP raised its holdings in Investar by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 341,384 shares of the financial services provider's stock valued at $7,497,000 after buying an additional 23,895 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Investar by 51.7% during the fourth quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider's stock valued at $1,301,000 after acquiring an additional 20,196 shares during the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Stock Down 1.9 %

NASDAQ:ISTR traded down $0.38 during trading hours on Tuesday, hitting $19.29. The company's stock had a trading volume of 7,094 shares, compared to its average volume of 44,275. The stock has a fifty day moving average of $17.46 and a 200-day moving average of $19.93. The stock has a market capitalization of $189.49 million, a P/E ratio of 9.46 and a beta of 0.52. Investar Holding Co. has a 52-week low of $14.60 and a 52-week high of $24.81. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85.

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 analysts' consensus estimates of $0.35 by $0.29. The company had revenue of $20.25 million for the quarter, compared to analysts' expectations of $19.90 million. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, equities analysts forecast that Investar Holding Co. will post 1.83 earnings per share for the current year.

Investar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, March 31st. Investar's dividend payout ratio is currently 19.18%.

Wall Street Analyst Weigh In

ISTR has been the topic of a number of recent research reports. StockNews.com lowered shares of Investar from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Piper Sandler raised Investar from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, April 22nd.

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.