Russell Investments Group Ltd. Purchases 68,027 Shares of Investar Holding Co. (NASDAQ:ISTR)

Russell Investments Group Ltd. lifted its position in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,093 shares of the financial services provider's stock after purchasing an additional 68,027 shares during the quarter. Russell Investments Group Ltd. owned 1.94% of Investar worth $4,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ISTR. Wells Fargo & Company MN increased its stake in Investar by 47.8% in the fourth 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. Trexquant Investment LP lifted its holdings in shares of Investar by 29.6% during the fourth quarter. Trexquant Investment LP now owns 23,268 shares of the financial services provider's stock valued at $511,000 after acquiring an additional 5,309 shares during the period. Wellington Management Group LLP boosted 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 purchasing an additional 67,695 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Investar by 38.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 98,293 shares of the financial services provider's stock worth $2,159,000 after purchasing an additional 27,254 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Investar by 1.9% during the 4th 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 last quarter. 50.17% of the stock is owned by institutional investors.

Investar Price Performance

Shares of ISTR traded up $0.77 during mid-day trading on Monday, hitting $16.98. 67,828 shares of the company traded hands, compared to its average volume of 44,308. 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 stock has a market capitalization of $166.76 million, a price-to-earnings ratio of 8.32 and a beta of 0.52. The business has a 50-day moving average of $17.48 and a 200 day moving average of $20.00. Investar Holding Co. has a one year low of $14.60 and a one year high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.29. Investar had a return on equity of 8.00% and a net margin of 12.81%. As a group, 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 will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.42 dividend on an annualized basis and a yield of 2.47%. Investar's payout ratio is presently 20.59%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com cut shares of Investar from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Piper Sandler began coverage on Investar in a report on Friday, February 21st. They set a "neutral" rating and a $21.00 target price on the stock.

Investar Company Profile

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.