Investar (NASDAQ:ISTR) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Investar Holding Co. (NASDAQ:ISTR) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.05 and traded as high as $23.59. Investar shares last traded at $23.59, with a volume of 25,132 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Investar from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Investar Stock Up 1.6 %

The company’s 50-day moving average is $20.17 and its 200 day moving average is $17.79. The company has a market capitalization of $231.89 million, a PE ratio of 13.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95.

Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. The company had revenue of $40.39 million for the quarter, compared to the consensus estimate of $20.07 million. Investar had a net margin of 11.35% and a return on equity of 6.94%. As a group, analysts anticipate that Investar Holding Co. will post 1.64 EPS for the current year.

Investar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.42 annualized dividend and a yield of 1.78%. This is a boost from Investar’s previous quarterly dividend of $0.10. Investar’s dividend payout ratio is currently 23.46%.

Hedge Funds Weigh In On Investar

Several hedge funds and other institutional investors have recently bought and sold shares of ISTR. Kennedy Capital Management LLC lifted its stake in Investar by 36.3% during the 1st quarter. Kennedy Capital Management LLC now owns 214,513 shares of the financial services provider’s stock valued at $3,509,000 after acquiring an additional 57,178 shares during the period. Wellington Management Group LLP lifted its stake in Investar by 49.6% during the 3rd quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock valued at $3,127,000 after acquiring an additional 53,434 shares during the period. Dimensional Fund Advisors LP lifted its stake in Investar by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider’s stock valued at $3,869,000 after acquiring an additional 31,589 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Investar in the 1st quarter worth approximately $504,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Investar in the 3rd quarter worth approximately $572,000. Institutional investors own 50.17% of the company’s 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.