Banc Funds Co. LLC trimmed its position in Investar Holding Co. (NASDAQ:ISTR – Free Report) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,925 shares of the financial services provider’s stock after selling 25,692 shares during the quarter. Banc Funds Co. LLC owned 5.94% of Investar worth $11,328,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers increased its position in Investar by 2,810.1% during the second quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 10,257 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Investar during the third quarter worth approximately $572,000. Dimensional Fund Advisors LP raised its position in shares of Investar by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider’s stock valued at $3,869,000 after buying an additional 31,589 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Investar by 111.4% in the second quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider’s stock valued at $740,000 after buying an additional 25,330 shares during the period. Finally, Boston Partners grew its position in Investar by 24.8% during the first quarter. Boston Partners now owns 23,188 shares of the financial services provider’s stock worth $379,000 after buying an additional 4,614 shares in the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com cut Investar from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.
Insider Buying and Selling
In related news, Director Scott G. Ginn purchased 8,475 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of $23.68 per share, with a total value of $200,688.00. Following the acquisition, the director now owns 8,475 shares of the company’s stock, valued at $200,688. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.73% of the stock is owned by corporate insiders.
Investar Trading Down 1.4 %
ISTR opened at $23.82 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. Investar Holding Co. has a twelve month low of $10.87 and a twelve month high of $24.81. The stock has a market capitalization of $234.15 million, a price-to-earnings ratio of 13.31 and a beta of 0.76. The company has a 50-day simple moving average of $21.24 and a 200 day simple moving average of $18.32.
Investar (NASDAQ:ISTR – Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.12. Investar had a net margin of 11.35% and a return on equity of 6.94%. The business had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. Analysts predict that Investar Holding Co. will post 1.64 EPS for the current fiscal year.
Investar Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.105 per share. The ex-dividend date was Monday, September 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Investar’s previous quarterly dividend of $0.10. Investar’s payout ratio is 23.46%.
Investar 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.
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