Banc Funds Co. LLC Lowers Stake in Investar Holding Co. (NASDAQ:ISTR)

Banc Funds Co. LLC reduced its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,117 shares of the financial services provider's stock after selling 61,808 shares during the quarter. Banc Funds Co. LLC owned approximately 5.31% of Investar worth $11,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ISTR. New York State Common Retirement Fund grew its holdings in shares of Investar by 100.0% in the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,100 shares during the period. Wells Fargo & Company MN grew its position in shares of Investar by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 2,688 shares during the period. Prudential Financial Inc. bought a new stake in Investar during the 4th quarter worth approximately $211,000. JPMorgan Chase & Co. lifted its stake in Investar by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider's stock valued at $318,000 after buying an additional 5,190 shares in the last quarter. Finally, Trexquant Investment LP raised 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 worth $511,000 after acquiring an additional 5,309 shares during the period. 50.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Investar Price Performance

Investar stock traded up $0.13 during midday trading on Friday, reaching $16.21. The company's stock had a trading volume of 15,653 shares, compared to its average volume of 44,214. 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. The stock has a market cap of $159.20 million, a PE ratio of 7.95 and a beta of 0.52. The business has a 50-day moving average price of $17.53 and a 200-day moving average price of $20.00.

Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, sell-side analysts predict that Investar Holding Co. will post 1.83 EPS for the current year.

Investar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, March 31st. Investar's dividend payout ratio is currently 20.59%.

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.