Banc Funds Co. LLC decreased its stake in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 583,925 shares of the financial services provider's stock after selling 25,692 shares during the quarter. Banc Funds Co. LLC owned about 5.94% of Investar worth $11,328,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ISTR. Copeland Capital Management LLC bought a new stake in shares of Investar during the 3rd quarter worth approximately $57,000. MetLife Investment Management LLC lifted its stake in shares of Investar by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider's stock worth $105,000 after acquiring an additional 3,059 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Investar by 2,810.1% during the 2nd 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 last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Investar during the 3rd quarter worth approximately $272,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Investar by 851.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider's stock worth $278,000 after acquiring an additional 12,815 shares during the last quarter. Hedge funds and other institutional investors own 50.17% of the company's stock.
Investar Stock Performance
Investar stock traded up $0.08 during trading hours on Monday, hitting $23.90. 15,701 shares of the stock traded hands, compared to its average volume of 42,156. Investar Holding Co. has a 1 year low of $11.36 and a 1 year high of $24.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $234.94 million, a price-to-earnings ratio of 13.31 and a beta of 0.76. The firm's 50 day moving average price is $21.24 and its 200-day moving average price is $18.32.
Investar (NASDAQ:ISTR - Get Free Report) last announced its earnings results on Monday, October 21st. The financial services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.12. The business had revenue of $40.39 million during the quarter, compared to analysts' expectations of $20.07 million. Investar had a return on equity of 6.94% and a net margin of 11.35%. As a group, equities analysts expect that Investar Holding Co. will post 1.64 EPS for the current fiscal year.
Investar Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.105 per share. This is a positive change from Investar's previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, September 30th. Investar's dividend payout ratio (DPR) is currently 23.46%.
Insider Activity
In other news, Director Scott G. Ginn bought 8,475 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $23.68 per share, for a total transaction of $200,688.00. Following the completion of the transaction, the director now owns 8,475 shares of the company's stock, valued at approximately $200,688. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.73% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com lowered Investar from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th.
Read Our Latest Analysis on Investar
Investar Company Profile
(
Free Report)
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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