Connor Clark & Lunn Investment Management Ltd. Invests $572,000 in Investar Holding Co. (NASDAQ:ISTR)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Investar Holding Co. (NASDAQ:ISTR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 29,481 shares of the financial services provider's stock, valued at approximately $572,000. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Investar at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in shares of Investar during the third quarter worth $57,000. Rhumbline Advisers raised its holdings in shares of 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 purchasing an additional 10,257 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Investar during the third quarter worth $272,000. Ritholtz Wealth Management raised its holdings in shares of Investar by 92.3% during the second quarter. Ritholtz Wealth Management now owns 20,670 shares of the financial services provider's stock worth $318,000 after purchasing an additional 9,921 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Investar during the second quarter worth $329,000. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Investar

In other news, Director Scott G. Ginn acquired 8,475 shares of the business's stock in a transaction on Friday, November 22nd. The stock was bought at an average price of $23.68 per share, with a total value of $200,688.00. Following the completion of the acquisition, the director now owns 8,475 shares of the company's stock, valued at approximately $200,688. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.73% of the stock is owned by corporate insiders.

Investar Stock Performance

Shares of Investar stock traded down $0.35 during trading on Friday, hitting $23.82. 15,866 shares of the company's stock were exchanged, compared to its average volume of 42,273. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day simple moving average of $21.24 and a 200-day simple moving average of $18.31. Investar Holding Co. has a 52-week low of $10.87 and a 52-week high of $24.81. The stock has a market capitalization of $234.10 million, a price-to-earnings ratio of 13.31 and a beta of 0.76.

Investar (NASDAQ:ISTR - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.12. Investar had a net margin of 11.35% and a return on equity of 6.94%. The company had revenue of $40.39 million during the quarter, compared to analysts' expectations of $20.07 million. On average, research analysts forecast that Investar Holding Co. will post 1.64 EPS for the current year.

Investar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.105 dividend. This is a boost from Investar's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.76%. Investar's payout ratio is presently 23.46%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Investar from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th.

About Investar

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.