Hotchkis & Wiley Capital Management LLC reduced its position in shares of Investar Holding Co. (NASDAQ:ISTR - Free Report) by 30.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,850 shares of the financial services provider's stock after selling 59,600 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.38% of Investar worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in ISTR. Dimensional Fund Advisors LP raised its stake in shares of Investar by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider's stock worth $3,869,000 after buying an additional 31,589 shares during the last quarter. Empowered Funds LLC raised its position in shares of Investar by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 51,524 shares of the financial services provider's stock valued at $1,000,000 after acquiring an additional 2,546 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Investar by 111.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider's stock valued at $740,000 after purchasing an additional 25,330 shares during the period. Ritholtz Wealth Management boosted its position in shares of Investar by 88.9% in the 3rd quarter. Ritholtz Wealth Management now owns 39,037 shares of the financial services provider's stock worth $757,000 after purchasing an additional 18,367 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Investar by 34.4% in the 2nd quarter. Renaissance Technologies LLC now owns 30,075 shares of the financial services provider's stock worth $463,000 after purchasing an additional 7,700 shares during the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, StockNews.com lowered Investar from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th.
Get Our Latest Research Report on Investar
Investar Trading Down 0.8 %
Investar stock traded down $0.18 during midday trading on Friday, hitting $23.63. 22,123 shares of the stock were exchanged, compared to its average volume of 26,212. Investar Holding Co. has a 52 week low of $11.70 and a 52 week high of $24.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $232.24 million, a PE ratio of 13.20 and a beta of 0.79. The company has a fifty day simple moving average of $21.70 and a two-hundred day simple moving average of $18.57.
Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. The company had revenue of $40.39 million during the quarter, compared to analyst estimates of $20.07 million. Investar had a net margin of 11.35% and a return on equity of 6.94%. Equities research analysts anticipate 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. Shareholders of record on Monday, September 30th were issued a $0.105 dividend. This is an increase from Investar's previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, September 30th. Investar's dividend payout ratio is 23.46%.
Insider Transactions at Investar
In related news, Director Scott G. Ginn acquired 8,475 shares of the stock in a transaction dated 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 transaction, the director now directly owns 8,475 shares of the company's stock, valued at approximately $200,688. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.73% of the stock is currently owned by insiders.
About Investar
(
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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