Investar (NASDAQ:ISTR) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Shares of Investar Holding Co. (NASDAQ:ISTR - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $19.47 and traded as high as $24.00. Investar shares last traded at $23.80, with a volume of 150,242 shares trading hands.

Analyst Upgrades and Downgrades

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

Investar Stock Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average of $19.55 and a 200-day moving average of $17.48. The firm has a market capitalization of $224.42 million, a P/E ratio of 12.75 and a beta of 0.76.

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 for the quarter, topping the consensus estimate of $0.33 by $0.12. The firm had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. Investar had a return on equity of 7.07% and a net margin of 11.35%. On average, research analysts anticipate that Investar Holding Co. will post 1.64 EPS for the current year.

Investar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.84%. This is a boost from Investar's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, September 30th. Investar's payout ratio is 23.46%.

Hedge Funds Weigh In On Investar

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC increased its position in shares of Investar by 7.9% in the first quarter. Empowered Funds LLC now owns 45,558 shares of the financial services provider's stock worth $745,000 after purchasing an additional 3,325 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Investar by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 99,326 shares of the financial services provider's stock worth $1,625,000 after acquiring an additional 12,412 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Investar in the first quarter valued at approximately $185,000. O Shaughnessy Asset Management LLC acquired a new position in Investar during the first quarter valued at approximately $504,000. Finally, Kennedy Capital Management LLC lifted its stake in Investar by 36.3% during the first quarter. Kennedy Capital Management LLC now owns 214,513 shares of the financial services provider's stock worth $3,509,000 after purchasing an additional 57,178 shares during the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Investar Company 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.