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

Investar Holding Co. (NASDAQ:ISTR - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $18.00 and traded as high as $18.98. Investar shares last traded at $18.94, with a volume of 12,009 shares.

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Analyst Ratings Changes

Separately, StockNews.com lowered shares of Investar from a "buy" rating to a "hold" rating in a research report on Monday, August 5th.

Check Out Our Latest Analysis on ISTR

Investar Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average price of $18.00 and a 200 day moving average price of $16.73. The firm has a market capitalization of $186.46 million, a PE ratio of 10.58 and a beta of 0.78.

Investar (NASDAQ:ISTR - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The business had revenue of $38.54 million during the quarter, compared to the consensus estimate of $19.23 million. Investar had a return on equity of 6.69% and a net margin of 10.04%. Analysts forecast that Investar Holding Co. will post 1.52 earnings per share for the current year.

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Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.105 dividend. This is an increase from Investar's previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, September 30th. Investar's payout ratio is currently 23.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ISTR. O Shaughnessy Asset Management LLC bought a new stake in Investar in the first quarter worth $504,000. Rhumbline Advisers increased its holdings in shares of Investar by 2,810.1% in the 2nd quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider's stock worth $164,000 after buying an additional 10,257 shares during the last quarter. Empowered Funds LLC raised its position in shares of Investar by 7.9% during the 1st quarter. Empowered Funds LLC now owns 45,558 shares of the financial services provider's stock valued at $745,000 after buying an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Investar by 14.3% in the 1st quarter. Russell Investments Group Ltd. now owns 99,326 shares of the financial services provider's stock valued at $1,625,000 after acquiring an additional 12,412 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Investar by 111.4% during the second quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider's stock worth $740,000 after acquiring an additional 25,330 shares during the last quarter. Institutional investors own 50.17% of the company's stock.

About Investar

(Get 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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