Russell Investments Group Ltd. lifted its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 191,093 shares of the financial services provider's stock after buying an additional 68,027 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.94% of Investar worth $4,196,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC grew its stake in Investar by 25.0% during the 3rd quarter. Barclays PLC now owns 26,122 shares of the financial services provider's stock worth $507,000 after buying an additional 5,224 shares during the last quarter. State Street Corp increased its holdings in shares of Investar by 5.6% in the 3rd quarter. State Street Corp now owns 108,540 shares of the financial services provider's stock worth $2,117,000 after acquiring an additional 5,774 shares during the period. Empowered Funds LLC lifted its position in Investar by 5.0% in the 4th quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider's stock valued at $1,189,000 after purchasing an additional 2,599 shares during the last quarter. JPMorgan Chase & Co. grew its position in Investar by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider's stock worth $318,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Investar by 49.6% in the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider's stock valued at $3,127,000 after purchasing an additional 53,434 shares during the period. 50.17% of the stock is currently owned by institutional investors and hedge funds.
Investar Price Performance
ISTR traded up $0.13 during trading on Friday, reaching $16.21. The stock had a trading volume of 15,653 shares, compared to its average volume of 44,126. Investar Holding Co. has a 1-year low of $14.60 and a 1-year high of $24.81. The firm has a market capitalization of $159.20 million, a price-to-earnings ratio of 7.95 and a beta of 0.52. The stock has a 50 day moving average of $17.53 and a two-hundred day moving average of $19.99. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85.
Investar (NASDAQ:ISTR - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. As a group, equities analysts anticipate that Investar Holding Co. will post 1.83 EPS for the current fiscal year.
Investar Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, March 31st. Investar's dividend payout ratio is presently 20.59%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on ISTR shares. Piper Sandler initiated coverage on Investar in a research report on Friday, February 21st. They set a "neutral" rating and a $21.00 price objective for the company. StockNews.com cut Investar from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th.
View Our Latest Stock Report on Investar
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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