Short Interest in Investar Holding Co. (NASDAQ:ISTR) Increases By 21.7%

Investar Holding Co. (NASDAQ:ISTR - Get Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 186,200 shares, an increase of 21.7% from the December 31st total of 153,000 shares. Based on an average daily volume of 32,300 shares, the days-to-cover ratio is presently 5.8 days. Approximately 2.2% of the shares of the company are short sold.

Insider Transactions at Investar

In other Investar news, Director Scott G. Ginn bought 8,475 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $23.68 per share, for a total transaction 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. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.73% of the company's stock.

Institutional Trading of Investar

A number of hedge funds and other institutional investors have recently modified their holdings of ISTR. Wellington Management Group LLP grew 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 buying an additional 53,434 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Investar by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider's stock valued at $3,869,000 after purchasing an additional 31,589 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Investar in the third quarter valued at approximately $572,000. Ritholtz Wealth Management grew its holdings in shares of Investar by 51.7% in the fourth quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider's stock valued at $1,301,000 after purchasing an additional 20,196 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Investar during the 3rd quarter worth approximately $272,000. 50.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Investar Stock Performance

Shares of NASDAQ ISTR traded up $0.21 during midday trading on Tuesday, reaching $18.83. 31,753 shares of the stock were exchanged, compared to its average volume of 31,857. 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 firm has a 50-day simple moving average of $21.49 and a two-hundred day simple moving average of $20.13. Investar has a twelve month low of $14.60 and a twelve month high of $24.81. The firm has a market cap of $185.10 million, a price-to-earnings ratio of 9.23 and a beta of 0.79.

Investar (NASDAQ:ISTR - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping 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, analysts anticipate that Investar will post 1.83 EPS for the current fiscal year.

Investar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.105 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.42 dividend on an annualized basis and a yield of 2.23%. Investar's dividend payout ratio is currently 20.59%.

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.