Wellington Management Group LLP Grows Stock Holdings in Investar Holding Co. (NASDAQ:ISTR)

Wellington Management Group LLP lifted its holdings in Investar Holding Co. (NASDAQ:ISTR - Free Report) by 42.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,877 shares of the financial services provider's stock after acquiring an additional 67,695 shares during the period. Wellington Management Group LLP owned 2.33% of Investar worth $5,026,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund raised its position in shares of Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,100 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Investar in the 4th quarter worth $211,000. BNP Paribas Financial Markets boosted its holdings in shares of Investar by 851.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 12,815 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Investar by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider's stock valued at $318,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Barclays PLC raised its stake in Investar by 25.0% during the third quarter. Barclays PLC now owns 26,122 shares of the financial services provider's stock valued at $507,000 after purchasing an additional 5,224 shares in the last quarter. Hedge funds and other institutional investors own 50.17% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ISTR shares. Piper Sandler initiated coverage on shares of Investar in a research report on Friday, February 21st. They set a "neutral" rating and a $21.00 target price on the stock. StockNews.com lowered Investar from a "buy" rating to a "hold" rating in a report on Sunday, April 6th.

Investar Stock Down 0.3 %

NASDAQ ISTR traded down $0.05 during trading on Wednesday, reaching $16.08. 512 shares of the company's stock traded hands, compared to its average volume of 43,880. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50 day simple moving average is $17.72 and its two-hundred day simple moving average is $20.06. Investar Holding Co. has a 12-month low of $14.60 and a 12-month high of $24.81. The firm has a market cap of $157.91 million, a price-to-earnings ratio of 7.82 and a beta of 0.52.

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, 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, sell-side analysts forecast that Investar Holding Co. will post 1.83 EPS for the current fiscal year.

Investar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, March 31st. Investar's dividend payout ratio is presently 20.59%.

Investar 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.