Vanguard Group Inc grew its holdings in Investar Holding Corp (NASDAQ:ISTR) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 387,878 shares of the financial services provider’s stock after purchasing an additional 1,687 shares during the quarter. Vanguard Group Inc’s holdings in Investar were worth $10,414,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Investar by 22.4% in the third quarter. Dimensional Fund Advisors LP now owns 86,290 shares of the financial services provider’s stock valued at $2,317,000 after purchasing an additional 15,770 shares during the period. Northern Trust Corp boosted its stake in shares of Investar by 5.9% in the second quarter. Northern Trust Corp now owns 98,551 shares of the financial services provider’s stock valued at $2,725,000 after purchasing an additional 5,510 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Investar by 7.4% in the third quarter. Renaissance Technologies LLC now owns 61,648 shares of the financial services provider’s stock valued at $1,655,000 after purchasing an additional 4,248 shares during the period. BlackRock Inc. boosted its stake in shares of Investar by 1.3% in the third quarter. BlackRock Inc. now owns 433,829 shares of the financial services provider’s stock valued at $11,649,000 after purchasing an additional 5,765 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Investar by 173.5% in the third quarter. JPMorgan Chase & Co. now owns 5,117 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 3,246 shares during the period. 57.92% of the stock is owned by institutional investors and hedge funds.
ISTR has been the subject of several recent research reports. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, October 16th. FIG Partners initiated coverage on shares of Investar in a research note on Wednesday, October 10th. They issued a “buy” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Investar has an average rating of “Buy” and an average target price of $29.50.
In other news, Director Andrew C. Nelson bought 2,000 shares of Investar stock in a transaction that occurred on Thursday, January 31st. The shares were purchased at an average price of $24.03 per share, with a total value of $48,060.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.07% of the stock is owned by company insiders.
Shares of NASDAQ:ISTR opened at $23.80 on Wednesday. The company has a market capitalization of $223.19 million, a P/E ratio of 14.08 and a beta of 0.20. Investar Holding Corp has a fifty-two week low of $19.49 and a fifty-two week high of $29.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.04 and a current ratio of 1.04.
Investar (NASDAQ:ISTR) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $15.64 million for the quarter, compared to analysts’ expectations of $15.93 million. Investar had a net margin of 17.40% and a return on equity of 9.09%. As a group, analysts predict that Investar Holding Corp will post 1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Monday, December 31st were issued a $0.05 dividend. This is a boost from Investar’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, December 28th. This represents a $0.20 annualized dividend and a yield of 0.84%. Investar’s dividend payout ratio (DPR) is 12.20%.
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Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. The company offers various deposit products and services, such as savings, checking, money market, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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