Investar Holding Co. (NASDAQ:ISTR - Get Free Report) Director Scott G. Ginn acquired 8,475 shares of Investar stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of $23.68 per share, with a total value of $200,688.00. Following the purchase, the director now owns 8,475 shares of the company's stock, valued at $200,688. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Investar Stock Performance
NASDAQ ISTR opened at $24.36 on Tuesday. The business's 50-day moving average price is $20.83 and its 200 day moving average price is $18.10. 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 market cap of $239.41 million, a P/E ratio of 13.61 and a beta of 0.76. Investar Holding Co. has a 52-week low of $10.34 and a 52-week high of $24.81.
Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.12. The company had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. Investar had a return on equity of 6.94% and a net margin of 11.35%. On average, equities research analysts expect that Investar Holding Co. will post 1.64 earnings per share for the current year.
Investar Increases Dividend
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The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.105 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.72%. This is an increase from Investar's previous quarterly dividend of $0.10. Investar's dividend payout ratio (DPR) is 23.46%.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Investar from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th.
Check Out Our Latest Research Report on ISTR
Hedge Funds Weigh In On Investar
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC acquired a new position in Investar during the first quarter worth about $504,000. Rhumbline Advisers boosted its position in Investar by 2,810.1% during the second quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider's stock worth $164,000 after purchasing an additional 10,257 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Investar by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 99,326 shares of the financial services provider's stock valued at $1,625,000 after buying an additional 12,412 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Investar by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider's stock worth $3,869,000 after buying an additional 31,589 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Investar by 111.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider's stock worth $740,000 after buying an additional 25,330 shares in the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.
Investar Company Profile
(
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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