Investar (NASDAQ:ISTR) Shares Pass Above 50 Day Moving Average of $21.74

Investar Holding Co. (NASDAQ:ISTRGet Rating) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.74 and traded as high as $21.92. Investar shares last traded at $21.58, with a volume of 3,472 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ISTR shares. Piper Sandler lowered their price objective on Investar to $23.00 in a research report on Thursday, September 29th. StockNews.com raised Investar from a “hold” rating to a “buy” rating in a research report on Wednesday.

Investar Stock Performance

The stock has a 50-day moving average price of $21.74 and a 200 day moving average price of $21.63. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $213.45 million, a PE ratio of 6.56 and a beta of 0.49.

Investar (NASDAQ:ISTRGet Rating) last posted its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Investar had a return on equity of 11.71% and a net margin of 29.21%. The firm had revenue of $26.13 million during the quarter, compared to the consensus estimate of $24.56 million. Research analysts forecast that Investar Holding Co. will post 2.71 earnings per share for the current year.

Investar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Monday, January 2nd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 29th. Investar’s dividend payout ratio (DPR) is presently 11.55%.

Insider Buying and Selling at Investar

In other Investar news, Director James M. Baker sold 3,730 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $20.79, for a total transaction of $77,546.70. Following the completion of the sale, the director now owns 7,650 shares of the company’s stock, valued at $159,043.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fourthstone LLC lifted its stake in shares of Investar by 19.9% during the first quarter. Fourthstone LLC now owns 967,273 shares of the financial services provider’s stock worth $18,465,000 after purchasing an additional 160,309 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Investar by 7.5% during the third quarter. Dimensional Fund Advisors LP now owns 251,717 shares of the financial services provider’s stock worth $5,009,000 after purchasing an additional 17,508 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Investar by 19.2% during the first quarter. Wellington Management Group LLP now owns 189,308 shares of the financial services provider’s stock worth $3,614,000 after purchasing an additional 30,477 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Investar by 11.2% during the second quarter. Millennium Management LLC now owns 66,346 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 6,696 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Investar by 44.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 40,424 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 12,383 shares in the last quarter. Institutional investors and hedge funds own 58.66% of the company’s stock.

About Investar

(Get Rating)

Investar Holding Corp. is a financial holding company, which engages in the provision of full banking services. It offers a full range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses as well as loans to individuals. Its lending products consists of owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while its loans to individuals include first and second mortgage loans, installment loans, and lines of credit.

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