Charles Schwab Investment Management Inc. Cuts Stock Position in Investar Holding Co. (NASDAQ:ISTR)

Charles Schwab Investment Management Inc. trimmed its position in Investar Holding Co. (NASDAQ:ISTR) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,778 shares of the financial services provider’s stock after selling 1,000 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Investar were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ISTR. New York State Common Retirement Fund boosted its position in shares of Investar by 100.0% in the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,100 shares in the last quarter. Empowered Funds LLC increased its position in Investar by 5.0% during the 4th quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider’s stock valued at $1,189,000 after buying an additional 2,599 shares in the last quarter. MetLife Investment Management LLC raised its stake in Investar by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after buying an additional 3,059 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Investar by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 5,190 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Investar by 25.0% during the third quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 5,224 shares during the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISTR has been the subject of several research analyst reports. StockNews.com raised shares of Investar from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler began coverage on shares of Investar in a report on Friday, February 21st. They issued a “neutral” rating and a $21.00 price target for the company.

Investar Stock Down 1.3 %

Shares of ISTR stock opened at $17.61 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. Investar Holding Co. has a fifty-two week low of $14.60 and a fifty-two week high of $24.81. The firm has a market capitalization of $173.04 million, a PE ratio of 8.63 and a beta of 0.81. The stock’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $20.31.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. Equities analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current year.

Investar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.105 per share. The ex-dividend date is Monday, March 31st. This represents a $0.42 dividend on an annualized basis and a yield of 2.39%. 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.