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

Investar Holding Co. (NASDAQ:ISTRGet Rating)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ISTR. Piper Sandler dropped their price objective on Investar to $23.00 in a report on Thursday, September 29th. StockNews.com upgraded Investar from a “hold” rating to a “buy” rating in a report on Wednesday.

Investar Trading Up 0.1 %

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

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

Investar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Monday, January 2nd will be paid a $0.095 dividend. 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

In related news, Director James M. Baker sold 3,730 shares of Investar stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $20.79, for a total value of $77,546.70. Following the completion of the sale, the director now directly owns 7,650 shares in the company, valued at approximately $159,043.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.27% of the stock is owned by company insiders.

Institutional Trading of Investar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fourthstone LLC lifted its stake in Investar by 19.9% during the 1st quarter. Fourthstone LLC now owns 967,273 shares of the financial services provider’s stock valued at $18,465,000 after acquiring an additional 160,309 shares during the period. Dimensional Fund Advisors LP lifted its stake in Investar by 7.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 251,717 shares of the financial services provider’s stock valued at $5,009,000 after acquiring an additional 17,508 shares during the period. Wellington Management Group LLP lifted its stake in Investar by 19.2% during the 1st quarter. Wellington Management Group LLP now owns 189,308 shares of the financial services provider’s stock valued at $3,614,000 after acquiring an additional 30,477 shares during the period. Millennium Management LLC increased its holdings in shares of Investar by 11.2% during the 2nd quarter. Millennium Management LLC now owns 66,346 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 6,696 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Investar by 44.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 40,424 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 12,383 shares in the last quarter. 58.66% of the stock is currently owned by institutional investors and hedge funds.

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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