Investar Holding Co. (NASDAQ:ISTR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in shares of Investar Holding Co. (NASDAQ:ISTR) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,342 shares of the financial services provider’s stock after selling 57,640 shares during the period. Franklin Resources Inc. owned approximately 1.35% of Investar worth $2,906,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ISTR. New York State Common Retirement Fund raised 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 buying an additional 1,100 shares during the period. Prudential Financial Inc. acquired a new stake in Investar during the fourth quarter worth about $211,000. BNP Paribas Financial Markets raised its holdings in shares of Investar by 851.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 12,815 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Investar by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Investar by 25.0% during the 3rd quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 5,224 shares during the period. Hedge funds and other institutional investors own 50.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ISTR shares. StockNews.com cut shares of Investar from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Piper Sandler started coverage on shares of Investar in a report on Friday, February 21st. They set a “neutral” rating and a $21.00 target price on the stock.

Investar Stock Performance

Investar stock opened at $15.64 on Friday. The firm has a market capitalization of $153.68 million, a PE ratio of 7.67 and a beta of 0.52. Investar Holding Co. has a one year low of $14.60 and a one year high of $24.81. The stock’s 50 day moving average price is $17.86 and its 200 day moving average price is $20.10. 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 (NASDAQ:ISTR) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 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%. As a group, sell-side analysts expect that Investar Holding Co. will post 1.83 EPS for the current fiscal year.

Investar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, March 31st. Investar’s payout ratio is 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.