Ritholtz Wealth Management Sells 16,440 Shares of Investar Holding Corporation (NASDAQ:ISTR)

Ritholtz Wealth Management decreased its position in shares of Investar Holding Corporation (NASDAQ:ISTR) by 27.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,793 shares of the financial services provider’s stock after selling 16,440 shares during the period. Ritholtz Wealth Management owned approximately 0.44% of Investar worth $754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Investar by 3,194.4% in the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 1,725 shares during the period. Wellington Management Group LLP grew its stake in Investar by 42.0% during the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider’s stock worth $5,026,000 after buying an additional 67,695 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Investar by 32.0% in the 4th quarter. Squarepoint Ops LLC now owns 18,720 shares of the financial services provider’s stock valued at $411,000 after buying an additional 4,534 shares during the period. Millennium Management LLC bought a new position in Investar in the 4th quarter valued at about $651,000. Finally, Bridgeway Capital Management LLC raised its position in shares of Investar by 1.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider’s stock valued at $3,204,000 after buying an additional 2,099 shares in the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

Investar Stock Up 1.4%

ISTR stock opened at $18.26 on Thursday. The firm has a 50-day moving average price of $18.54 and a 200-day moving average price of $19.21. The stock has a market capitalization of $179.68 million, a P/E ratio of 8.34 and a beta of 0.56. Investar Holding Corporation has a 12 month low of $14.60 and a 12 month high of $24.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30.

Investar (NASDAQ:ISTR) last posted its earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.29. The firm had revenue of $20.25 million for the quarter, compared to analysts’ expectations of $19.90 million. Investar had a net margin of 13.99% and a return on equity of 8.60%. As a group, equities research analysts anticipate that Investar Holding Corporation will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Investar from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Piper Sandler upgraded Investar from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $22.00 in a research note on Tuesday, April 22nd.

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.