AlTi Global Inc. Makes New $2.37 Million Investment in Investar Holding Corporation $ISTR

AlTi Global Inc. purchased a new position in shares of Investar Holding Corporation (NASDAQ:ISTR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 86,568 shares of the financial services provider’s stock, valued at approximately $2,370,000. AlTi Global Inc. owned approximately 0.63% of Investar at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Investar by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 437,405 shares of the financial services provider’s stock valued at $11,928,000 after purchasing an additional 26,842 shares in the last quarter. True North Advisors LLC acquired a new stake in shares of Investar in the 1st quarter valued at $738,000. Bank of New York Mellon Corp raised its position in shares of Investar by 240.9% during the first quarter. Bank of New York Mellon Corp now owns 123,244 shares of the financial services provider’s stock worth $3,361,000 after acquiring an additional 87,095 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Investar during the first quarter worth $321,000. Finally, Glass Wealth Management Co LLC acquired a new position in shares of Investar during the first quarter valued at $1,816,000. Institutional investors own 50.17% of the company’s stock.

Investar Trading Down 0.9%

ISTR opened at $29.59 on Tuesday. The stock has a market cap of $408.05 million, a PE ratio of 12.98 and a beta of 0.45. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. Investar Holding Corporation has a twelve month low of $20.99 and a twelve month high of $31.77. The company has a fifty day moving average of $29.07 and a 200-day moving average of $28.38.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Monday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.35 million. Investar had a return on equity of 10.62% and a net margin of 16.53%. On average, sell-side analysts predict that Investar Holding Corporation will post 3.1 EPS for the current year.

Investar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Investar’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. Investar’s payout ratio is currently 21.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $31.50 price objective on shares of Investar in a report on Thursday, April 23rd. Wall Street Zen upgraded shares of Investar from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Zacks Research raised shares of Investar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded Investar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $31.50.

Investar Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.