California State Teachers Retirement System lifted its stake in shares of Investar Holding Co. (NASDAQ:ISTR) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,385 shares of the financial services provider’s stock after purchasing an additional 894 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Investar worth $197,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Banc Funds Co. LLC lifted its position in shares of Investar by 2.7% during the third quarter. Banc Funds Co. LLC now owns 757,594 shares of the financial services provider’s stock worth $9,712,000 after purchasing an additional 20,000 shares in the last quarter. EJF Capital LLC lifted its holdings in Investar by 43.8% in the second quarter. EJF Capital LLC now owns 574,800 shares of the financial services provider’s stock valued at $8,335,000 after buying an additional 175,000 shares during the period. Penn Capital Management Co. Inc. lifted its holdings in Investar by 1.3% in the third quarter. Penn Capital Management Co. Inc. now owns 77,997 shares of the financial services provider’s stock valued at $1,000,000 after buying an additional 1,033 shares during the period. Bridgeway Capital Management Inc. acquired a new position in Investar in the second quarter valued at approximately $824,000. Finally, Bank of New York Mellon Corp raised its holdings in Investar by 17.0% in the second quarter. Bank of New York Mellon Corp now owns 45,462 shares of the financial services provider’s stock worth $659,000 after purchasing an additional 6,619 shares during the period. Institutional investors own 54.77% of the company’s stock.
Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Investar from a “sell” rating to a “hold” rating in a report on Wednesday, November 25th. DA Davidson lowered shares of Investar from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $15.50 in a report on Tuesday, September 15th. Finally, Zacks Investment Research downgraded shares of Investar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $14.17.
Investar (NASDAQ:ISTR) last released its earnings results on Thursday, October 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $22.11 million during the quarter, compared to the consensus estimate of $21.00 million. Investar had a net margin of 12.15% and a return on equity of 5.51%. On average, equities research analysts forecast that Investar Holding Co. will post 1.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 31st. Stockholders of record on Monday, December 28th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, December 24th. Investar’s dividend payout ratio (DPR) is presently 14.36%.
Investar Holding Corporation operates as the bank holding company for Investar Bank that provides various commercial banking products to individuals and small to medium-sized businesses in South Louisiana. 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 cards; and mobile banking services.
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