Fourthstone LLC Makes New Investment in Investar Holding Corporation $ISTR

by · The Cerbat Gem

Fourthstone LLC purchased a new stake in Investar Holding Corporation (NASDAQ:ISTR – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 30,233 shares of the financial services provider’s stock, valued at approximately $584,000.

Several other large investors have also made changes to their positions in ISTR. Hsbc Holdings PLC boosted its stake in Investar by 66.0% during the 1st quarter. Hsbc Holdings PLC now owns 52,310 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 20,794 shares during the period. Rhino Investment Partners Inc lifted its holdings in shares of Investar by 8.0% during the first quarter. Rhino Investment Partners Inc now owns 157,151 shares of the financial services provider’s stock worth $2,767,000 after buying an additional 11,703 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Investar by 19.6% in the second quarter. Acadian Asset Management LLC now owns 110,602 shares of the financial services provider’s stock valued at $2,136,000 after acquiring an additional 18,148 shares during the period. Nuveen LLC acquired a new stake in shares of Investar in the first quarter worth $264,000. Finally, Strs Ohio bought a new position in Investar during the first quarter worth $493,000. Institutional investors and hedge funds own 50.17% of the company’s stock.

Investar Trading Up 1.7%

Shares of ISTR stock opened at $26.84 on Thursday. The firm has a fifty day moving average of $23.88 and a 200-day moving average of $22.31. The stock has a market cap of $263.30 million, a price-to-earnings ratio of 11.98 and a beta of 0.55. Investar Holding Corporation has a 52-week low of $15.39 and a 52-week high of $27.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90.

Investar (NASDAQ:ISTR – Get Free Report) last issued its earnings results on Tuesday, November 1st. The financial services provider reported ($1.06) earnings per share for the quarter. Investar had a net margin of 14.87% and a return on equity of 9.38%. The business had revenue of $25.46 million for the quarter. On average, equities research analysts forecast that Investar Holding Corporation will post 1.83 earnings per share for the current fiscal year.

Investar Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a dividend yield of 190.0%. Investar’s dividend payout ratio is presently 19.64%.

Analyst Upgrades and Downgrades

ISTR has been the subject of a number of research reports. Zacks Research raised shares of Investar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Piper Sandler upped their price objective on shares of Investar to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Investar in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, Investar presently has a consensus rating of “Buy” and an average target price of $29.00.

Check Out Our Latest Stock Analysis on ISTR

About Investar

(Free Report)

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.

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