Short Interest in Investar Holding Corporation (NASDAQ:ISTR) Rises By 35.6%
by Sarita Garza · The Markets DailyInvestar Holding Corporation (NASDAQ:ISTR – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 200,957 shares, an increase of 35.6% from the February 26th total of 148,181 shares. Based on an average daily trading volume, of 104,582 shares, the short-interest ratio is currently 1.9 days. Approximately 1.6% of the company’s stock are sold short.
Insider Buying and Selling at Investar
In other news, CEO John J. D’angelo sold 26,163 shares of Investar stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $28.01, for a total transaction of $732,825.63. Following the completion of the transaction, the chief executive officer directly owned 242,750 shares in the company, valued at $6,799,427.50. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.81% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,363 shares during the last quarter. CWM LLC lifted its stake in Investar by 19.5% in the third quarter. CWM LLC now owns 3,058 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 499 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Investar by 69.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Financial Markets increased its position in Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider’s stock worth $78,000 after buying an additional 666 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Investar by 12.8% in the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock worth $202,000 after buying an additional 1,182 shares during the last quarter. 50.17% of the stock is owned by institutional investors.
Investar Stock Performance
Shares of ISTR traded up $0.06 on Monday, reaching $26.88. 67,274 shares of the company’s stock traded hands, compared to its average volume of 118,887. The stock’s 50 day simple moving average is $28.24 and its two-hundred day simple moving average is $25.97. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Investar has a 52-week low of $15.39 and a 52-week high of $31.77. The stock has a market cap of $369.60 million, a PE ratio of 12.56 and a beta of 0.52.
Investar (NASDAQ:ISTR – Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $23.93 million during the quarter, compared to the consensus estimate of $37.35 million. Investar had a return on equity of 9.20% and a net margin of 14.92%. On average, analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.
Investar Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.44 annualized dividend and a yield of 1.6%. Investar’s payout ratio is currently 20.56%.
Analyst Ratings Changes
A number of research firms have issued reports on ISTR. Zacks Research downgraded Investar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings downgraded Investar from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.00.
Read Our Latest Report on ISTR
About Investar
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.