True North Advisors LLC bought a new position in shares of Investar Holding Corporation (NASDAQ:ISTR – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,060 shares of the financial services provider’s stock, valued at approximately $738,000. True North Advisors LLC owned 0.20% of Investar as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in ISTR. Empowered Funds LLC lifted its stake in shares of Investar by 7.2% in the 1st quarter. Empowered Funds LLC now owns 58,028 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 3,905 shares during the period. Geode Capital Management LLC grew its stake in Investar by 1.2% in the second quarter. Geode Capital Management LLC now owns 230,560 shares of the financial services provider’s stock worth $4,455,000 after purchasing an additional 2,639 shares during the period. Rhumbline Advisers raised its holdings 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 purchasing an additional 1,182 shares in the last quarter. American Century Companies Inc. raised its holdings in Investar by 6.9% in the second quarter. American Century Companies Inc. now owns 58,404 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 3,757 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Investar by 46.9% during the second quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider’s stock valued at $347,000 after buying an additional 5,738 shares during the period. Institutional investors own 50.17% of the company’s stock.
Investar Trading Down 1.1%
NASDAQ ISTR opened at $29.87 on Friday. Investar Holding Corporation has a 12 month low of $20.99 and a 12 month high of $31.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $29.03 and its 200-day moving average price is $28.35. The stock has a market cap of $411.91 million, a P/E ratio of 13.10 and a beta of 0.45.
Investar Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.6%. This is a boost from Investar’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, June 30th. Investar’s dividend payout ratio is presently 21.05%.
Analyst Ratings Changes
A number of brokerages recently issued reports on ISTR. Wall Street Zen raised shares of Investar from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. Zacks Research upgraded shares of Investar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Investar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $31.50 target price on shares of Investar in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $31.50.
View Our Latest Stock Report on ISTR
Investar Company 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.
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