Renaissance Technologies LLC lifted its stake in shares of Investar Holding Corporation (NASDAQ:ISTR – Free Report) by 114.0% in the first quarter, Holdings Channel reports. The institutional investor owned 105,250 shares of the financial services provider’s stock after buying an additional 56,075 shares during the quarter. Renaissance Technologies LLC’s holdings in Investar were worth $2,870,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Investar by 12.6% during the 4th quarter. CWM LLC now owns 3,442 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 384 shares during the last quarter. Steel Grove Capital Advisors LLC grew its holdings in Investar by 1.0% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 46,434 shares of the financial services provider’s stock worth $1,241,000 after acquiring an additional 443 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Investar by 24.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 666 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Investar by 0.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 139,156 shares of the financial services provider’s stock worth $2,688,000 after purchasing an additional 763 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Investar by 69.1% in the 4th 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 in the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.
Investar Stock Performance
Shares of ISTR stock opened at $30.06 on Monday. The company has a market cap of $414.65 million, a P/E ratio of 12.37 and a beta of 0.45. The business has a 50 day moving average of $29.58 and a two-hundred day moving average of $28.68. Investar Holding Corporation has a 52 week low of $21.35 and a 52 week high of $31.77. 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 Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. This is a positive change from Investar’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, June 30th. Investar’s dividend payout ratio is presently 19.75%.
Analysts Set New Price Targets
ISTR has been the topic of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $31.50 price target on shares of Investar in a research report on Thursday, April 23rd. Zacks Research raised Investar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Investar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised Investar from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.50.
Check Out Our Latest Research Report on Investar
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.
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