Boston Partners Cuts Stock Position in Investar Holding Co. (NASDAQ:ISTR)

Boston Partners decreased its stake in shares of Investar Holding Co. (NASDAQ:ISTR) by 36.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 43,284 shares of the financial services provider’s stock after selling 24,793 shares during the quarter. Boston Partners’ holdings in Investar were worth $951,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Investar by 49.6% in the 3rd quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock worth $3,127,000 after purchasing an additional 53,434 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investar in the third quarter worth about $572,000. Ritholtz Wealth Management grew its holdings in shares of Investar by 51.7% during the fourth quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider’s stock valued at $1,301,000 after buying an additional 20,196 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Investar by 851.5% during the third quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 12,815 shares in the last quarter. Finally, State Street Corp raised its holdings in Investar by 5.6% in the 3rd quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 5,774 shares during the last quarter. 50.17% of the stock is owned by institutional investors.

Investar Trading Up 2.1 %

Shares of ISTR stock opened at $17.73 on Friday. The stock has a market capitalization of $174.21 million, a P/E ratio of 8.69 and a beta of 0.81. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $18.73 and its 200 day moving average is $20.29. Investar Holding Co. has a 12-month low of $14.60 and a 12-month high of $24.81.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. Research analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current year.

Investar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, March 31st. Investar’s payout ratio is currently 20.59%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler began coverage on Investar in a report on Friday, February 21st. They issued a “neutral” rating and a $21.00 target price for the company. StockNews.com raised Investar from a “hold” rating to a “buy” rating in a research report on Thursday.

Investar Profile

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.