Glass Wealth Management Co LLC Takes Position in Investar Holding Corporation $ISTR

Glass Wealth Management Co LLC acquired a new position in shares of Investar Holding Corporation (NASDAQ:ISTR) in the first quarter, HoldingsChannel reports. The firm acquired 66,586 shares of the financial services provider’s stock, valued at approximately $1,816,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Investar by 69.1% in 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 last quarter. Tower Research Capital LLC TRC lifted its position in Investar by 440.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock valued at $56,000 after buying an additional 2,363 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Investar by 24.9% during 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 period. CWM LLC boosted its position in shares of Investar by 12.6% in the fourth quarter. CWM LLC now owns 3,442 shares of the financial services provider’s stock worth $92,000 after buying an additional 384 shares during the period. Finally, ELCO Management Co. LLC purchased a new position in Investar in the 4th quarter worth approximately $215,000. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Stock Up 2.0%

NASDAQ ISTR traded up $0.58 on Friday, reaching $29.55. The stock had a trading volume of 325,491 shares, compared to its average volume of 215,204. The business has a 50 day moving average price of $28.89 and a 200 day moving average price of $28.27. Investar Holding Corporation has a 1 year low of $20.99 and a 1 year high of $31.77. The company has a market capitalization of $407.49 million, a price-to-earnings ratio of 12.96 and a beta of 0.45. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.

Investar (NASDAQ:ISTR) last posted its earnings results on Monday, April 20th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. Investar had a net margin of 16.53% and a return on equity of 10.62%. The firm had revenue of $35.64 million for the quarter, compared to the consensus estimate of $36.40 million. On average, analysts forecast that Investar Holding Corporation will post 3.1 EPS for the current fiscal year.

Investar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Investar’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. Investar’s dividend payout ratio (DPR) is 21.05%.

Analyst Ratings Changes

ISTR has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Investar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Piper Sandler reiterated a “neutral” rating and set a $31.50 price target on shares of Investar in a research report on Thursday, April 23rd. Zacks Research upgraded shares of Investar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Investar from a “hold” rating to a “buy” rating in a research 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 given a Hold rating to the company’s stock. According to data from MarketBeat, Investar currently has an average rating of “Buy” and a consensus price target of $31.50.

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.