Wells Fargo & Company MN decreased its holdings in shares of Investar Holding Co. (NASDAQ:ISTR) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,777 shares of the financial services provider’s stock after selling 1,756 shares during the period. Wells Fargo & Company MN owned approximately 0.22% of Investar worth $393,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Strs Ohio lifted its position in shares of Investar by 162.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,300 shares during the period. California State Teachers Retirement System lifted its stake in Investar by 6.2% in the 3rd quarter. California State Teachers Retirement System now owns 15,385 shares of the financial services provider’s stock valued at $197,000 after buying an additional 894 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Investar during the 4th quarter valued at $1,672,000. Finally, BlackRock Inc. raised its holdings in shares of Investar by 2.0% in the fourth quarter. BlackRock Inc. now owns 593,394 shares of the financial services provider’s stock worth $9,815,000 after acquiring an additional 11,661 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.
ISTR has been the subject of several recent analyst reports. Piper Sandler raised shares of Investar from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $22.00 in a research note on Thursday, January 28th. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, February 3rd.
Investar (NASDAQ:ISTR) last released its quarterly earnings results on Sunday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.06. The firm had revenue of $22.83 million for the quarter, compared to the consensus estimate of $21.30 million. Investar had a net margin of 12.15% and a return on equity of 5.51%. Equities analysts anticipate that Investar Holding Co. will post 1.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Monday, March 29th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, March 26th. This is an increase from Investar’s previous quarterly dividend of $0.07. Investar’s payout ratio is currently 15.47%.
Investar Holding Corporation operates as the bank holding company for Investar Bank that provides various commercial banking products to individuals and small to medium-sized businesses in South Louisiana. 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 cards; and mobile banking services.
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