Investar Holding Co. (NASDAQ:ISTR) Director Scott G. Ginn Buys 8,475 Shares of Stock

Investar Holding Co. (NASDAQ:ISTR) Director Scott G. Ginn bought 8,475 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $23.68 per share, for a total transaction of $200,688.00. Following the completion of the purchase, the director now owns 8,475 shares in the company, valued at $200,688. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Investar Price Performance

ISTR stock opened at $24.36 on Tuesday. The business’s 50-day moving average is $20.83 and its two-hundred day moving average is $18.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $239.41 million, a P/E ratio of 13.61 and a beta of 0.76. Investar Holding Co. has a 1 year low of $10.34 and a 1 year high of $24.81.

Investar (NASDAQ:ISTR) last issued its earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. Investar had a net margin of 11.35% and a return on equity of 6.94%. The firm had revenue of $40.39 million for the quarter, compared to analysts’ expectations of $20.07 million. Analysts anticipate that Investar Holding Co. will post 1.64 earnings per share for the current fiscal year.

Investar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.105 per share. The ex-dividend date was Monday, September 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Investar’s previous quarterly dividend of $0.10. Investar’s payout ratio is presently 23.46%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Investar from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Institutional Trading of Investar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC increased its holdings in shares of Investar by 36.3% in the 1st quarter. Kennedy Capital Management LLC now owns 214,513 shares of the financial services provider’s stock valued at $3,509,000 after acquiring an additional 57,178 shares during the last quarter. Wellington Management Group LLP increased its stake in Investar by 49.6% in the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock valued at $3,127,000 after purchasing an additional 53,434 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Investar by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider’s stock worth $3,869,000 after purchasing an additional 31,589 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Investar in the 1st quarter valued at $504,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Investar in the 3rd quarter valued at $572,000. 50.17% of the stock is currently owned by institutional investors and hedge funds.

About Investar

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.