Investar (NASDAQ:ISTR) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Investar Holding Corporation (NASDAQ:ISTR) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $28.09 and traded as high as $29.00. Investar shares last traded at $28.50, with a volume of 70,000 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Investar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Investar in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $29.00.

Investar Stock Down 0.9%

The firm’s 50 day moving average is $28.09 and its 200-day moving average is $25.20. The firm has a market cap of $279.59 million, a PE ratio of 13.32 and a beta of 0.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.29.

Investar (NASDAQ:ISTR) last released its earnings results on Monday, January 26th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Investar had a net margin of 14.92% and a return on equity of 9.31%. The firm had revenue of $23.93 million during the quarter, compared to analysts’ expectations of $37.35 million. As a group, equities research analysts expect that Investar Holding Corporation will post 1.83 earnings per share for the current fiscal year.

Investar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, December 31st. Investar’s dividend payout ratio is presently 20.56%.

Insider Transactions at Investar

In other Investar news, CEO John J. D’angelo sold 26,163 shares of Investar stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $28.01, for a total value of $732,825.63. Following the completion of the sale, the chief executive officer owned 242,750 shares in the company, valued at $6,799,427.50. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Investar

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased 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 worth $56,000 after purchasing an additional 2,363 shares during the last quarter. CWM LLC increased its holdings in shares of Investar by 19.5% during the 3rd quarter. CWM LLC now owns 3,058 shares of the financial services provider’s stock worth $71,000 after buying an additional 499 shares during the last quarter. Public Employees Retirement System of Ohio raised its position 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 worth $72,000 after buying an additional 1,100 shares during the period. BNP Paribas Financial Markets boosted its holdings in Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 666 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Investar by 12.8% in the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 1,182 shares during the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

Investar Company Profile

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.