Black Maple Capital Management LP Has $308,000 Stock Position in Investar Holding Corporation $ISTR

Black Maple Capital Management LP lowered its stake in shares of Investar Holding Corporation (NASDAQ:ISTR) by 67.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,965 shares of the financial services provider’s stock after selling 32,582 shares during the quarter. Black Maple Capital Management LP owned about 0.16% of Investar worth $308,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Copeland Capital Management LLC grew its position in Investar by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 3,492 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 491 shares during the last quarter. Rhumbline Advisers raised its position in shares of Investar by 12.8% during the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock valued at $202,000 after buying an additional 1,182 shares during the last quarter. LSV Asset Management lifted its stake in shares of Investar by 258.8% in the second quarter. LSV Asset Management now owns 12,200 shares of the financial services provider’s stock valued at $236,000 after buying an additional 8,800 shares during the period. Savant Capital LLC grew its position in Investar by 6.2% during the second quarter. Savant Capital LLC now owns 13,247 shares of the financial services provider’s stock worth $256,000 after buying an additional 776 shares in the last quarter. Finally, Nuveen LLC bought a new position in Investar during the first quarter valued at about $264,000. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Investar Stock Up 0.1%

Shares of NASDAQ:ISTR opened at $27.18 on Friday. The company’s fifty day moving average is $24.05 and its 200-day moving average is $22.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90. Investar Holding Corporation has a 52 week low of $15.39 and a 52 week high of $27.42. The company has a market capitalization of $266.64 million, a PE ratio of 12.13 and a beta of 0.55.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Tuesday, November 1st. The financial services provider reported ($1.06) earnings per share (EPS) for the quarter. The firm had revenue of $25.46 million for the quarter. Investar had a net margin of 14.87% and a return on equity of 9.38%. Equities research analysts predict 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 dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were issued a $0.11 dividend. This represents a dividend yield of 190.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Investar’s payout ratio is presently 19.64%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their target price on Investar to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Investar in a report on Monday. Finally, Zacks Research upgraded shares of Investar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Investar has an average rating of “Buy” and an average price target of $29.00.

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.