Investar Holding Corporation (ISTR) Shares Sold by ELCO Management Co. LLC
ELCO Management Co. LLC decreased its position in Investar Holding Corporation (NASDAQ:ISTR) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,612 shares of the financial services provider’s stock after selling 277 shares during the period. ELCO Management Co. LLC owned about 0.15% of Investar Holding Corporation worth $312,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Penn Capital Management Co. Inc. lifted its position in shares of Investar Holding Corporation by 1.1% during the second quarter. Penn Capital Management Co. Inc. now owns 52,661 shares of the financial services provider’s stock worth $1,206,000 after acquiring an additional 561 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in shares of Investar Holding Corporation by 3.2% during the second quarter. Kennedy Capital Management Inc. now owns 41,696 shares of the financial services provider’s stock worth $955,000 after acquiring an additional 1,289 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Investar Holding Corporation by 1.6% during the first quarter. Vanguard Group Inc. now owns 277,190 shares of the financial services provider’s stock worth $6,070,000 after acquiring an additional 4,300 shares in the last quarter. Nationwide Fund Advisors purchased a new stake in shares of Investar Holding Corporation during the second quarter worth $104,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Investar Holding Corporation during the second quarter worth $202,000. Institutional investors and hedge funds own 61.01% of the company’s stock.
Investar Holding Corporation (NASDAQ ISTR) traded up 0.62% during midday trading on Thursday, hitting $24.15. The company’s stock had a trading volume of 292 shares. The company’s 50 day moving average price is $22.66 and its 200 day moving average price is $22.55. The firm has a market cap of $209.98 million, a P/E ratio of 23.79 and a beta of 0.36. Investar Holding Corporation has a 12 month low of $15.43 and a 12 month high of $24.40.
Investar Holding Corporation (NASDAQ:ISTR) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $9.82 million. Investar Holding Corporation had a return on equity of 5.94% and a net margin of 15.78%. Analysts expect that Investar Holding Corporation will post $1.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 4th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, October 3rd. This is a boost from Investar Holding Corporation’s previous quarterly dividend of $0.02. Investar Holding Corporation’s dividend payout ratio (DPR) is currently 11.65%.
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Several research firms have issued reports on ISTR. Zacks Investment Research upgraded Investar Holding Corporation from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Friday, September 29th. Piper Jaffray Companies restated an “overweight” rating and set a $26.00 target price on shares of Investar Holding Corporation in a research report on Thursday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Investar Holding Corporation in a research report on Thursday, August 10th. Finally, UBS AG downgraded Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Investar Holding Corporation has an average rating of “Buy” and a consensus price target of $26.50.
Investar Holding Corporation Profile
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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