Penn Capital Management Co. Inc. grew its position in shares of Investar Holding Corp (NASDAQ:ISTR) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 62,703 shares of the financial services provider’s stock after acquiring an additional 2,016 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Investar were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Investar by 1,138.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,883 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,731 shares in the last quarter. Ramsey Quantitative Systems increased its stake in shares of Investar by 65.4% in the 4th quarter. Ramsey Quantitative Systems now owns 3,166 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,252 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Investar in the 4th quarter worth $82,000. MetLife Investment Advisors LLC purchased a new stake in shares of Investar in the 4th quarter worth $112,000. Finally, Bank of America Corp DE increased its stake in shares of Investar by 82.5% in the 4th quarter. Bank of America Corp DE now owns 5,759 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 2,603 shares in the last quarter. 54.52% of the stock is currently owned by hedge funds and other institutional investors.
In other Investar news, Director Robert Chris Jordan purchased 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $23.50 per share, for a total transaction of $117,500.00. Following the purchase, the director now owns 34,858 shares of the company’s stock, valued at approximately $819,163. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 6,149 shares of company stock valued at $144,324 in the last quarter. 9.64% of the stock is currently owned by company insiders.
Investar (NASDAQ:ISTR) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Investar had a return on equity of 9.03% and a net margin of 18.46%. The business had revenue of $16.44 million during the quarter, compared to analyst estimates of $16.42 million. Analysts expect that Investar Holding Corp will post 1.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 8th were paid a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, April 5th. This is a positive change from Investar’s previous quarterly dividend of $0.05. Investar’s dividend payout ratio is presently 12.80%.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Investar from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. ValuEngine lowered Investar from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, FIG Partners restated an “outperform” rating on shares of Investar in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.33.
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Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for 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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