Investar Holding Co. (NASDAQ:ISTR – Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 236,200 shares, a growth of 12.3% from the September 15th total of 210,400 shares. Based on an average trading volume of 54,700 shares, the short-interest ratio is presently 4.3 days. Approximately 2.8% of the company’s shares are sold short.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in Investar by 7.9% in the 1st quarter. Empowered Funds LLC now owns 45,558 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 3,325 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Investar by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 99,326 shares of the financial services provider’s stock valued at $1,625,000 after purchasing an additional 12,412 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Investar during the first quarter worth about $185,000. O Shaughnessy Asset Management LLC bought a new position in shares of Investar during the first quarter worth about $504,000. Finally, Kennedy Capital Management LLC raised its position in 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 buying an additional 57,178 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.
Investar Price Performance
ISTR opened at $20.50 on Thursday. The company has a fifty day simple moving average of $18.35 and a 200 day simple moving average of $16.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The stock has a market cap of $201.49 million, a P/E ratio of 11.45 and a beta of 0.78. Investar has a 12 month low of $9.07 and a 12 month high of $20.95.
Investar Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.105 per share. This is an increase from Investar’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, September 30th. Investar’s dividend payout ratio (DPR) is 23.46%.
Analysts Set New Price Targets
Separately, StockNews.com lowered Investar from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.
Read Our Latest Analysis on ISTR
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.
Featured Articles
- Five stocks we like better than Investar
- ETF Screener: Uses and Step-by-Step Guide
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- 3 Stocks to Consider Buying in October
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- Investing in the High PE Growth Stocks
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
Receive News & Ratings for Investar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investar and related companies with MarketBeat.com's FREE daily email newsletter.