Investar Holding Co. (NASDAQ:ISTR) Sees Large Decrease in Short Interest

Investar Holding Co. (NASDAQ:ISTR) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 153,000 shares, a drop of 8.7% from the November 30th total of 167,500 shares. Based on an average daily volume of 33,600 shares, the short-interest ratio is currently 4.6 days. Approximately 1.8% of the company’s stock are sold short.

Investar Price Performance

Shares of ISTR stock opened at $21.96 on Wednesday. The stock’s fifty day moving average is $22.73 and its 200-day moving average is $19.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The stock has a market capitalization of $215.82 million, a PE ratio of 12.27 and a beta of 0.79.

Investar (NASDAQ:ISTR) last released its earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Investar had a return on equity of 6.94% and a net margin of 11.35%. The company had revenue of $40.39 million during the quarter, compared to the consensus estimate of $20.07 million. Equities research analysts expect that Investar will post 1.64 EPS for the current fiscal year.

Investar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, December 31st. Investar’s payout ratio is presently 23.46%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Investar from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Insider Activity at Investar

In other Investar news, Director Scott G. Ginn bought 8,475 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of $23.68 per share, with a total value of $200,688.00. Following the completion of the transaction, the director now directly owns 8,475 shares of the company’s stock, valued at approximately $200,688. The trade was a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.73% of the company’s stock.

Institutional Trading of Investar

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Investar by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock valued at $318,000 after buying an additional 5,190 shares during the last quarter. Barclays PLC increased its holdings in shares of Investar by 25.0% in the third quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 5,224 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Investar by 49.6% during the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock worth $3,127,000 after acquiring an additional 53,434 shares during the period. State Street Corp lifted its holdings in shares of Investar by 5.6% during the third quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock worth $2,117,000 after buying an additional 5,774 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Investar by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after buying an additional 3,059 shares in the last quarter. Institutional investors own 50.17% of the company’s stock.

Investar Company Profile

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.