Investar (NASDAQ:ISTR) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Investar Holding Corporation (NASDAQ:ISTR) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $28.62 and traded as high as $30.09. Investar shares last traded at $29.46, with a volume of 157,708 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ISTR shares. Wall Street Zen raised Investar from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Piper Sandler reissued a “neutral” rating and issued a $31.50 price target on shares of Investar in a report on Thursday, April 23rd. Zacks Research lowered shares of Investar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings raised shares of Investar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Investar currently has a consensus rating of “Hold” and an average target price of $31.50.

Investar Stock Performance

The firm has a market cap of $406.25 million, a PE ratio of 12.92 and a beta of 0.46. The company has a 50 day simple moving average of $28.62 and a 200-day simple moving average of $28.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Monday, April 20th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. The firm had revenue of $35.64 million for the quarter, compared to the consensus estimate of $36.40 million. Investar had a net margin of 16.53% and a return on equity of 10.62%. As a group, equities research analysts anticipate that Investar Holding Corporation will post 3.1 EPS for the current year.

Investar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. This is an increase from Investar’s previous quarterly dividend of $0.11. Investar’s payout ratio is 19.30%.

Institutional Trading of Investar

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of Investar by 9.7% during the first quarter. Empowered Funds LLC now owns 64,701 shares of the financial services provider’s stock valued at $1,764,000 after buying an additional 5,746 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Investar by 114.0% in the first quarter. Renaissance Technologies LLC now owns 105,250 shares of the financial services provider’s stock worth $2,870,000 after buying an additional 56,075 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Investar by 50.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 163,271 shares of the financial services provider’s stock valued at $4,452,000 after acquiring an additional 54,447 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Investar by 92.0% in the 1st quarter. Sei Investments Co. now owns 65,281 shares of the financial services provider’s stock valued at $1,780,000 after acquiring an additional 31,272 shares during the last quarter. Finally, AlTi Global Inc. purchased a new stake in Investar during the 1st quarter valued at about $2,370,000. 50.17% of the stock is owned by institutional investors.

About Investar

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.