66,586 Shares in Investar Holding Corporation $ISTR Acquired by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC purchased a new position in Investar Holding Corporation (NASDAQ:ISTR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,586 shares of the financial services provider’s stock, valued at approximately $1,816,000. Glass Wealth Management Co LLC owned approximately 0.48% of Investar as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Investar by 7.2% during the 1st quarter. Empowered Funds LLC now owns 58,028 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 3,905 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Investar by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 230,560 shares of the financial services provider’s stock worth $4,455,000 after acquiring an additional 2,639 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Investar by 12.8% during the second quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock valued at $202,000 after buying an additional 1,182 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Investar by 6.9% during the second quarter. American Century Companies Inc. now owns 58,404 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 3,757 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Investar by 46.9% in the 2nd quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider’s stock valued at $347,000 after buying an additional 5,738 shares during the period. 50.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ISTR shares. Wall Street Zen raised shares of Investar from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. Piper Sandler reiterated a “neutral” rating and issued a $31.50 price objective on shares of Investar in a research note on Thursday, April 23rd. Weiss Ratings raised Investar from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Finally, Zacks Research raised shares of Investar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $31.50.

Investar Trading Up 2.0%

Shares of NASDAQ ISTR traded up $0.58 during trading on Friday, reaching $29.55. The stock had a trading volume of 325,491 shares, compared to its average volume of 215,204. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $407.49 million, a P/E ratio of 12.96 and a beta of 0.45. The business’s 50-day moving average price is $28.89 and its 200-day moving average price is $28.27. Investar Holding Corporation has a fifty-two week low of $20.99 and a fifty-two week high of $31.77.

Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.18. Investar had a return on equity of 10.62% and a net margin of 16.53%.The business had revenue of $35.64 million during the quarter, compared to the consensus estimate of $36.40 million. On average, equities research analysts predict that Investar Holding Corporation will post 3.1 EPS for the current fiscal year.

Investar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Investar’s previous quarterly dividend of $0.11. Investar’s payout ratio is 21.05%.

Investar Company Profile

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.