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

Investar Holding Co. (NASDAQ:ISTR) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 176,500 shares, a drop of 21.5% from the October 31st total of 224,700 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 35,000 shares, the short-interest ratio is currently 5.0 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling 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 shares were acquired at an average cost of $23.68 per share, with a total value of $200,688.00. Following the purchase, the director now directly owns 8,475 shares of the company’s stock, valued at $200,688. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.73% of the stock is currently owned by insiders.

Institutional Trading of Investar

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC purchased a new position in shares of Investar during the 3rd quarter worth approximately $57,000. MetLife Investment Management LLC boosted its position in shares of Investar by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,059 shares during the period. Rhumbline Advisers grew its stake in shares of Investar by 2,810.1% in the second quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock valued at $164,000 after buying an additional 10,257 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Investar in the 3rd quarter valued at $272,000. Finally, BNP Paribas Financial Markets lifted its stake in Investar by 851.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 12,815 shares in the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

Investar Trading Down 1.4 %

Investar stock traded down $0.35 during midday trading on Friday, hitting $23.82. 15,866 shares of the stock were exchanged, compared to its average volume of 42,273. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $234.10 million, a price-to-earnings ratio of 13.31 and a beta of 0.76. The stock’s 50-day simple moving average is $21.24 and its 200 day simple moving average is $18.29. Investar has a fifty-two week low of $10.87 and a fifty-two week high of $24.81.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. Investar had a net margin of 11.35% and a return on equity of 6.94%. The firm had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. On average, equities analysts anticipate that Investar will post 1.64 EPS for the current year.

Investar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Investar’s previous quarterly dividend of $0.10. Investar’s dividend payout ratio is 23.46%.

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.