Geode Capital Management LLC Has $4.31 Million Stake in Investar Holding Co. (NASDAQ:ISTR)

Geode Capital Management LLC lifted its holdings in Investar Holding Co. (NASDAQ:ISTR) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,054 shares of the financial services provider’s stock after purchasing an additional 530 shares during the period. Geode Capital Management LLC owned 2.26% of Investar worth $4,308,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Investar by 49.6% during the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock valued at $3,127,000 after acquiring an additional 53,434 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Investar by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider’s stock worth $3,869,000 after acquiring an additional 31,589 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Investar during the third quarter valued at about $572,000. Bank of New York Mellon Corp grew its holdings in shares of Investar by 111.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 25,330 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Investar in the second quarter valued at about $329,000. 50.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Investar

In related news, Director Scott G. Ginn purchased 8,475 shares of Investar stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $23.68 per share, for a total transaction of $200,688.00. Following the completion of the acquisition, the director now directly owns 8,475 shares of the company’s stock, valued at $200,688. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.73% of the stock is currently owned by corporate insiders.

Investar Price Performance

NASDAQ:ISTR opened at $21.23 on Monday. The company’s 50-day moving average price is $22.78 and its two-hundred day moving average price is $19.53. Investar Holding Co. has a 12 month low of $14.60 and a 12 month high of $24.81. The firm has a market cap of $208.65 million, a PE ratio of 11.86 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last announced 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. The company had revenue of $40.39 million during the quarter, compared to the consensus estimate of $20.07 million. Investar had a net margin of 11.35% and a return on equity of 6.94%. On average, equities analysts anticipate that Investar Holding Co. will post 1.64 EPS for the current fiscal year.

Investar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.105 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. Investar’s dividend payout ratio (DPR) is presently 23.46%.

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.