Renaissance Technologies LLC Raises Position in Investar Holding Co. (NASDAQ:ISTR)

Renaissance Technologies LLC boosted its holdings in Investar Holding Co. (NASDAQ:ISTR) by 34.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,075 shares of the financial services provider’s stock after purchasing an additional 7,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.31% of Investar worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Investar in the first quarter worth approximately $504,000. Rhumbline Advisers boosted its holdings in shares of Investar by 2,810.1% in the 2nd quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 10,257 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Investar by 7.9% during the 1st quarter. Empowered Funds LLC now owns 45,558 shares of the financial services provider’s stock valued at $745,000 after buying an additional 3,325 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Investar by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 99,326 shares of the financial services provider’s stock valued at $1,625,000 after buying an additional 12,412 shares during the period. Finally, Bank of New York Mellon Corp increased 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 buying an additional 25,330 shares during the last quarter. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

Investar Stock Up 0.2 %

Shares of Investar stock opened at $19.06 on Friday. Investar Holding Co. has a twelve month low of $9.07 and a twelve month high of $19.96. The stock has a market cap of $187.34 million, a price-to-earnings ratio of 10.65 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a fifty day moving average price of $18.02 and a 200 day moving average price of $16.78.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The firm had revenue of $38.54 million for the quarter, compared to analyst estimates of $19.23 million. Investar had a net margin of 10.04% and a return on equity of 6.69%. Equities research analysts forecast that Investar Holding Co. will post 1.52 earnings per share for the current fiscal year.

Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.105 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Investar’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 2.20%. Investar’s dividend payout ratio is currently 23.46%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Investar from a “buy” rating to a “hold” rating in a report on Monday, August 5th.

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.