Mendon Capital Advisors Corp trimmed its position in Investar Holding Corp (NASDAQ:ISTR) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,652 shares of the financial services provider’s stock after selling 17,839 shares during the period. Investar makes up about 0.9% of Mendon Capital Advisors Corp’s portfolio, making the stock its 28th largest holding. Mendon Capital Advisors Corp owned 2.42% of Investar worth $5,787,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ISTR. BNP Paribas Arbitrage SA lifted its position in Investar by 1,138.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,883 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,731 shares during the period. Bank of America Corp DE lifted its position in Investar by 82.5% in the fourth quarter. Bank of America Corp DE now owns 5,759 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 2,603 shares during the period. Acadian Asset Management LLC lifted its position in Investar by 434.6% in the second quarter. Acadian Asset Management LLC now owns 11,136 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 9,053 shares during the period. Investment House LLC acquired a new stake in Investar in the second quarter worth approximately $306,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Investar by 33.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,322 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 3,801 shares during the last quarter. Hedge funds and other institutional investors own 53.79% of the company’s stock.
Shares of NASDAQ:ISTR traded up $0.25 on Friday, reaching $23.88. 95 shares of the company traded hands, compared to its average volume of 9,731. Investar Holding Corp has a fifty-two week low of $19.49 and a fifty-two week high of $27.84. The company’s 50 day moving average is $23.28 and its 200-day moving average is $23.38. The stock has a market capitalization of $231.91 million, a PE ratio of 14.38 and a beta of 0.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.02 and a quick ratio of 1.02.
Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Investar had a return on equity of 9.25% and a net margin of 18.69%. The company had revenue of $18.07 million during the quarter, compared to the consensus estimate of $17.54 million. As a group, analysts expect that Investar Holding Corp will post 1.93 EPS for the current year.
A number of equities research analysts have recently commented on the company. DA Davidson reiterated a “buy” rating on shares of Investar in a research report on Monday, July 22nd. Raymond James upgraded Investar from a “market perform” rating to an “outperform” rating in a research report on Monday, July 8th. ValuEngine downgraded Investar from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, Zacks Investment Research downgraded Investar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.33.
In other Investar news, EVP Ryan P. Finnan sold 1,500 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $23.37, for a total transaction of $35,055.00. Following the transaction, the executive vice president now directly owns 16,769 shares of the company’s stock, valued at $391,891.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John J. D’angelo sold 4,671 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $23.50, for a total transaction of $109,768.50. Following the transaction, the chief executive officer now directly owns 158,563 shares in the company, valued at $3,726,230.50. The disclosure for this sale can be found here. Insiders sold 6,857 shares of company stock valued at $160,602 in the last 90 days. Corporate insiders own 9.64% of the company’s stock.
Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. 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 cards; and mobile banking services.
See Also: FAANG Stocks
Want to see what other hedge funds are holding ISTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investar Holding Corp (NASDAQ:ISTR).
Receive News & Ratings for Investar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investar and related companies with MarketBeat.com's FREE daily email newsletter.