Steel Grove Capital Advisors LLC Has $805,000 Position in Investar Holding Corporation (NASDAQ:ISTR)

Steel Grove Capital Advisors LLC trimmed its stake in shares of Investar Holding Corporation (NASDAQ:ISTR) by 11.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,735 shares of the financial services provider’s stock after selling 5,982 shares during the quarter. Steel Grove Capital Advisors LLC owned approximately 0.47% of Investar worth $805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund increased its holdings in shares of Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,100 shares in the last quarter. Wells Fargo & Company MN grew its position in Investar by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 2,688 shares during the last quarter. Prudential Financial Inc. acquired a new position in Investar in the 4th quarter worth about $211,000. GAMMA Investing LLC raised its position in Investar by 3,194.4% in the first quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 1,725 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Investar by 12.7% in the fourth quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 1,817 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler upgraded shares of Investar from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $22.00 in a report on Tuesday, April 22nd. Wall Street Zen lowered Investar from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th.

Investar Price Performance

Shares of ISTR opened at $18.26 on Thursday. The business has a 50-day moving average of $18.54 and a 200-day moving average of $19.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $179.68 million, a price-to-earnings ratio of 8.34 and a beta of 0.56. Investar Holding Corporation has a 1 year low of $14.60 and a 1 year high of $24.81.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.29. The firm had revenue of $20.25 million during the quarter, compared to analyst estimates of $19.90 million. Investar had a net margin of 13.99% and a return on equity of 8.60%. As a group, equities research analysts anticipate that Investar Holding Corporation will post 1.83 earnings per share for the current year.

Investar 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.