O Shaughnessy Asset Management LLC Acquires 27,254 Shares of Investar Holding Co. (NASDAQ:ISTR)

O Shaughnessy Asset Management LLC raised its holdings in Investar Holding Co. (NASDAQ:ISTR) by 38.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,293 shares of the financial services provider’s stock after acquiring an additional 27,254 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 1.00% of Investar worth $2,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Investar by 49.6% in the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock worth $3,127,000 after purchasing an additional 53,434 shares during the last quarter. Ritholtz Wealth Management grew its stake in Investar by 51.7% in the 4th quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 20,196 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Investar by 851.5% during the third 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Investar by 42.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,926 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 12,445 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Investar in the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 50.17% of the company’s stock.

Investar Stock Performance

Shares of ISTR stock opened at $16.60 on Friday. The company’s 50 day moving average is $18.27 and its 200 day moving average is $20.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm has a market cap of $163.11 million, a price-to-earnings ratio of 8.14 and a beta of 0.81. Investar Holding Co. has a 52-week low of $14.60 and a 52-week high of $24.81.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. On average, sell-side analysts anticipate that Investar Holding Co. will post 1.83 EPS for the current fiscal year.

Investar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, March 31st. Investar’s dividend payout ratio is currently 20.59%.

Wall Street Analyst Weigh In

Several research firms have commented on ISTR. Piper Sandler began coverage on Investar in a report on Friday, February 21st. They set a “neutral” rating and a $21.00 price objective on the stock. StockNews.com upgraded Investar from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

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.