Insider Buying: Investar Holding Co. (NASDAQ:ISTR) Director Buys 8,475 Shares of Stock

Investar Holding Co. (NASDAQ:ISTR) Director Scott G. Ginn bought 8,475 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $23.68 per share, for a total transaction of $200,688.00. Following the completion of the transaction, the director now directly owns 8,475 shares in the company, valued at approximately $200,688. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Investar Price Performance

Shares of NASDAQ ISTR opened at $24.17 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $237.59 million, a PE ratio of 13.50 and a beta of 0.76. Investar Holding Co. has a one year low of $10.38 and a one year high of $24.81. The firm has a fifty day moving average of $21.06 and a 200 day moving average of $18.20.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. Investar had a net margin of 11.35% and a return on equity of 6.94%. The firm had revenue of $40.39 million during the quarter, compared to the consensus estimate of $20.07 million. As a group, research analysts predict that Investar Holding Co. will post 1.64 EPS for the current fiscal year.

Investar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.105 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Investar’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.74%. Investar’s payout ratio is currently 23.46%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ISTR. Charles Schwab Investment Management Inc. grew its holdings in shares of Investar by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,778 shares of the financial services provider’s stock worth $519,000 after buying an additional 1,706 shares in the last quarter. Empowered Funds LLC boosted its position in Investar by 5.2% during the third quarter. Empowered Funds LLC now owns 51,524 shares of the financial services provider’s stock worth $1,000,000 after acquiring an additional 2,546 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in Investar during the 3rd quarter valued at about $57,000. MetLife Investment Management LLC grew its stake in Investar by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,059 shares in the last quarter. Finally, Boston Partners lifted its stake in Investar by 24.8% in the 1st quarter. Boston Partners now owns 23,188 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 4,614 shares in the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

Investar Company 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.