38,113 Shares in Investar Holding Corporation (ISTR) Acquired by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. bought a new position in shares of Investar Holding Corporation (NASDAQ:ISTR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,113 shares of the financial services provider’s stock, valued at approximately $835,000. Goldman Sachs Group Inc. owned about 0.53% of Investar Holding Corporation as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Investar Holding Corporation during the first quarter worth approximately $462,000. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Investar Holding Corporation by 63.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 257,712 shares of the financial services provider’s stock valued at $5,644,000 after buying an additional 100,000 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Investar Holding Corporation during the first quarter valued at $276,000. Stieven Capital Advisors L.P. purchased a new stake in shares of Investar Holding Corporation during the first quarter valued at $2,190,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Investar Holding Corporation by 52.8% in the first quarter. Alliancebernstein L.P. now owns 132,271 shares of the financial services provider’s stock valued at $2,897,000 after buying an additional 45,732 shares during the last quarter. Institutional investors own 55.15% of the company’s stock.
Shares of Investar Holding Corporation (ISTR) remained flat at $23.00 during midday trading on Tuesday. The company’s stock had a trading volume of 56 shares. Investar Holding Corporation has a 52-week low of $15.10 and a 52-week high of $23.75. The stock has a 50-day moving average price of $22.86 and a 200 day moving average price of $21.93. The company has a market capitalization of $199.76 million, a PE ratio of 22.66 and a beta of 0.32.
Investar Holding Corporation (NASDAQ:ISTR) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.82 million. Investar Holding Corporation had a net margin of 15.78% and a return on equity of 6.25%. On average, equities research analysts expect that Investar Holding Corporation will post $1.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Wednesday, July 5th were given a dividend of $0.022 per share. The ex-dividend date was Friday, June 30th. This is a positive change from Investar Holding Corporation’s previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a yield of 0.38%. Investar Holding Corporation’s payout ratio is 8.74%.
ISTR has been the topic of several recent research reports. Zacks Investment Research cut Investar Holding Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Investar Holding Corporation in a research note on Thursday, August 10th. Finally, UBS AG cut Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Investar Holding Corporation currently has an average rating of “Buy” and an average target price of $22.00.
About Investar Holding Corporation
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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