Bank of New York Mellon Corp Sells 3,750 Shares of Investar Holding Co. (NASDAQ:ISTR)

Bank of New York Mellon Corp trimmed its holdings in shares of Investar Holding Co. (NASDAQ:ISTR) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,051 shares of the financial services provider’s stock after selling 3,750 shares during the quarter. Bank of New York Mellon Corp’s holdings in Investar were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Investar by 49.6% during the 3rd quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider’s stock valued at $3,127,000 after buying an additional 53,434 shares in the last quarter. State Street Corp lifted its holdings in shares of Investar by 5.6% in the 3rd quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 5,774 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Investar by 51.7% in the 4th quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 20,196 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Investar by 5.0% in the 4th quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider’s stock valued at $1,189,000 after purchasing an additional 2,599 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investar in the 3rd quarter worth $572,000. 50.17% of the stock is currently owned by institutional investors.

Investar Stock Down 0.9 %

Shares of NASDAQ ISTR opened at $17.78 on Wednesday. The firm’s fifty day moving average is $18.66 and its 200 day moving average is $20.30. Investar Holding Co. has a 52 week low of $14.60 and a 52 week high of $24.81. 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 company has a market cap of $174.71 million, a price-to-earnings ratio of 8.72 and a beta of 0.81.

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, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, equities research analysts expect that Investar Holding Co. will post 1.83 earnings per share for the current year.

Investar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 31st. Investar’s dividend payout ratio (DPR) is currently 20.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ISTR shares. Piper Sandler started coverage on Investar in a research note 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 report on Thursday, March 20th.

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.