Acadian Asset Management LLC Buys New Shares in Investar Holding Co. (NASDAQ:ISTR)

Acadian Asset Management LLC bought a new stake in Investar Holding Co. (NASDAQ:ISTR) in the second quarter, HoldingsChannel reports. The fund bought 21,456 shares of the financial services provider’s stock, valued at approximately $329,000.

A number of other institutional investors have also recently bought and sold shares of ISTR. Rhumbline Advisers raised its holdings in shares of Investar by 2,810.1% in the 2nd quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 10,257 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Investar during the 1st quarter worth about $185,000. Ritholtz Wealth Management increased its position in Investar by 92.3% during the 2nd quarter. Ritholtz Wealth Management now owns 20,670 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 9,921 shares in the last quarter. Boston Partners raised its holdings in Investar by 24.8% in the first quarter. Boston Partners now owns 23,188 shares of the financial services provider’s stock valued at $379,000 after buying an additional 4,614 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in Investar during the first quarter valued at approximately $504,000. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Investar from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Investar Price Performance

Shares of NASDAQ ISTR opened at $19.10 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.98. Investar Holding Co. has a 1-year low of $9.07 and a 1-year high of $19.15. The company has a market capitalization of $187.73 million, a price-to-earnings ratio of 10.67 and a beta of 0.78. The business has a 50-day moving average of $17.72 and a 200-day moving average of $16.48.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $38.54 million for the quarter, compared to analyst estimates of $19.23 million. Investar had a net margin of 10.04% and a return on equity of 6.69%. On average, equities analysts anticipate that Investar Holding Co. will post 1.52 EPS for the current fiscal year.

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.