Janney Montgomery Scott LLC Decreases Stake in Investar Holding Co. (NASDAQ:ISTR)

Janney Montgomery Scott LLC cut its position in Investar Holding Co. (NASDAQ:ISTR) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 30,715 shares of the financial services provider’s stock after selling 1,033 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Investar were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its position in shares of Investar by 25.0% during the 3rd quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 5,224 shares in the last quarter. State Street Corp boosted its holdings in Investar by 5.6% in the third quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock valued at $2,117,000 after purchasing an additional 5,774 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investar in the third quarter valued at approximately $572,000. Wellington Management Group LLP raised its holdings in Investar by 49.6% during 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Investar by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock worth $318,000 after buying an additional 5,190 shares during the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Investar Stock Performance

Shares of ISTR stock opened at $19.45 on Friday. The stock’s 50-day moving average price is $21.19 and its 200 day moving average price is $20.13. 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 stock has a market capitalization of $191.19 million, a PE ratio of 9.53 and a beta of 0.79. Investar Holding Co. has a 52-week low of $14.60 and a 52-week high of $24.81.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. As a group, equities research analysts forecast that Investar Holding Co. will post 1.83 EPS for the current year.

Investar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.105 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.16%. Investar’s dividend payout ratio (DPR) is presently 20.59%.

Insiders Place Their Bets

In other news, Director Scott G. Ginn acquired 8,475 shares of Investar stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $23.68 per share, with a total value of $200,688.00. Following the completion of the acquisition, the director now owns 8,475 shares in the company, valued at $200,688. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.73% of the company’s stock.

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.