Investar Holding Co. (NASDAQ:ISTR) Short Interest Up 21.7% in December

Investar Holding Co. (NASDAQ:ISTR) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 186,200 shares, a growth of 21.7% from the December 15th total of 153,000 shares. Based on an average daily volume of 32,300 shares, the short-interest ratio is presently 5.8 days. Approximately 2.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Investar Stock Up 1.8 %

Shares of NASDAQ:ISTR traded up $0.36 during trading hours on Friday, reaching $20.12. The stock had a trading volume of 26,856 shares, compared to its average volume of 30,878. Investar has a 1 year low of $14.60 and a 1 year high of $24.81. The firm’s 50 day moving average is $22.39 and its 200-day moving average is $19.83. The stock has a market capitalization of $197.78 million, a price-to-earnings ratio of 11.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95.

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

Investar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.09%. The ex-dividend date is Tuesday, December 31st. Investar’s payout ratio is 23.46%.

Insider Activity at Investar

In related news, Director Scott G. Ginn acquired 8,475 shares of Investar stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of $23.68 per share, for a total transaction of $200,688.00. Following the completion of the purchase, the director now owns 8,475 shares in the company, valued at approximately $200,688. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On Investar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISTR. Copeland Capital Management LLC purchased a new stake in shares of Investar during the 3rd quarter worth approximately $57,000. MetLife Investment Management LLC raised 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 worth $105,000 after acquiring an additional 3,059 shares in the last quarter. Rhumbline Advisers boosted its stake in Investar by 2,810.1% in the second quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 10,257 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Investar during the third quarter worth about $272,000. Finally, BNP Paribas Financial Markets increased its position in shares of Investar by 851.5% during the third quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 12,815 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.