TIAA CREF Investment Management LLC bought a new stake in shares of Investar Holding Corp (NASDAQ:ISTR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,600 shares of the financial services provider’s stock, valued at approximately $495,000. TIAA CREF Investment Management LLC owned approximately 0.25% of Investar as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Investar during the first quarter valued at $684,000. Stieven Capital Advisors L.P. lifted its position in Investar by 18.4% during the second quarter. Stieven Capital Advisors L.P. now owns 118,400 shares of the financial services provider’s stock valued at $2,711,000 after purchasing an additional 18,400 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Investar in the first quarter valued at about $835,000. Teachers Advisors LLC purchased a new position in shares of Investar in the second quarter valued at about $328,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Investar in the second quarter valued at about $319,000. Institutional investors own 61.58% of the company’s stock.
Shares of Investar Holding Corp (NASDAQ ISTR) traded down $0.05 during trading on Monday, hitting $23.50. The stock had a trading volume of 8,784 shares, compared to its average volume of 20,892. Investar Holding Corp has a fifty-two week low of $17.95 and a fifty-two week high of $24.40. The stock has a market capitalization of $205.33, a P/E ratio of 22.43 and a beta of 0.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18.
Several brokerages have recently commented on ISTR. Zacks Investment Research downgraded Investar from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies restated an “overweight” rating and issued a $26.00 price objective on shares of Investar in a research report on Thursday, October 5th. Raymond James Financial restated a “market perform” rating on shares of Investar in a research report on Thursday, August 10th. Finally, UBS downgraded Investar from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.50.
In related news, CFO Christopher L. Hufft sold 2,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $23.15, for a total value of $57,875.00. Following the sale, the chief financial officer now directly owns 23,356 shares in the company, valued at $540,691.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 1,045 shares of company stock worth $24,282 over the last quarter. 8.83% of the stock is owned by company insiders.
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Investar Company Profile
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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