Investar Holding Corporation Rejoins Russell 3000(R) Index

Rhea-AI Summary

On July 1, 2024, Investar Holding (Nasdaq: ISTR) rejoined the Russell 3000® Index, as announced by the company. This inclusion follows the annual reconstitution of the Russell U.S. Indexes, which ranks the 4,000 largest U.S. stocks by market capitalization as of April 30th. Membership in the Russell 3000® Index also entails automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, as well as the relevant growth and value style indexes.

John D'Angelo, President, and CEO of Investar, noted that rejoining the index will enhance stock liquidity and boost the company's visibility among investment managers and institutional investors. As of December 2023, approximately $10.5 trillion in assets are benchmarked against the Russell U.S. indexes, which are managed by FTSE Russell, a global index provider.

Positive

• Investar Holding rejoined the Russell 3000® Index, enhancing its market visibility.
• Inclusion in the Russell 3000® Index may increase stock liquidity and attract institutional investors.
• Approximately $10.5 trillion in assets are benchmarked against the Russell U.S. indexes, indicating significant market influence.

Negative

• None.

BATON ROUGE, LA / ACCESSWIRE / July 1, 2024 / Investar Holding Corporation ("Investar") (Nasdaq:ISTR), the holding company of Investar Bank, National Association (the "Bank"), announced that it has rejoined the broad-market Russell 3000^® Index, effective at the open of U.S. equity markets on Monday, July 1^st, as part of the 2024 Russell U.S. Indexes annual reconstitution.

The Russell U.S. Indexes annual reconstitution captures the 4,000 largest U.S. stocks as of the end of Tuesday, April 30^th, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Investar's President and Chief Executive Officer John D'Angelo commented:

"We are honored to rejoin the Russell 3000^® Index alongside some of the top performing companies in the U.S. This notable designation demonstrates our commitment to long-term shareholder value and the continued execution of our strategic plans. We believe our inclusion will increase liquidity in our stock and drive greater awareness of Investar as an attractive investment to investment managers and institutional investors."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, approximately $10.5 trillion in assets are benchmarked against the Russell U.S. indexes, which belong to FTSE Russell, a prominent global index provider.

For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

About Investar Holding Corporation

Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association. The Bank currently operates 28 branch locations serving Louisiana, Texas, and Alabama. At March 31, 2024, the Bank had 323 full-time equivalent employees and total assets of $2.8 billion.

Forward-Looking Statements

This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Investar website at www.investarbank.com.

We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.

Contact:

Investar Holding Corporation
John R. Campbell
Executive Vice President and Chief Financial Officer
(225) 227-2215
John.Campbell@investarbank.com

SOURCE: Investar Holding Corporation

View the original press release on accesswire.com

FAQ

When did Investar Holding rejoin the Russell 3000® Index?

Investar Holding rejoined the Russell 3000® Index on July 1, 2024.

What is the stock symbol for Investar Holding ?

The stock symbol for Investar Holding is ISTR.

What is the significance of Investar Holding rejoining the Russell 3000® Index?

Rejoining the Russell 3000® Index enhances Investar's market visibility and may increase liquidity and attract institutional investors.

How are stocks selected for the Russell 3000® Index?

Stocks are selected for the Russell 3000® Index based on market capitalization rankings as of April 30th each year.

What impact does inclusion in the Russell 3000® Index have on Investar Holding ?

Inclusion in the Russell 3000® Index can increase visibility, liquidity, and attractiveness to institutional investors for Investar Holding

How much in assets is benchmarked against the Russell U.S. indexes?

Approximately $10.5 trillion in assets are benchmarked against the Russell U.S. indexes.