Investar Holding authorizes repurchase of additional 350,000 shares, citing undervaluation

Investar Holding Corp

Board authorized 350,000 additional shares for repurchase, ~4% of outstanding common stock.
Combined with 248,439 remaining under prior authorization, total remaining ~598,000 shares.
Repurchased 138,275 shares in H1 2023 at avg $14.39; $46.7M spent since 2015 (2.45M shares at avg $19.05).
Company pays $0.10 quarterly dividend (34% CAGR since IPO).
CEO says current price undervalued; repurchase program has no expiration date and may be suspended anytime.

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