Investar (NASDAQ:ISTR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a report published on Friday morning.

Separately, Piper Sandler started coverage on shares of Investar in a research report on Friday. They set a “neutral” rating and a $21.00 price target on the stock.

Investar Trading Down 2.2 %

ISTR stock opened at $18.56 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm has a market cap of $182.44 million, a P/E ratio of 9.10 and a beta of 0.79. Investar has a 1-year low of $14.60 and a 1-year high of $24.81. The business’s 50 day moving average is $20.33 and its 200-day moving average is $20.21.

Investar (NASDAQ:ISTR) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. Equities analysts anticipate that Investar will post 1.83 earnings per share for the current fiscal year.

Investar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.105 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.26%. Investar’s dividend payout ratio (DPR) is presently 20.59%.

Hedge Funds Weigh In On Investar

Several institutional investors have recently modified their holdings of ISTR. New York State Common Retirement Fund boosted its stake in Investar by 100.0% during the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,100 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Investar by 8.0% in the fourth quarter. Ameriprise Financial Inc. now owns 17,455 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,300 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Investar by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,778 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 1,706 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Investar by 12.7% in the 4th quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider’s stock valued at $354,000 after buying an additional 1,817 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of Investar by 1.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider’s stock valued at $3,204,000 after buying an additional 2,099 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

About Investar

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.