Investar (NASDAQ:ISTR) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Separately, Piper Sandler assumed coverage on shares of Investar in a research report on Friday, February 21st. They issued a “neutral” rating and a $21.00 target price for the company.

Investar Trading Down 1.3 %

ISTR opened at $17.61 on Friday. Investar has a one year low of $14.60 and a one year high of $24.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $18.49 and a two-hundred day simple moving average of $20.31. The firm has a market capitalization of $173.04 million, a price-to-earnings ratio of 8.63 and a beta of 0.81.

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

Investar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. Investar’s payout ratio is presently 20.59%.

Institutional Investors Weigh In On Investar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ISTR. New York State Common Retirement Fund lifted its position in Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,100 shares during the period. MetLife Investment Management LLC increased its stake in shares of Investar by 129.1% in 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. Wells Fargo & Company MN lifted its position in Investar by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 2,688 shares during the period. Prudential Financial Inc. bought a new stake in Investar during the fourth quarter worth about $211,000. Finally, BNP Paribas Financial Markets grew its holdings in Investar by 851.5% in 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 during the period. 50.17% of the stock is owned by hedge funds and other institutional investors.

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.