Investar (NASDAQ:ISTR) Stock Rating Lowered by Wall Street Zen
by Danessa Lincoln · The Markets DailyInvestar (NASDAQ:ISTR – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.
A number of other research analysts have also recently issued reports on the stock. Zacks Research cut shares of Investar from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Investar in a research note on Thursday, August 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.50.
View Our Latest Research Report on ISTR
Investar Stock Performance
Shares of Investar stock opened at $28.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. Investar has a 12-month low of $22.95 and a 12-month high of $31.77. The company has a market capitalization of $386.39 million, a price-to-earnings ratio of 10.66 and a beta of 0.45. The firm’s 50-day moving average price is $29.75 and its two-hundred day moving average price is $29.32.
Investar (NASDAQ:ISTR – Get Free Report) last issued its earnings results on Friday, October 23rd. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Investar had a net margin of 18.81% and a return on equity of 12.62%. The company had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $37.45 million. On average, analysts forecast that Investar will post 3.15 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its holdings in Investar by 63.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,394 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 543 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Investar in the 2nd quarter valued at approximately $210,000. WINTON GROUP Ltd acquired a new position in Investar in the 2nd quarter valued at approximately $367,000. Engineers Gate Manager LP bought a new position in shares of Investar during the second quarter valued at $545,000. Finally, Squarepoint Ops LLC bought a new position in shares of Investar during the second quarter valued at $1,219,000. 50.17% of the stock is currently owned by institutional investors and hedge funds.
About Investar
Investar Holding Corporation is a bank holding company headquartered in Baton Rouge, Louisiana. Through its principal subsidiary, Investar Bank, the company provides community banking services to individuals, businesses and institutions.
Investar Bank offers a range of deposit products, including checking, savings and money market accounts, certificates of deposit and commercial deposit services. Its lending activities include commercial and industrial loans, commercial real estate financing, residential mortgage loans, construction and development lending, and consumer loans.
The bank also provides treasury management, online and mobile banking, cash management and other financial services.