Investar (NASDAQ:ISTR) Upgraded by StockNews.com to “Buy” Rating

by · The Markets Daily

Investar (NASDAQ:ISTR – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

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

Check Out Our Latest Research Report on ISTR

Investar Stock Performance

NASDAQ ISTR traded down $0.07 during trading hours on Thursday, hitting $17.37. The company had a trading volume of 12,737 shares, compared to its average volume of 41,362. The business has a 50 day moving average of $18.75 and a 200-day moving average of $20.29. The company has a market cap of $170.68 million, a PE ratio of 8.51 and a beta of 0.81. Investar has a 1-year low of $14.60 and a 1-year high of $24.81. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95.

Investar (NASDAQ:ISTR – Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (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%. As a group, equities research analysts expect that Investar will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ISTR. New York State Common Retirement Fund lifted its holdings in shares of 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 worth $48,000 after purchasing an additional 1,100 shares during the period. MetLife Investment Management LLC increased its stake in Investar by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after buying an additional 3,059 shares during the period. Wells Fargo & Company MN raised 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 worth $182,000 after buying an additional 2,688 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Investar in the fourth quarter valued at about $211,000. Finally, BNP Paribas Financial Markets raised its holdings in Investar by 851.5% during 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 in the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

Investar Company Profile

(Get Free Report)

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.

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