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

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

Separately, Piper Sandler started coverage on Investar in a research report on Friday, February 21st. They set a “neutral” rating and a $21.00 price objective on the stock.

Investar Trading Down 0.4 %

Investar stock traded down $0.07 during midday trading on Thursday, reaching $17.37. 12,737 shares of the stock traded hands, compared to its average volume of 41,362. 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 $170.68 million, a PE ratio of 8.51 and a beta of 0.81. The company has a 50-day simple moving average of $18.75 and a two-hundred day simple moving average of $20.29. Investar has a 12-month low of $14.60 and a 12-month high of $24.81.

Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating 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%. Research analysts expect that Investar will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in shares of 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 purchasing an additional 1,100 shares during the last quarter. MetLife Investment Management LLC raised its stake in Investar by 129.1% in the third 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 in the last quarter. Wells Fargo & Company MN lifted its holdings 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. acquired a new position in shares of Investar during the 4th quarter worth about $211,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Investar by 851.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 12,815 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

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.