Investar (NASDAQ:ISTR) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research report sent to investors on Friday, January 12th. They currently have $27.00 price target on the financial services provider’s stock.

According to Zacks, “Investar Holding Corporation is a bank holding company for Investar Bank. It offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses and professional concerns, as well as loans to individuals. The company accepts various deposit products, including savings, checking, money market, and NOW accounts, as well as various certificates of deposit and individual retirement accounts. It also provides cash management products and services, such as remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking, as well as debit cards and mobile banking services. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “

ISTR has been the subject of a number of other reports. Hovde Group reissued an outperform rating and set a $28.00 price target on shares of Investar in a research note on Friday, December 29th. Piper Jaffray Companies reissued an overweight rating and set a $26.00 price target on shares of Investar in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $27.50.

Shares of Investar (NASDAQ:ISTR) traded down $1.25 during midday trading on Friday, hitting $24.00. 16,126 shares of the company’s stock were exchanged, compared to its average volume of 16,597. Investar has a one year low of $19.50 and a one year high of $25.95. The company has a market capitalization of $240.25, a P/E ratio of 26.03 and a beta of 0.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01.

Investar (NASDAQ:ISTR) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $13.78 million during the quarter, compared to the consensus estimate of $13.54 million. Investar had a net margin of 14.35% and a return on equity of 6.37%. research analysts expect that Investar will post 1.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 3rd were paid a dividend of $0.0315 per share. This represents a $0.13 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Investar’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, January 2nd. Investar’s payout ratio is 13.40%.

In related news, EVP Ryan P. Finnan sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $23.70, for a total transaction of $71,100.00. Following the completion of the sale, the executive vice president now directly owns 15,314 shares of the company’s stock, valued at $362,941.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 632 shares of company stock valued at $14,919. 8.83% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in Investar in the second quarter valued at approximately $328,000. Teachers Advisors LLC bought a new stake in Investar in the second quarter valued at approximately $328,000. Stieven Capital Advisors L.P. increased its stake in Investar by 12.7% in the third quarter. Stieven Capital Advisors L.P. now owns 133,435 shares of the financial services provider’s stock valued at $3,216,000 after purchasing an additional 15,035 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Investar by 19.4% in the third quarter. Bank of New York Mellon Corp now owns 25,231 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 4,093 shares in the last quarter. Finally, Northern Trust Corp bought a new stake in Investar in the second quarter valued at approximately $2,114,000. 56.33% of the stock is owned by hedge funds and other institutional investors.

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Investar Company Profile

Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.

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