Investar (NASDAQ:ISTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other equities analysts also recently weighed in on ISTR. Sandler O’Neill set a $29.00 target price on shares of Investar and gave the company a “buy” rating in a report on Monday, January 29th. Hovde Group restated an “outperform” rating and set a $28.00 target price on shares of Investar in a report on Friday, December 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.50.
Shares of Investar (NASDAQ:ISTR) opened at $24.45 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. Investar has a 52 week low of $19.80 and a 52 week high of $25.95. The company has a market cap of $230.74, a PE ratio of 25.21 and a beta of 0.35.
Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Investar had a net margin of 14.35% and a return on equity of 6.37%. The firm had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $13.54 million. research analysts forecast that Investar will post 1.72 EPS for the current fiscal year.
In other Investar news, EVP Ryan P. Finnan sold 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 15,314 shares in the company, valued at approximately $362,941.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.83% of the company’s stock.
Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Investar by 19.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 25,231 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 4,093 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Investar during the 2nd quarter valued at about $328,000. Stieven Capital Advisors L.P. increased its holdings in Investar by 12.7% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 133,435 shares of the financial services provider’s stock valued at $3,216,000 after acquiring an additional 15,035 shares in the last quarter. Teachers Advisors LLC purchased a new position in Investar during the 2nd quarter valued at about $328,000. Finally, Northern Trust Corp purchased a new position in Investar during the 2nd quarter valued at about $2,114,000. Hedge funds and other institutional investors own 57.04% of the company’s stock.
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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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