Investar Holding Corp (NASDAQ:ISTR) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $29.50.
Several brokerages have recently weighed in on ISTR. Zacks Investment Research cut Investar from a “buy” rating to a “hold” rating in a report on Tuesday. FIG Partners began coverage on Investar in a report on Wednesday, October 10th. They set a “buy” rating and a $30.00 target price on the stock. BidaskClub upgraded Investar from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Finally, Piper Jaffray Companies set a $30.00 target price on Investar and gave the stock a “buy” rating in a report on Sunday, July 29th.
In other Investar news, Director Andrew C. Nelson acquired 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now owns 33,232 shares of the company’s stock, valued at approximately $830,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 4,785 shares of company stock worth $119,888 over the last quarter. 9.07% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISTR. MetLife Investment Advisors LLC acquired a new position in Investar in the second quarter valued at approximately $129,000. Rhumbline Advisers acquired a new position in Investar in the second quarter valued at approximately $225,000. Globeflex Capital L P lifted its holdings in Investar by 18.6% in the second quarter. Globeflex Capital L P now owns 14,000 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 2,200 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Investar by 39.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,426 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 5,526 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Investar by 86.0% in the first quarter. Dimensional Fund Advisors LP now owns 50,767 shares of the financial services provider’s stock valued at $1,312,000 after acquiring an additional 23,480 shares during the last quarter. Hedge funds and other institutional investors own 58.10% of the company’s stock.
Shares of Investar stock traded down $0.59 on Thursday, hitting $24.97. 667 shares of the company were exchanged, compared to its average volume of 27,915. The stock has a market cap of $249.62 million, a P/E ratio of 22.39 and a beta of 0.36. Investar has a 1-year low of $20.35 and a 1-year high of $29.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.05 and a quick ratio of 1.05.
Investar (NASDAQ:ISTR) last issued its earnings results on Thursday, October 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.02). The company had revenue of $15.60 million for the quarter, compared to analyst estimates of $15.65 million. Investar had a return on equity of 8.50% and a net margin of 16.88%. As a group, research analysts expect that Investar will post 1.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Monday, October 8th were issued a $0.045 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This is a boost from Investar’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a yield of 0.72%. Investar’s dividend payout ratio is currently 16.07%.
Investar Company Profile
Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. The company offers various deposit products and services, such as savings, checking, money market, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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