Investar (ISTR) Stock Rating Lowered by ValuEngine

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Investar (NASDAQ:ISTR) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Separately, Zacks Investment Research raised shares of Investar from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.50.

NASDAQ:ISTR traded down $0.27 during trading hours on Friday, reaching $23.00. 51,600 shares of the company were exchanged, compared to its average volume of 13,184. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. The company has a market cap of $223.47 million, a P/E ratio of 14.02 and a beta of 0.21. Investar has a 52-week low of $19.49 and a 52-week high of $29.90.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $15.64 million for the quarter, compared to the consensus estimate of $15.93 million. Investar had a net margin of 17.40% and a return on equity of 9.09%. Research analysts forecast that Investar will post 1.92 earnings per share for the current fiscal year.

In related news, Director Andrew C. Nelson purchased 2,000 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were bought at an average price of $24.03 per share, with a total value of $48,060.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 2,383 shares of company stock worth $57,135. 9.07% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems increased its position in shares of Investar by 65.4% in the fourth quarter. Ramsey Quantitative Systems now owns 3,166 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,252 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Investar in the fourth quarter worth $82,000. MetLife Investment Advisors LLC acquired a new stake in shares of Investar in the fourth quarter worth $112,000. JPMorgan Chase & Co. increased its position in shares of Investar by 173.5% in the third quarter. JPMorgan Chase & Co. now owns 5,117 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 3,246 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Investar by 82.5% in the fourth quarter. Bank of America Corp DE now owns 5,759 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 2,603 shares in the last quarter. 58.13% of the stock is owned by institutional investors.

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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