Investar (NASDAQ:ISTR) Stock Rating Upgraded by Zacks Research

Investar (NASDAQ:ISTR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Piper Sandler increased their price objective on Investar to $29.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Investar in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, Investar has an average rating of “Buy” and a consensus price target of $29.00.

Investar Stock Performance

Investar stock traded up $0.18 during mid-day trading on Tuesday, reaching $27.95. 29,708 shares of the company traded hands, compared to its average volume of 57,064. The firm’s fifty day moving average is $26.64 and its two-hundred day moving average is $24.17. The company has a market capitalization of $274.14 million, a price-to-earnings ratio of 13.06 and a beta of 0.54. Investar has a fifty-two week low of $15.39 and a fifty-two week high of $31.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.90.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $23.93 million during the quarter, compared to the consensus estimate of $37.35 million. Investar had a net margin of 14.92% and a return on equity of 9.31%. On average, equities research analysts expect that Investar will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Investar

A number of hedge funds have recently added to or reduced their stakes in ISTR. Empowered Funds LLC raised its position in Investar by 7.2% in the 1st quarter. Empowered Funds LLC now owns 58,028 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 3,905 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Investar by 16.4% in the second quarter. Copeland Capital Management LLC now owns 3,492 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 491 shares during the last quarter. Savant Capital LLC grew its holdings in Investar by 6.2% during the 2nd quarter. Savant Capital LLC now owns 13,247 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 776 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Investar in the 2nd quarter valued at approximately $480,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Investar by 9.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,783 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 4,526 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Investar Company Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.