StockNews.com Downgrades Investar (NASDAQ:ISTR) to Hold

Investar (NASDAQ:ISTR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler upgraded Investar from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, April 22nd.

Investar Stock Up 3.9 %

Investar stock opened at $19.23 on Wednesday. The firm has a 50 day moving average price of $17.40 and a two-hundred day moving average price of $19.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. Investar has a 52-week low of $14.60 and a 52-week high of $24.81. The firm has a market cap of $188.86 million, a price-to-earnings ratio of 9.43 and a beta of 0.52.

Investar (NASDAQ:ISTR) last released its earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.29. Investar had a net margin of 12.81% and a return on equity of 8.00%. The business had revenue of $20.25 million for the quarter, compared to analyst estimates of $19.90 million. Equities analysts predict that Investar will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in Investar by 100.0% in the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,100 shares during the period. Copeland Capital Management LLC increased its stake in Investar by 26.4% during the 1st quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 626 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Investar by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,688 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Investar in the 4th quarter valued at $211,000. Finally, GAMMA Investing LLC boosted its holdings in Investar by 3,194.4% during the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 1,725 shares during the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

About Investar

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. The company offers various deposit products and services, such as savings, checking, money market, and individual retirement accounts, as well as various certificates of deposit; debit and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.