Zacks Investment Research upgraded shares of Investar (NASDAQ:ISTR) from a sell rating to a hold rating in a report issued on Thursday morning.
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. “
ISTR has been the subject of a number of other reports. BidaskClub downgraded Investar from a buy rating to a hold rating in a research note on Thursday, July 26th. ValuEngine downgraded Investar from a buy rating to a hold rating in a research note on Wednesday, July 25th. Finally, Piper Jaffray Companies set a $30.00 target price on Investar and gave the company a buy rating in a research note on Sunday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $28.75.
NASDAQ:ISTR traded down $0.55 during mid-day trading on Thursday, reaching $26.65. The stock had a trading volume of 155 shares, compared to its average volume of 13,762. The company has a market capitalization of $262.25 million, a price-to-earnings ratio of 23.79 and a beta of 0.33. 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 quick ratio of 1.05 and a current ratio of 1.05.
Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $15.51 million during the quarter, compared to the consensus estimate of $14.84 million. Investar had a return on equity of 7.90% and a net margin of 15.20%. equities research analysts forecast that Investar will post 1.65 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Royce & Associates LP acquired a new position in Investar in the second quarter valued at approximately $2,732,000. Globeflex Capital L P boosted its stake 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 period. Maltese Capital Management LLC boosted its stake in Investar by 13.0% in the first quarter. Maltese Capital Management LLC now owns 209,001 shares of the financial services provider’s stock valued at $5,403,000 after acquiring an additional 24,001 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 period. Finally, Mendon Capital Advisors Corp boosted its stake in Investar by 61.9% in the first quarter. Mendon Capital Advisors Corp now owns 22,913 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 8,761 shares during the period. Institutional investors own 58.19% of the company’s stock.
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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