ValuEngine Downgrades Investar (NASDAQ:ISTR) to Sell

Share on StockTwits

Investar (NASDAQ:ISTR) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

Several other research analysts have also weighed in on ISTR. DA Davidson reaffirmed a “buy” rating on shares of Investar in a research report on Monday, July 22nd. Raymond James raised Investar from a “market perform” rating to an “outperform” rating in a research report on Monday, July 8th. Finally, Zacks Investment Research lowered Investar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Investar currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Shares of Investar stock opened at $23.92 on Thursday. The stock has a 50-day moving average price of $23.64 and a 200 day moving average price of $23.47. The company has a market cap of $238.57 million, a P/E ratio of 14.59 and a beta of 0.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. Investar has a 1 year low of $19.49 and a 1 year high of $26.49.

Investar (NASDAQ:ISTR) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Investar had a return on equity of 9.25% and a net margin of 18.69%. The company had revenue of $18.07 million for the quarter, compared to analyst estimates of $17.54 million. On average, equities analysts forecast that Investar will post 1.92 earnings per share for the current fiscal year.

In other Investar news, EVP Ryan P. Finnan sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $23.37, for a total value of $35,055.00. Following the transaction, the executive vice president now directly owns 16,769 shares of the company’s stock, valued at approximately $391,891.53. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John J. D’angelo sold 4,671 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $23.50, for a total value of $109,768.50. Following the completion of the transaction, the chief executive officer now directly owns 158,563 shares in the company, valued at $3,726,230.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,857 shares of company stock worth $160,602. Insiders own 9.64% of the company’s stock.

A number of hedge funds have recently modified their holdings of ISTR. Investment House LLC acquired a new position in Investar in the 2nd quarter worth about $306,000. Wells Fargo & Company MN increased its holdings in shares of Investar by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 32,779 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 721 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Investar by 33.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,322 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 3,801 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Investar by 45.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 204,026 shares of the financial services provider’s stock valued at $4,866,000 after acquiring an additional 63,799 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Investar by 434.6% during the 2nd quarter. Acadian Asset Management LLC now owns 11,136 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 9,053 shares during the last quarter. 53.61% of the stock is currently 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, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.

Featured Article: Basic Economics creates winners and losers

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Investar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investar and related companies with MarketBeat.com's FREE daily email newsletter.