Investar (NASDAQ:ISTR) Upgraded at StockNews.com

Investar (NASDAQ:ISTR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

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

Investar Stock Up 1.0 %

Shares of Investar stock opened at $19.54 on Friday. The company has a fifty day moving average price of $17.54 and a 200 day moving average price of $19.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. Investar has a twelve month low of $14.60 and a twelve month high of $24.81. The stock has a market cap of $191.90 million, a price-to-earnings ratio of 9.58 and a beta of 0.58.

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

Institutional Investors Weigh In On Investar

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