Investar (NASDAQ:ISTR) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research report report published on Sunday morning,Wall Street Zen reports.

Several other research firms also recently issued reports on ISTR. Weiss Ratings reissued a “buy (b)” rating on shares of Investar in a research note on Thursday, August 27th. Zacks Research cut Investar from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

Investar Price Performance

Investar stock opened at $30.87 on Friday. The company has a 50 day moving average of $30.10 and a 200-day moving average of $28.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. Investar has a twelve month low of $21.43 and a twelve month high of $31.77. The stock has a market capitalization of $425.39 million, a PE ratio of 12.70 and a beta of 0.45.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.35 million. Investar had a net margin of 17.55% and a return on equity of 11.65%. On average, equities research analysts anticipate that Investar will post 3.15 EPS for the current fiscal year.

Investar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from Investar’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.6%. Investar’s dividend payout ratio is currently 19.75%.

Institutional Investors Weigh In On Investar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Investar during the 2nd quarter worth about $37,649,000. Fourthstone LLC increased its position in shares of Investar by 148.7% in the fourth quarter. Fourthstone LLC now owns 695,992 shares of the financial services provider’s stock valued at $18,597,000 after acquiring an additional 416,145 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in Investar during the second quarter worth about $5,057,000. Bank of New York Mellon Corp raised its holdings in Investar by 240.9% during the first quarter. Bank of New York Mellon Corp now owns 123,244 shares of the financial services provider’s stock worth $3,361,000 after acquiring an additional 87,095 shares in the last quarter. Finally, AlTi Global Inc. bought a new stake in Investar during the first quarter worth about $2,370,000. 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.