Investar (NASDAQ:ISTR) Raised to Buy at StockNews.com

Investar (NASDAQ:ISTR) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Piper Sandler began coverage on shares of Investar in a report on Friday, February 21st. They set a “neutral” rating and a $21.00 price target for the company.

Investar Stock Performance

NASDAQ ISTR opened at $17.73 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $174.21 million, a P/E ratio of 8.69 and a beta of 0.81. Investar has a 12-month low of $14.60 and a 12-month high of $24.81. The firm has a 50-day moving average price of $18.73 and a two-hundred day moving average price of $20.28.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. Analysts anticipate that Investar will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Investar

Several institutional investors and hedge funds have recently added to or reduced their stakes in ISTR. Empowered Funds LLC lifted its stake in Investar by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 51,524 shares of the financial services provider’s stock valued at $1,000,000 after purchasing an additional 2,546 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Investar in the 3rd quarter valued at approximately $572,000. Charles Schwab Investment Management Inc. lifted its stake in Investar by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,778 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 1,706 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Investar by 851.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 12,815 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Investar by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 3,059 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

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.