StockNews.com Upgrades Investar (NASDAQ:ISTR) to Buy

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

Separately, Piper Sandler initiated coverage on Investar in a research report on Friday, February 21st. They issued a “neutral” rating and a $21.00 target price on the stock.

Investar Price Performance

ISTR stock opened at $17.85 on Friday. The stock has a market capitalization of $175.39 million, a price-to-earnings ratio of 8.75 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. Investar has a 52-week low of $14.60 and a 52-week high of $24.81. The stock’s fifty day simple moving average is $18.54 and its 200-day simple moving average is $20.27.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 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%. Equities research analysts expect that Investar will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its position in 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 worth $48,000 after acquiring an additional 1,100 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Investar by 129.1% in the third 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 period. Wells Fargo & Company MN grew its holdings 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 purchasing an additional 2,688 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Investar during the fourth quarter worth about $211,000. Finally, BNP Paribas Financial Markets raised its position in shares of 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 in the last quarter. 50.17% of the stock is 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.