Investar (NASDAQ:ISTR) Upgraded at StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a report released on Thursday morning.

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

Investar Price Performance

Shares of ISTR stock opened at $17.73 on Thursday. The stock’s fifty day moving average is $18.73 and its 200-day moving average is $20.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $174.21 million, a PE ratio of 8.69 and a beta of 0.81. Investar has a 52 week low of $14.60 and a 52 week high of $24.81.

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

Investar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, March 31st. Investar’s dividend payout ratio (DPR) is currently 20.59%.

Hedge Funds Weigh In On Investar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its holdings in Investar by 32.0% during the fourth quarter. Squarepoint Ops LLC now owns 18,720 shares of the financial services provider’s stock worth $411,000 after buying an additional 4,534 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Investar during the fourth quarter worth about $651,000. Bridgeway Capital Management LLC raised its position in shares of Investar by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider’s stock worth $3,204,000 after purchasing an additional 2,099 shares during the period. BNP Paribas Financial Markets raised its position in shares of Investar by 12.7% during the fourth quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 1,817 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Investar by 8.0% during the fourth quarter. Ameriprise Financial Inc. now owns 17,455 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,300 shares during the period. 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.